Financial Guru Charles Nenner Sounds the Alarm on the Impending Demise of the US Dollar and Its Devastating Ramifications

"Former Goldman Sachs Analyst Warns of Impending End to Dollar Hegemony and its Ramifications for the U.S."

Financial analyst Charles Nenner, who previously served as head of market timing for Goldman Sachs, has warned about the end of dollar hegemony and its consequences for the United States. According to Nenner, the BRICS bloc and the influence of Saudi Arabia will end the dollar as a reserve currency, leading to a flight to safety. Nenner believes that the recent breakout of the BRICS block, composed of Brazil, Russia, India, China, and South Africa, will play a special part in the process, with the help of Saudi Arabia, bringing the dollar hegemony as global reserve currency down.

In an interview with USA Watchdog, Nenner stated that he had previously projected the dollar was going to survive but has since changed his opinion, stating that the decline of the U.S. dollar has already begun. He explained that the fall of the dollar will have a series of consequences for the U.S., starting with other countries running to get rid of U.S. treasuries and running to safety in other assets, including silver and gold.

Nenner explains that the economy could experience a bounce mid-cycle due to the weakness of the dollar favoring exports. However, this is just a temporary bounce, and longer-term, the dollar is finished. Other analysts have also predicted the demise of the U.S. dollar recently. Jeffrey Tucker has recently said the U.S. dollar is at a turning point and that it won’t be the king currency anymore. In the same way, Nouriel Roubini has stated the global economy will shift into a bipolar system, using the Chinese yuan as an alternative to the U.S. dollar.

The fall of the dollar could lead to a series of consequences for the U.S. as other countries may begin to dump their securities, leading to a run for safety. China is one of the biggest holders of U.S. treasuries, with $867 billion in U.S. bonds held, comprising a little more than 10% of the total share of the U.S. Debt, just behind Japan.

As a cryptocurrency journalist based in Venezuela, Sergio Goschenko offers a different point of view about crypto success and how it helps the unbanked and underserved. It is essential to note that this article is for informational purposes only, and it is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in this article.

Martin Reid

Martin Reid

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