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 really upon us,” emphasizing that the Biden administration and lots of U.S. policymakers in Washington “are just sleeping right through it.” She identified {that a} rising variety of nations are decreasing their reliance on the U.S. greenback and opting to make use of native currencies in worldwide commerce.

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

Economist Stephanie Pomboy mentioned the way forward for the U.S. greenback in an interview with Tucker Carlson final week. Pomboy is a monetary analyst, market strategist, and economist, who based Macromavens, a analysis agency specializing in rising international financial traits. Before launching her agency, she labored as a managing director at an impartial financial analysis agency ISI Group from 1991 to 2002.

“Here, in the U.S., policymakers still have their blinders on, and they imagine that the U.S. dollar will never be challenged as the world’s reserve currency, and that we can continue to print money … indefinitely,” she started.

The economist defined that in actuality, a rising variety of international locations are transferring away from the U.S. greenback. “They are not buying Treasury bonds anymore and they are diversifying [away from] our dollar into gold, into oil, and strategic resources,” Pomboy detailed. “And they’re starting to trade in local currencies. They don’t have to transact in dollars.” She confused:

The demise of the U.S. hegemony is actually upon us, and the Biden administration and so many in Washington are simply sleeping proper by way of it.

An rising variety of international locations are shifting away from the U.S. greenback, choosing commerce of their nationwide currencies. Notably, the BRICS nations (Brazil, Russia, India, China, and South Africa) have advocated for using local currencies. Six additional countries, specifically Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, have obtained invites to hitch the BRICS. The financial bloc has additionally explored the opportunity of creating a standard foreign money. Sergey Lavrov, Russia’s international affairs minister, just lately said that roughly “30 countries would like to establish partner ties with BRICS.”

Multiple folks have equally warned of the U.S. greenback shedding its world reserve foreign money standing. Rich Dad Poor Dad writer Robert Kiyosaki has repeatedly cautioned concerning the finish of the USD. Economist Peter Schiff has mentioned many occasions that the U.S. greenback is close to a historic crash. Renowned investor Jim Rogers has warned of the greenback’s dominance ending, seeing the Chinese yuan as a USD competitor.

Do you agree with economist Stephanie Pomboy concerning the demise of the U.S. greenback? Let us know within the feedback part under.