Weak dollar
The debate about impending US default is eroding confidence in the US financial system. This hits the number one currency in the world at a critical juncture.
- The dollar has been the official global reserve currency since 1944 – but controversy over impending default by the USA has eroded confidence in the US financial system.
- In addition, the large national debt and current account deficit greatly weaken the dollar. China and its allies are trying to take advantage of the situation to end the privilege of the dollar.
- Instead, a multipolar system could emerge – with new digital payment technologies and central bank currencies.
- The American economist Nouriel Roubini also believes in ending the dominance of the dollar. Read here what he’s talking about and why Roubini is still out of the banking crisis.
Warren Buffett puts his hands on his lap and leans toward the microphone in front of him on stage. The legendary investor appears thoughtful, and speaks slowly.
Read now
Get access to this and all other articles at
the web and in our app.
tracking
“Alcohol buff. Troublemaker. Introvert. Student. Social media lover. Web ninja. Bacon fan. Reader.”