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‘Sawing off the branch it’s sitting on’: US has itself to blame for dollar collapse – Keiser Report

‘Sawing off the branch it’s sitting on’: US has itself to blame for dollar collapse – Keiser Report
While the United States is sanctioning countries and causing them to shift away from the dollar, Russia and China continue boosting trade and their gold reserves, says Dmitry Orlov of popular Club Orlov blog.

“The strategy for both Russia and China is to let the Americans do it all to themselves, by themselves. There won’t be anyone but themselves to blame,” Orlov told RT’s Keiser Report.

According to the Russian-American social commenter, the US is limiting people’s access to dollar transactions by introducing sanctions and threatening to cut people off from the SWIFT payment network.

They are “basically sawing off the branch they are sitting on," Orlov said, adding that “nobody has to help them.”

Meanwhile, Russia and China aim to continue mutual trade, to trade with other countries, to form various trade consortiums based on local currencies, and to provide currency swaps backed by gold, Orlov pointed out.

“Nobody is interested in major financial destructions which will occur but they will be produced by the United States acting alone,” he predicts.

For more stories on economy & finance visit RT's business section

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