{"id":19631,"date":"2023-04-09T02:46:17","date_gmt":"2023-04-09T02:46:17","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/economist-peter-schiff-advises-get-rid-of-your-us-dollars-now-warns-usds-reserve-currency-status-in-jeopardy-economics-bitcoin-news\/"},"modified":"2023-04-09T02:46:17","modified_gmt":"2023-04-09T02:46:17","slug":"economist-peter-schiff-advises-get-rid-of-your-us-dollars-now-warns-usds-reserve-currency-status-in-jeopardy-economics-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/economist-peter-schiff-advises-get-rid-of-your-us-dollars-now-warns-usds-reserve-currency-status-in-jeopardy-economics-bitcoin-news\/","title":{"rendered":"Economist Peter Schiff Advises ‘Get Rid of Your US Dollars Now’ \u2014 Warns USD’s Reserve Currency Status in Jeopardy \u2013 Economics Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Economist Peter Schiff has urged people to get rid of their U.S. dollars now as a growing number of countries have escalated their efforts to reduce their dependence on the U.S. and the USD. \u201cThe dollar\u2019s reserve currency status is in jeopardy, as is the American standard of living that depends on it. The best move you can make to mitigate your personal loss is to divest of dollars and dollar-denominated financial assets,\u201d he stressed.<\/strong><\/p>\n

Get Rid of U.S. Dollars Now, Says Peter Schiff<\/h2>\n

Gold bug and economist Peter Schiff has urged U.S. dollar holders to get rid of their USD now. He tweeted Friday:<\/p>\n

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How much clearer does the writing on the wall need to be? Get rid of your U.S. dollars now, while there\u2019s still enough people who still can\u2019t read it.<\/p>\n<\/blockquote>\n

His tweet was prompted by an article<\/a> titled, \u201cSaudi Arabia, Southeast Asian Nations Swipe Left on US Dollar Dependence,\u201d which highlights the mounting efforts by countries in Southeast Asia and the Middle East, particularly Saudi Arabia<\/a> and ASEAN nations<\/a>, to reduce their reliance on the U.S. and the dollar. The Turkish central bank<\/a> also recently unveiled measures to ramp up their de-dollarization efforts.<\/p>\n

Schiff tweeted on Thursday:<\/p>\n

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The dollar\u2019s reserve currency status is in jeopardy, as is the American standard of living that depends on it. The best move you can make to mitigate your personal loss is to divest of dollars and dollar-denominated financial assets.<\/p>\n<\/blockquote>\n

The economist has repeatedly issued warnings about the state of the U.S. economy and the looming devaluation of the U.S. dollar. In a recent tweet<\/a>, he cautioned that the U.S. economy is \u201cpoised on the biggest economic disaster in its history,\u201d emphasizing that we are on the cusp of a financial crisis that will be bigger than the last one.<\/p>\n

Schiff also tweeted Thursday:<\/p>\n

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Soon everyone in America will be a multi millionaire. But don\u2019t get too excited. Chewing gum will sell for over $1,000 per pack and all those higher taxes meant to soak today\u2019s millionaires and billionaires will drench tomorrow\u2019s middle class.<\/p>\n<\/blockquote>\n

Do you agree with Peter Schiff about the U.S. dollar\u2019s reserve currency status being in jeopardy and will you take his advice and sell the U.S. dollar now? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin 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.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, lev radin<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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