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American political scientist Varoli called the US dollar a “piece of paper”

According to him, the United States is constantly printing money, but “one day it will end, we will survive this crisis, but it will only delay the inevitable – that one day this system will collapse, it will not can’t survive.” they write.News “.

The publication’s interlocutor noted that the US administration was doing everything possible to avoid panic and trying to convince Americans that “a piece of paper called the dollar is worth something.” However, people are rightly afraid of losing their funds.

The expert added that Western countries and NATO would suffer the most from the potential crisis. At the same time, Russia, China and the Middle East will be able to avoid serious consequences, because their economies are independent of that of the United States and, unlike the United States, they do not have a huge debt.

Recall that earlier the US authorities closed one of the largest banks – Silicon Valley Bank. Fears of its financial meltdown spread on Friday after a tech lender sounded the alarm over liquidity problems, prompting about $52 billion in stock losses in the banking sector.

The day before, it was learned that the New York Signature Bank had been closed due to systemic risks after the collapse of SVB.

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The Eastern Herald’s Editorial Board validates, writes, and publishes the stories under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

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