Goldman Sachs Warns Dollar Could Lose Its Vital Reserve Status, But Perhaps Things Aren’t So Dire
The end of the dollar as reserve currency has been predicted for a long time. Indeed since Nixon took the dollar totally off of the gold standard. However, things might be accelerating now. The Federal Reserve appears to have abandoned anything that looks like monetary discipline and the dollar is eroding.
As the dollar declines, goods become more expensive, which is just what we need right now out in middle America.
Also, if the dollar loses “reserve” status, something it has long enjoyed, selling US debt becomes much more difficult.
(From SchiffGold.com)
Goldman is worried about all of the money-printing and the potential for inflation. The note emphasized that gold is the best hedge in the current environment because inflation will be driven by currency debasement.
Is the recent dollar decline overblown?
Some believe that the current fretting about the dollar is unreasonable given that the dollar spiked at the onset of Covid and now may be just reverting to the mean.
(From Financial Advisor Magazine)
The recent decline has everything to do with things looking less risky in the rest of the world—and nothing to do with the U.S. looking shaky. If anything, the dollar in 2020 shows just how much of a commanding position it still has.
http://www.againstcronycapitalism.org/
Source: https://www.ac2news.com/2020/07/goldman-sachs-warns-dollar-could-lose-its-vital-reserve-status-but-perhaps-things-arent-so-dire/
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