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US dollar’s time as preeminent currency nearing end
05-06-2023 15:11
US dollar’s time as preeminent currency nearing end
US dollar’s time as preeminent currency nearing end

Ordinary Americans are beginning to realize that the dollar is no longer the same. As the grim reality unfolds, years-long faith in the omnipotence of the US dollar gives way to thoughts of its loss of status as the world's preeminent currency in global trade. They are starting to acknowledge that the greenback’s dominance is facing serious challenges.

For a long time, the US government managed to maintain beliefs about the dollar's supremacy. However, there is increasing evidence that this is not the case. Thus, US investor Jim Rogers shared his opinion with the RIA news agency. "The American dollar’s time is coming to an end," he said. Rogers attributes this to the country’s huge national debt level. The United States is currently the world's largest debtor nation. "Many people are starting to say: ‘Wait a minute, I don’t know if we want to use that money, because it will have a problem someday," the investor noted.

"The world’s international currency is supposed to be completely neutral. Anybody can use it for anything you want. But now Washington is changing the rules. And if they get angry at you, they cut you off," Rogers said.

At the same time, he added that the world had not yet found "something to replace or even compete with the dollar." According to the investor, the Chinese yuan could take up that role, but it is not completely converted.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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