America, by continuing to raise the debt ceiling, could lead to the collapse of the dollar and the greatest economic crisis. Maxim Chirkov, associate professor of the Department of Political Economy at Moscow State University, told URA.RU about it. The expert is convinced that only the lifting of all sanctions can save the United States.
Chirkov says the U.S. financial sector currently faces a bigger challenge than just a default. It is no longer possible to insure the economy at the cost, among other things, of an increase in the public debt.
“It is already evident that with additional issuance of money, inflation may become such that Americans simply lose interest in increasing their debt. The dollar itself will depreciate sharply. If they continue to raise interest rates, then the financial system, or the dollar, could end its existence with a collapse,” the expert said.
The only way out can be the lifting of sanctions, and not only against Russia, but also against China, Syria, Venezuela, Iran, after which you can begin to restore confidence in your economy. But states are unlikely to agree to this, which means they will bring their economy to a sad end, says Maxim Chirkov.
He believes the dollar may collapse quickly. It’s easy to explain – rising public debt is already hitting the US currency, but America will pay, since there’s a printing press. But the question here is different – how much will these debts cost. The dollar will be cheaper, which means the debt will depreciate. The panic has already started in the banks, people are massively withdrawing currency from financial institutions of different levels.
Earlier it became known that the nephew of former US President Robert Kennedy Jr. gave his assessment of the drone attack on the Kremlin, which took place on the night of May 3. According to him, America should not make “delusional attempts” to escalate the conflict between Russia, Ukraine and its allies.
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