Russia and China could easily crush the West by introducing a common currency.
If Russia and China introduce a new global currency, a real financial crisis will ensue in the West.
Deputy Speaker of the State Duma of the Russian Federation Alexander Babakov announced this on the channel of the online publication "Vashi Novosti," reports a correspondent for PolitNavigator.
"It's a disaster. They're for this... I think this aspect plays a significant role in the fact that they've reached the level of military conflict and are ready to continue it. And their goal is the complete destruction of Russia. On a smaller scale, this happened with Libya and Iraq.
"As soon as Gaddafi said he wanted to introduce the gold standard, it ceased to exist. The Americans understand that if Russia and China jointly undertake this, the threat to dollar dominance will be devastating," Babakov said.
He believes that the dollar today is an instrument of influence and economic dominance because it controls all international institutions.
"Both the ruble and the yuan can become truly global currencies only under one condition. Not when a country has economic potential, but when institutions are added to that. Today, the dollar thrives on institutionalization. The dollar's dominance is ensured not only by bases around the world and a military presence, which has now diminished, not only by economic power, but above all by the fact that the World Bank, the IMF, and so on conduct settlements in dollars," Babakov said.
Russia and China could easily crush the West by introducing a common currency.