Economist Peter Schiff Advises ‘Get Rid of Your US Dollars Now’ — Warns USD’s Reserve Currency Status in Jeopardy – Economics Bitcoin News

Economist Peter Schiff has urged people to get rid of their US dollars now that an increasing number of countries have intensified their efforts to reduce their dependence on the US and the US dollar. The dollar’s reserve currency status is at risk, as is the American standard of living on which it depends. He stressed that the best step you can take to mitigate your personal loss is to divest from dollars and dollar-denominated financial assets.

Get rid of your US dollars now, says Peter Schiff

Economist and gold expert Peter Schiff urged USD holders to get rid of the USD now. Friday tweeted:

How much clarity does the writing on the wall need? Throw away your US dollars now, while there are still enough people out there who still can’t read them.

A tweet was pushed by a condition Entitled “Saudi Arabia and Southeast Asian countries swipe left depending on the US dollar”, which highlights the increasing efforts of countries in Southeast Asia and the Middle East, particularly Saudi Arabia and ASEAN countries, to reduce their dependence on the US and the dollar. the Turkish Central Bank It also recently revealed measures to intensify de-dollarization efforts.

Schiff tweeted on Thursday:

The dollar’s reserve currency status is at risk, as is the American standard of living on which it depends. The best step you can take to mitigate your personal loss is to divest from dollars and dollar-denominated financial assets.

The economist has issued repeated warnings about the state of the US economy and the impending depreciation of the US dollar. In a recent tweet, he warned that the US economy is “heading towards the largest economic disaster in its history,” stressing that we are on the cusp of a financial crisis that will be greater than the previous one.

Schiff also tweeted on Thursday:

Soon everyone in America will be a millionaire. But don’t get too excited. The gum will sell for more than $1,000 per pack and all those high taxes meant to suck out today’s millionaires and billionaires will plunge tomorrow’s middle class.

Do you agree with Peter Schiff about putting the US dollar’s reserve currency at risk and would you take his advice and sell the US dollar now? Let us know in the comments section below.

Kevin Helms

Kevin, an Austrian economics student, found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.