“US Secretary of Treasury Janet Yellen this week warned that there would be “slow decline” in the US dollar as the global reserve currency. Asked if the US should be concerned about “slapping sanctions around the world”, Yellen told US lawmakers that countries fearful of sanctions were “motivated” to look for dollar alternatives. “It’s something we have to accept,” the Treasury Secretary noted.” Although recent IMF currency composition of foreign exchange reserves (COFER) holds that the U.S. accounts for ~58.4% of reserves, de-dollarization seems to be making a it’s appearance. Moreover, BRICS nations are moving to create a new international currency standard by backing currencies with commodities such as oil and gold. Hate to sound like a pessimist, but loose monetary policies coupled with high inflationary periods will ultimately be the downfall of the USD as the worlds reserve currency. Buckle your seatbelts, everyone. TLDR; #investments the chickens are coming home to roost. https://unherd.com/thepost/janet-yellen-expect-a-slow-decline-in-us-dollar/ #investments #personalfinance #money #currency
USD has seen worst and has the experience to hold its position..no other currently can do this...they can try but chances of success are very slim...look at the history....Bitcoin can do the trick but it’s generations away
I agree. It’s quite interesting to see this pan out. My main concern is future investments and how this would affect my retirement and brokerage accounts 20+ years from now. I’ve diversified in ETFs, stocks, cryptocurrency, etc… But I’m rethinking my strategy and thinking about dumping heavily into real estate passive income.
Do you realize we all pay a hidden tax for USD being the so called reserve currency? I wish we were not.
Not true, you get cheap loans and free printing out of it. It's the world that pays the tax.
Tax? We give people little green pieces of paper, they give us stuff. We then devalue that paper and repeat. That’s a subsidy not a tax.
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So which currency will be the next reserve? Also which province of China are you from?
Born and raised in the states and even served in the US Navy as a hospital corpsman with a few deployments to Afghanistan. Love the passive aggressive chirp about my origins instead of engaging in actual discourse. You win Blind today, my guy.
You’re putting more effort into your lies than the usual wumao but alas, we all know you’re a CCP troll