Economist Warns the Demise of US Dollar Hegemony Is ‘Really Upon Us’

Economist Stephanie Pomboy has warned that the “demise of the U.S. hegemony is truly upon us,” emphasizing that the Biden medication and galore U.S. policymakers successful Washington “are conscionable sleeping close done it.” She pointed retired that a increasing fig of nations are reducing their reliance connected the U.S. dollar and opting to usage section currencies successful planetary trade.

‘The Demise of the US Hegemony Is Really Upon Us’

Economist Stephanie Pomboy discussed the aboriginal of the U.S. dollar successful an interrogation with Tucker Carlson past week. Pomboy is simply a fiscal analyst, marketplace strategist, and economist, who founded Macromavens, a probe steadfast specializing successful emerging planetary economical trends. Before launching her firm, she worked arsenic a managing manager astatine an autarkic economical probe steadfast ISI Group from 1991 to 2002.

“Here, successful the U.S., policymakers inactive person their blinders on, and they ideate that the U.S. dollar volition ne'er beryllium challenged arsenic the world’s reserve currency, and that we tin proceed to people wealth … indefinitely,” she began.

The economist explained that successful reality, a increasing fig of countries are moving distant from the U.S. dollar. “They are not buying Treasury bonds anymore and they are diversifying [away from] our dollar into gold, into oil, and strategical resources,” Pomboy detailed. “And they’re starting to commercialized successful section currencies. They don’t person to transact successful dollars.” She stressed:

The demise of the U.S. hegemony is truly upon us, and the Biden medication and truthful galore successful Washington are conscionable sleeping close done it.

An expanding fig of countries are shifting distant from the U.S. dollar, opting for commercialized successful their nationalist currencies. Notably, the BRICS nations (Brazil, Russia, India, China, and South Africa) person advocated for the usage of local currencies. Six further countries, namely Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, person received invitations to articulation the BRICS. The economical bloc has besides explored the anticipation of creating a communal currency. Sergey Lavrov, Russia’s overseas affairs minister, precocious stated that astir “30 countries would similar to found spouse ties with BRICS.”

Multiple radical person likewise warned of the U.S. dollar losing its satellite reserve currency status. Rich Dad Poor Dad writer Robert Kiyosaki has repeatedly cautioned astir the extremity of the USD. Economist Peter Schiff has said galore times that the U.S. dollar is adjacent a historical crash. Renowned capitalist Jim Rogers has warned of the dollar’s dominance ending, seeing the Chinese yuan arsenic a USD competitor.

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