US Dollar Will Crash “Faster and Harder,” Says Pro-Bitcoin Economist

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A recent sharp pullback move in the US dollar market is insufficient to log a full-fledged upside breakout. So says Stephen Roach, the former chairman of Morgan Stanley Asia. The pro-Bitcoin economist wrote in an op-ed that the US dollar could fall by as much as 35 percent by the end of 2021 due to strengthening foreign currencies, rapid macroeconomic imbalances in the US, and the end of the American hegemony over global reserve assets. Mr. Roach stressed that the net national savings rate in the US has plunged into negative territory for the first time since the 2008-09 economic crisis. It did so with an unusually higher downside momentum, falling 3.9 percentage points from the previous quarter – the sharpest decline since 1947. Expansionary Policies The fall in national savings occurred despite a brief uptick in personal savings, the Yale faculty added. It showed that the Americans failed to…

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