Future

Read

<div class="watcher-guru">
 <p>The <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> alliance is challenging the U.S. dollar by aiming to dethrone it from the global reserve currency. The <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> bloc has initiated various cross-border transactions by cutting ties with the U.S. dollar and using local currencies for trade. The alliance is looking to suffocate the U.S. dollar by not using the currency for global transactions. The move will make the U.S. dollar lose in the supply and demand dynamics and strengthen local currencies against the USD.</p>
 <p><strong>Also Read: Iraq Shows Interest To Join BRICS Alliance</strong></p>
 <p>Read here to know how many sectors in the U.S. will be affected if BRICS stops using the dollar for global trade. Considering the present scenario, economist Peter Schiff predicted what the future holds for the U.S. dollar and the American economy.</p>
 <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div class="publift-ad add">
   <div data-fuse="22560828227"></div>
  </div>
 </div>
 <h2 class="wp-block-heading" id="h-brics-economist-peter-schiff-predicts-the-future-of-the-u-s-dollar">BRICS: Economist Peter Schiff Predicts the Future of the U.S. Dollar</h2>
 <figure class="wp-block-image size-full"><img decoding="async" width="1000" height="667" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="economist peter schiff" class="wp-image-61815 ewww_webp" sizes="(max-width: 1000px) 100vw, 1000px" data-src-img="https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp.webp 1000w, https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp.webp 300w, https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp.webp 768w, https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp.webp 380w, https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp.webp 550w, https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp.webp 800w" data-srcset-img="https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp 1000w, https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp 300w, https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp 768w, https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp 380w, https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp 550w, https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp 800w" data-eio="j">
  <noscript><img decoding="async" width="1000" height="667" src="https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp" alt="economist peter schiff" class="wp-image-61815" srcset="https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp 1000w, https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp 300w, https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp 768w, https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp 380w, https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp 550w, https://cdn.thebittimes.com/images/2023/11/01/2a688e23c19f618c2fab1b085aa9b5ad.webp 800w" sizes="(max-width: 1000px) 100vw, 1000px">
  </noscript>
  <figcaption class="wp-element-caption">
   Source: NewsBTC
  </figcaption>
 </figure>
 <p>Economist Peter Schiff predicted that the U.S. dollar is headed for a crash at a time when <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> is dumping U.S. Treasuries, stocks, and government bonds. <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> offloaded $123 billion in U.S. Treasuries this year and are getting rid of the dollar and equities and bonds.</p>
 <p><strong>Also Read: <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a>: De-Dollarization Becoming a Reality</strong></p>
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div id="primisContainer" class="add"></div>
 </div>
 <p>Schiff warned that the U.S. dollar could crash and the American standard of living would come down along with it. <strong>“The dollar will tank, taking the U.S. economy and the American standard of living down with it,”</strong> he said.</p>
 <p>He warned that holding on to U.S. Treasuries is a risk, indicating that BRICS is getting rid of the dangers. <strong>“U.S. Treasuries are now the ultimate risk asset, as losses are guaranteed. There are only two possible outcomes, default &amp; deflation, or devaluation &amp; inflation. The latter option is more politically expedient, which means everyone who owns U.S. dollars will also get destroyed,” </strong>he predicted.</p>
 <p><strong>Also Read: <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a>: Saudi Arabia Lines Up New Trade Deals Beyond Oil</strong></p>
 <p>In conclusion, economist Schiff predicts that the U.S. dollar will tank soon and experience an unprecedented downturn. He also forecasts that the American standard of living will fall along with the currency leading to job cuts. The uncontrolled debt crisis is also one of the reasons why <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> and other countries are staying away from the U.S. dollar.</p>
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div class="publift-ad add">
   <div data-fuse="22560828233"></div>
  </div>
 </div>
 <p></p>
</div>
<div class="cs-entry__tags">
 <ul>
  <li>BRICS</li>
  <li>peter schiff</li>
  <li>US DOLLAR</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/brics-top-economist-predicts-future-of-the-u-s-dollar-tbt68574.html">https://thebittimes.com/brics-top-economist-predicts-future-of-the-u-s-dollar-tbt68574.html</a></p>

BRICS: Top Economist Predicts Future of the U.S. Dollar

Table of Contents

TheBitTimes

Other articles published on Oct 31, 2023

Billionaire with $6 Billion Wealth: “I Don’t Have Bitcoin and Therefore I Made a Mistake”

Experience Evertwine: the ultimate blockchain game reimagined with unrivaled excitement and cutti...

Shiba Inu’s Fast Food Partner Relaunches in Italy

Rumor: Market Makers in Talks to Provide Liquidity to BlackRock’s Bitcoin Spot ETF

Starknet to Distribute 50M $STRK Tokens to Early Contributors

Backpack Receives Virtual Asset Service Provider License in Dubai

Join our free newsletter for daily crypto updates!