Why the US currency is more vulnerable than ever

The vulnerable dollar

The debate about the impending US default is weakening confidence in the US financial system. This hits the world’s number one currency in a critical phase.

  • The dollar has been the official global reserve currency since 1944 – but the debate about the impending default by the USA is eroding trust in the US financial system.
  • In addition, the large national debt and the current account deficit weaken the dollar enormously. China and its allies are trying to use the situation to end the dollar privilege.
  • Instead, a multipolar currency system could emerge – with new digital payment technologies and central bank currencies.
  • US economist Nouriel Roubini also believes in an end to dollar dominance. Read here what speaks for it and why Roubini is far from over the banking crisis.

Warren Buffett puts his hands on his lap and leans towards the microphone in front of him on the stage. The legendary investor seems thoughtful, speaks slowly.

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