Stanley Druckenmiller says the Fed is endangering the dollar's global reserve status

Over the long haul, he said, the policies and the heavy debts and deficits they support will threaten the dollar's standing as the world's reserve currency. That status means the dollar is accepted for transactions and as a store of wealth anywhere and is widely held by central banks around the world.

"If we're going to monetize our debt and we're going to enable more and more of this spending, that's why I'm worried now for the first time that within 15 years we lose reserve currency status and of course all the unbelievable benefits that have accrued with it," he added. "I don't know how many pandemics Stan has lived through. These don't come along that often," Bullard said on CNBC's "Closing Bell." I think the response was really good both on the fiscal and monetary side."

However, he noted that in the early days of the pandemic, other foreign governments already voiced their concerns about the dollar by selling Treasurys, the opposite of what normally would happen in a crisis when ultra-safe U.S. debt is generally seen as a haven.

Michael Saylor explains why Bitcoin trumps Gold in under 4 minutes | Th... via YouTube CryptoNews cryptocurrency bitcoin btc

steveliesman Priced two new air conditioning units for a property in Arizona. Sticker shock! 😳. Inflation just getting started and a Massive A/C shortage coming this summer. Side note: when asked, said I’d pay in $BTC. Without missing a beat, the owner said he’d prefer $GME shares 😂😂

steveliesman I wonder if the CPI data leaks like the previous jobs numbers.

steveliesman The CPI report only matters for people who don’t want to buy a house, get an education, pay for healthcare, or save enough to retire. The CPI doesn’t measure those things it’s a juked stat made up to keep benefits low and money cheap.

steveliesman 60k for a deck? Yikes! I’d rather sit on the front lawn in a beach chair w a portable grill😄

steveliesman Data may be skewed comparing numbers to one year ago. One year ago oil futures went negative. Just one example how the numbers now may look out of whack in comparison.

steveliesman Thanks Biden! Glad we could all see so clearly this was going to happen🥴

steveliesman I recall prices went up last year during the start of the pandemic and after businesses reopened. I was paying $16 at the barber and then it went up to $25. Prices seem to go up every damn year but the paycheck, not so much.

steveliesman

jam_croissant steveliesman This isn’t inflation, it’s a speculative mania made to look like inflation except labor force participation is shit along with wages and money velocity so where is the “inflation” coming from?

Health Health Latest News, Health Health Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

WHO Says Indian COVID Strain ‘a Variant of Concern’As COVID-related deaths exceed 4,000 a day in India, the World Health Organization says a coronavirus variant first found in that nation is of global concern. This kind of hysteria driven reporting is tiring. The key takeaway is that the current vaccines protect just as effectively against this variant.
Source: WebMD - 🏆 709. / 51 Read more »

Coronavirus Strain Found in India Is a ‘Variant of Concern,’ WHO SaysA coronavirus variant first identified in India will be classified as a “variant of concern” by the World Health Organization, which said preliminary studies showed it may be more transmissive than some other variants Put that on my gravestone, “variant of concern!” As in, “Here lies Yukon Hiker, he was a variant of Concern!” Why is WSJ afraid of calling coronavirus as Chinese virus or wuhan virus.? They can easily name a variant on India but can't name the originating country? And these cartoons call themselves true journalists. 🤣
Source: WSJ - 🏆 98. / 63 Read more »