Gold bug and economist Peter Schiff has urged U.S. dollar holders to get rid of their USD now. He tweeted Friday:
"How much clearer does the writing on the wall need to be? Get rid of your U.S. dollars now, while there’s still enough people who still can’t read it."
"The dollar’s reserve currency status is in jeopardy, as is the American standard of living that depends on it. The best move you can make to mitigate your personal loss is to divest of dollars and dollar-denominated financial assets".
The economist has repeatedly issued warnings about the state of the U.S. economy and the looming devaluation of the U.S. dollar. In a recent tweet, he cautioned that the U.S. economy is “poised on the biggest economic disaster in its history,” emphasizing that we are on the cusp of a financial crisis that will be bigger than the last one.
Schiff also tweeted Thursday:
"Soon everyone in America will be a multi millionaire. But don’t get too excited. Chewing gum will sell for over $1,000 per pack and all those higher taxes meant to soak today’s millionaires and billionaires will drench tomorrow’s middle class".
source We have seen lately how many individual bodies, government representative of different country's have been on the motion of finding another alternative to the US dollar, which many are already adopting to new international payment currency, why others are still using it to some point.
Read lots of article lately regarding Dedollarisation, my question here are:
Are we totally ready for the so called "DEDOLLARISATION" ?
Will there be any negative impact on the world economy if a hatch decision is being taken towards abandoning the USD for any alternative?
Hey, peeps! You gotta listen to Peter Schiff's rant about how the U.S. dollar's reserve currency status is under threat. Lots of countries are ditching the dollar for their international transactions, and it could really mess up the U.S. economy and our lifestyle. Schiff's warning is legit, but chill, it's not the apocalypse, but it's definitely a change that we gotta be ready for.
But what does it mean to "divest of dollars and dollar-denominated financial assets"? It's not like you can just sell all your dollars and toss your loot into other currencies or assets. That's child's play compared to the real deal. There's also the risk of being either too early or too late to the party. So, what's the lowdown? That's a tough question, and no one has a clear answer.