A 'Piece of Paper Based on Trust': The Russian Foreign Ministry on the Dollar

Today, currencies like the dollar are nothing more than a 'trust paper'. In an interview with the magazine 'National Security Issues' of the Russian Institute for Strategic Studies (RISI), Alexey Drobinin, the director of the Foreign Policy Planning Department of the Russian Foreign Ministry, spoke about this.

The diplomat addressed the deepening crisis of the western model of globalization. He noted that the United States and its close allies prioritize political considerations over economic ones. This is why financial and economic tools are used as weapons; for example, sanctions are imposed, and manipulations occur in the securities and currency markets.

Drobinin called such policies short-sighted, emphasizing that they strike at Western countries and undermine confidence in the American currency. 'Let’s speak frankly. The dollar is nothing more than a piece of paper based on trust, and the U.S. government will never pay off this country's campaign state debt, which recently exceeded $31 trillion,' he said.

Earlier, a global survey showed that 47 percent of the world's population expects the dollar to lose its status as the world's leading currency within the next 25 years.