THE END OF THE US DOLLAR AS THE WORLD’S RESERVE CURRENCY?
In late October of
2015, the International Monetary Fund (IMF) is scheduled to meet to determine, among other matters, if the US
dollar will remain as the global reserve currency preferred in international
trade. Several scholars and financial gurus have opined that this decision, if
it does occur, may usher in a drastic devaluation of the US dollar.
James Rickards in his
book “The Death of Money” (Portfolio/Penguin Publishers 2014)
details the demise of the dollar. Rickards spent years working as one of the
CIA’s most trusted financial experts analyzing international trade, terrorist
related hacking and manipulation of the world’s financial markets. After
reading this book, I wonder where our investments can be safe for future
My good friend and
financial colleague, Steve Johnson of Ashton Royce in Williamsburg, Virginia,
suggests there is no currency or “bucket” of multiple currencies that the IMF
can use which may be stronger or safer than the US dollar. His viewpoint suggests
if there is a financial collapse in the US, it won’t be due to the dollar being
exchanged for other currencies as the global reserve currencies.
Look to see what the
IMF decides to do at its October 2015 meeting.
Food for thought.
September 24, 2015