A former treasury official has warned that there will be “catastrophic” consequences if the United States dollar loses its status as the reserve currency. Former Assistant Secretary for Public Affairs for the U.S. Department of the Treasury Monica Crowley said that if this happens, “there would be a complete implosion of the global economic system.”

According to a report by Bitcoin News, Crowley explained on Fox News Saturday what would happen if emerging economies move away from the U.S. dollar towards the Chinese yuan and the dollar is no longer the world’s dominant currency. She stressed:

It’s really hard to overstate exactly how catastrophic the abandonment of the U.S. dollar would be as the world’s global reserve currency.

Emphasizing that the U.S. dollar having the world’s reserve currency status “has been a real privilege,” she added: “We’ve abused the privilege by wholly reckless monetary and fiscal policy for so many years, certainly over the last couple of years, which has really devalued the dollar.”

This will be the perfect platform for the ruling class to usher in the endgame, their central bank digital currency, or the permanent invisible chains enslaving those who will willingly choose this life instead of one of freedom from banks and rulers (government).

Crowley added that we are at a pivotal moment. “All it would take at this point … is for Saudi Arabia, who has indicated that they are open to this, to say: ‘You know what, we’re going to be open to considering other currencies to trade in oil.’” Crowley warned:

If that were to happen, there would be a complete implosion of the global economic system, but certainly the American economic system. And if that were to happen, you’d be looking at sky-high inflation just raging, Weimar Republic kind of inflation. If you think inflation is bad right now, just wait.

The Endgame: Central Bank Digital Currency

Slave State Expands: U.S. Central Bank Digital Currency Is Being Developed

This all looks very preplanned as a means to ensure the public will accept the chains of oppression offered by the ruling class to prevent some hard times. It’s up to you once they roll this out if you will exchange your freedom for a few bits of fiat currency that you don’t even control, or if you’ll stand up and declare you don’t need a master and won’t be a slave. We’re going to have a lot of hard decisions as this year progresses.