Head of the State Duma of the Russian Federation Vyacheslav Volodin pointed out that “there are 5 reasons why the dollar is losing its global positions and that the process of declining its positions has begun and it can no longer be stopped.”

Volodin pointed out that “these reasons are related to the fact that the dollar has no backing from real goods or resources, since after the US withdrawal from the Bretton Woods agreement, the dollar is no longer pegged to gold and the printing of American dollars has become unlimited in addition to the use of the dollar in as an instrument of political warfare, as well as geopolitical changes, since the unipolar global model has exhausted itself and the demands for multipolarity are increasing in the world.

Volodin stated: “The fourth reason is Washington’s unwillingness to admit its mistakes and then work on correcting them, in addition to the cyclical nature of history, since for each world currency there is a repeating historical pattern and its own period of about 100 years. “