https://sputnikglobe.com/20240520/us-congressman-says-countries-tired-of-inflation-tax-could-abandon-us-dollar-1118547041.html
US Congressman Says Countries Tired of Inflation Tax, Could Abandon US Dollar
US Congressman Says Countries Tired of Inflation Tax, Could Abandon US Dollar
Sputnik International
Countries are growing weary of the US dollar and could abandon the currency due to inflation, US Congressman Thomas Massie said on Monday.
2024-05-20T16:47+0000
2024-05-20T16:47+0000
2024-05-20T16:47+0000
economy
us
federal reserve
ditching dollar
dumping the dollar
dollar trade
dollar hegemony
us house of representatives
us house
dedollarisation
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“The whole world is holding dollars, so when we devalue the dollar, we’re not just taxing our own people, we’re taxing the entire world,” Massie said in an interview with Glenn Beck. Last week, Massie introduced bills to audit and abolish the Federal Reserve, citing their contribution to inflation. The Federal Reserve devalued the dollar and enabled free money policies that caused high inflation, Massie said. The legislation to end the Federal Reserve now has over 20 cosponsors in the House of Representatives, Massie said.
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de-dollarization, countries abandon dollar, global south gives up dollar, global dollar transactions, what's happening with the dollar
de-dollarization, countries abandon dollar, global south gives up dollar, global dollar transactions, what's happening with the dollar
US Congressman Says Countries Tired of Inflation Tax, Could Abandon US Dollar
WASHINGTON (Sputnik) - Countries are growing weary of the US dollar and could abandon the currency due to inflation, US Congressman Thomas Massie said on Monday.
“The whole world is holding dollars, so
when we devalue the dollar, we’re not just taxing our own people, we’re taxing the entire world,” Massie said in an interview with Glenn Beck.
“The rest of the world is getting tired of being used that way… and when they start using alternate forms of money to do their transactions, or holding different assets in their own sovereign wealth funds, then we’re not going to be able to do that trick on anybody except for US citizens.”
Last week, Massie introduced bills to audit and abolish the Federal Reserve, citing their contribution to inflation. The Federal Reserve
devalued the dollar and enabled free money policies that caused high inflation, Massie said.
The legislation to end the Federal Reserve now has over 20 cosponsors in the House of Representatives, Massie said.
In December, Russian Prime Minister Mikhail Mishustin said that Russia and China achieved nearly complete dedollarization in their bilateral transactions.
