“A Crash in the Dollar Is Coming”
June 8th, 2020Bloomberg now reads like an economic doom blog.
Does that mean:
Yes, the dollar collapse is finally here.
or…
Nope, made you look. Again.
What will it take to finally collapse the dollar?
Does it matter that the U.S. is two, ten, twenty, thirty or one hundred trillion dollars in debt? Is there any difference? Where is the straw that breaks the camel’s back?
My guess is that it will happen when the private jet class is loaded up short and they light the fuse on the next crisis.
Via: Bloomberg:
The era of the U.S. dollar’s “exorbitant privilege” as the world’s primary reserve currency is coming to an end. Then French Finance Minister Valery Giscard d’Estaing coined that phrase in the 1960s largely out of frustration, bemoaning a U.S. that drew freely on the rest of the world to support its over-extended standard of living. For almost 60 years, the world complained but did nothing about it. Those days are over.
