What does it mean for us? Potentially, worse inflation and China gaining the upper hand. This is the cost of profligacy and rank irresponsibility on the part of our elected officials from both parties. Discussion begins at 2:00 mark:
The US Dollar At Risk
4 thoughts on “The US Dollar At Risk”
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I blame Biden ( and the Republicans to a much lesser degree ) for jeopardizing the US Dollar as the worlds reserve currency. Some alarmists say the sky is falling.
Maybe so but are they more interested in selling precious metals than the soundness of the dollar.
Actually wondering if our gold is really in Fort Knox (-:
Spending was excessive prior to the pandemic, Fred; but our actions during 2020 and thereafter were the turning points that led these other nations to lose confidence in the US dollar, and to exploit its weakness. The orgy of spending began during the last year of Trump’s presidency, and of course Biden made it much worse.
And yes, various precious metals dealers are sprouting up and warning us. I think this is one of those cases in which their economic self-interest intersects with the development of a debt crisis that puts the dollar in jeopardy.
I agree with the thrust of everything he said, but the profligacy of all the other nations/central banks in the world will keep the $ reserve currency for quite a while…probably till they have to print to fund SS/Medicare. It is still the least dirty shirt in the hamper.
Healey, thanks for this bit of perspective. I guess we will see what happens. None of us has ever lived through this type of circumstance, so we will all be learning about it, one way or another…