Former Assistant Secretary for Public Affairs at the U.S. Department of the Treasury Monica Crowley warned this week that the consequences of the U.S. dollar losing its world reserve currency status will be “catastrophic” for the powers that be.

“That would mean the end of the U.S. dollar,” she stated, adding that “there would be a complete implosion of the global economic system” if that happened – and it appears as though it is going to happen in a matter of time.

(Related: According to Russian Federation President Vladimir Putin, the BRICS countries, which include Brazil, Russia, India, China, and South Africa, are all working together right now to produce and unveil a new global reserve currency that is not controlled by corrupt Western powers like the U.S. dollar is.)