Federal Reserve Chair Jerome Powell admitted in a speech that the American dollar is at risk of losing its standing as the world’s preeminent currency. He made this admission as he pushed for the United States to create a digital currency that he said would preserve the dollar’s status.

Powell made this claim during a speech at the “International Roles of the U.S. Dollar” conference hosted by the Fed. Powell warned that America needs to develop its own central bank digital currency (CBDC) to compete with similar digital currency in other countries.

“Looking forward, rapid changes are taking place in the global monetary system that may affect the international role of the dollar in the future,” said Powell. “Most major economies already have or are in the process of developing instant, 24/7 payments… And in light of the tremendous growth in crypto-assets and stablecoins, the Federal Reserve is examining whether a U.S. CBDC could also potentially help maintain the dollar’s international standing.”

Josh Sigurdson, host of “World Alternative Media,” warned that the creation of an American CBDC is part of the modus operandi of the Great Reset agenda, and people should pay more attention to Powell’s admission that the dollar could collapse.

“It says a lot when the Fed chair is admitting that the U.S. dollar may possibly face being depegged as a world reserve currency,” he said. “Just even alluding to it slightly is something that never happens unless it is like the end of the line [for the dollar] … and if that happens, obviously, we’ll see hyperinflation.” (Related: Economist: America is about to enter next stage of inflation, which will be so much worse.)

Poster Comment:

Putin is planning to do that next year at the May 19, 2023 BRICS meeting.