The United States economy could be in danger if China and Russia end up deciding to trade within their own gold-backed money, and U.S. dollars no longer are established as the world's foremost currency, retired U.S. Air Force Brigadier General Blaine Holt said on Newsmax Sunday.
"Amidst all the crises and wars and stuff that we see, this is all camouflaging this number-one issue," Holt, a Newsmax contributor and former deputy military representative to NATO, told Newsmax's "Wake Up America." "If we lose the reserve world currency, which is absolutely in the crosshairs of [China's President] Xi Jinping and [Russian President] Vladimir Putin and other countries, our lives will be so completely different."
And, he said, "Americans need to wake up and start educating themselves about this or they're going to be educated, whether they want to or not."
Such a move would mean that U.S. dollars, as the one-time fiat currency, would be "worthless" but that is Russia's "top-line goal," said Holt.
"They are backed up by some formidable allies," he said. "Xi Jinping and the World Economic Forum, they're not at odds with each other. They're completely aligned in their goals. Vladimir Putin and Russia, they're really, really just kind of a client state and they're becoming a client state of China."
China is also making moves in the financial markets to buy billions of tons of gold, and with such moves, "that looks like they're starting to prepare for war, but we see them preparing for war with their attacks and exercises on Taiwan," said Holt. "Then we start seeing a decoupling of the West."
Further, he noted that "nobody's really reporting on what's going on with COVID."
"They're lying again," said Holt. "Crematoriums are running 24-7 in their country and they're saying that they only lost between 50 and 100 in this recent strain of COVID, and we're not stopping them from traveling around the world."
Meanwhile, President Joe Biden's national security team has lost "every single time," but "nobody's been held to account and now we're in grave danger," said Holt.
"We're watching dollars we're going to need fly out the door and nobody wants to tell us how they're being used,' he said. "China's taking this all very seriously. Cash-wise, they're broke but Xi Jinping and the World Economic Forum have, in preparation steps, that we have better start waking up and paying attention to."
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Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics.
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