these are new technologies anything can happen with dollar these instruments will continue developing because everyone will try to reduce costs and to make these instruments more reliable this is inevitable and DOA has nothing to do with it [Music] [Applause] [Music] [Applause] [Music] follow up uh recently Mr Trump uh haven't made it who haven't made it to uh its White House well uh you may not know that we have our own White House where we make good decisions where as the White House in Washington is a place where some uh different decisions are made now he
said that if bricks members do not use the dollar he would introduce 100% uh duties against all these countries so this is the first threat against States the first threat of this kind previously the Americans uh went after individual Banks or companies but uh that was a first stating that the states would be punished and their products would be subject take 200% duties this is a first from the president elect now we know that Americans are very sensitive about this because the strength of America is uh it's dollar and uh this is where money is
invested so but for the dollar with this positions the American economy uh will U go under with it huge debt uh and we all the dollars create huge revenues for banks now uh how do you um assess this step of the president elect whether this would undermine the trust in the US in their economy and their financial system whether this would make bricks countries and other countries to flee from Dollar even faster or in trying to create some new formats um new uh approaches first of all I'll agree that the use of dollar as a
world currency gives um the us a lot of um money in the last 10 years they received 10 trillion just like that from the skies for the fact of the for the fact that the dollar is used as the reserve currency on the basis of placement in their Banks $1 trillion it means that they consume more than they produce which is very important in fact thanks to the dollar the US continue to exploit other economies of the world for their own benefit many people do not think about it but this is important and I'll agree
with you on that the second thing you said that the president elect Trump threatened that those who will not use uh dollar will introduce duties or sanctions as I understand he didn't say it like that I understand that when we speak about the US it provokes some certain reaction well um as far as according to what I've seen well I don't have much time to see to watch but I said if someone wants to restrict the use of dollar they will react this is not the same one thing is to prohibit the of dollar and
the other thing is not to use it these are different things and the third president elect hasn't uh governed the country has not been in the white house for 4 years and there was certain changes in the economy in the world economy during this time and as well as in the American economy his opponents his successors did a lot to undermine the fundamental basis of dollar as a international Reserve currency they did it themselves with their own hands using dollar as an instrument of political or even military fight to inflict damage on other countries because
uh the government of the US considers their opponents for instance against us they started introducing restrictions the share of the US in the world economy is reducing and it means that the influence of Dollar on world economic processes is also reducing that is why quite naturally we see processes with the use of other instruments for instance Bitcoin who can prohibit the use of it no one or the use of other electronic ways of settlements no one can ban the use of them because these are new technologies anything can happen with Dolla these instruments will continue
developing because everyone will try to reduce costs and to make these instruments more reliable this is inevitable and DOA has nothing to do with it but if we see that uh the use of dollar is reduced by if they do it themselves they will undermine their basis of their own economic dominance uh this is obvious and I absolutely agree with you on that we never refuse to use dollar we were denied the use of it as we say that we fight for something and then we uh this result in problems and now we have to
think what to do next this comes from uh the fact that um they are too confident of themselves and this is unacceptable we need to understand the processes that are happening in the world based on that standing we should establish our policy including on the international level this is happening in a very natural way even the countries that are allies of the US reduce their gold and currency reserves in dollars and in Euros in the last 10 years uh the reduction was around 13% well this is a big figure and this is happening naturally no
one will be able to undo these processes with the use of sanctions or using force that are destructive for the economy
