The dollar today has become the de facto world currency. Most countries keep their gold and foreign currency reserves in U.S. dollars, and  the U.S. external debt has been growing at an increasing speed over the past 50 years.

Pavel Fedorov, an advisor with Morgan Stanley, says that it is necessary to understand that “the financial well-being of the USA is not so much a cunning plan by the U.S. government as it is a free choice of other countries. Trust in the United States as the most stable democracy is a determining factor in why other countries keep their savings in dollars. If Russia survives 50 to 70 years without defaults and devaluation of the national currency, then, after this, global corporations will start using the rouble as an accounting currency. For Russia to become a rich country, it is necessary to work more and with a greater efficiency to integrate Russia into the world community and  develop the innovative sector of the economy.”

Why don’t we pay for goods with the rouble? What should be done to ensure Russia’s prosperity? Ilya Kolosov, host of the “Sobytiya.25chas” news program on Centre TV, answers these questions in his film “Be$tsenniy Dollar.” The film discusses the reasons for the success of the American economy and its impact on global finances. Following, Kolosov discusses his film in an interview with Moscow State University journalism student Elena Shvetsova.

My first feeling after watching your film was that you have revealed the great secret of the dollar. Has your film changed anything in the financial and economic sector in our country?

I have revealed nothing. I have just retold what clever people told me. Professionals who understand something about the economy and finances, who value their country, know about it and are taking all the necessary measures. Has anything changed? No.

Do you think that the information in the film was not convincing enough?

The information is clear; it is just an account of what is actually happening. Unfortunately, our film has not made much difference yet. I think we should not overestimate our possibilities and influence. It is good that our channel TV Centre has made such film at all. I am very happy about it.

People who deal with this subject in America might have seen this film. Did you have any problems because you revealed all secrets of their dollar?

My film is not unique on this subject. There are some similar films – “The Money Masters,” “Money As Debt,” and “Zeitgeist.” I took a different slant, though. I showed how the influence of the U.S. dollar has been applied in our country, how it is being applied in other countries, and what we might expect in the future.

Сan our government take any measures to avoid being enslaved by the dollar?

Yes, it can. But, there are influential people who make good money on it. What we are dealing with here is direct or indirect mercenary interest. The Central Bank, the banking financial system, industrialists, that is everybody who is involved in selling raw materials for foreign currency, they profit by it and it is impossible to break them now. They are very strong.

However, at the end of the film you conclude: “There will be somebody in finance, too, who will play hard with America.” Who will that be and when will it happen?

There are not enough chances for Russia now. China has nothing to gain from it, but theoretically, it can. It has enough resources. In Russia, it depends exclusively on the political will.

You said in one interview that you were pleased by President Dmitry Medvedev's intention to make the rouble a reserve currency. Why hasn’t the rouble become a reserve currency yet?

See the second part of the film. There are answers to all of these questions.

When will the second part go out?

I doubt that it will be broadcast because the ready-made film was given to the management of a broadcasting company one and a half months ago. This film is very serious, and I perfectly understand them.

So we won’t be able to see it on TV?

I think that it is impossible, at least now, because as the management of our channel told me, this film has to be approved by the government. And, as there is a lot of criticism of the government in the film, it will likely won’t get approval. But, it has somehow appeared on the internet, and not its final version, but a preliminary, pre-edited one. As a result, the final version is a little bit different.

It is a pity that such difficulties emerged with the release of the second part of your film.

One should assess the situation we are in correctly. One should not build castles in the air. I repeat, such a film could not have been broadcast on any other channel. So, many thanks to TV Centre. And, it is not surprising that instant approval was not given this time. The film is stronger than the first one. The management said that film is a success as a TV-product. In the film, I work for the benefit of the channel, communicate with the audience, and appear on screen. It is not an easy job but it is much easier than that of the management, who must make the right decisions so that the channel can continue to operate. Nobody wants problems after the film is broadcast.

Why did you make this film at all? So much effort and time was spent.

It was interesting for me.

Do you enjoy it?

I enjoy it greatly. When I finished the second film and gave copies to the guys who worked on it, they watched it and said: “Cool film!” This is a great pleasure, and it is great that I have a possibility to do what I want.