{"id":20105,"date":"2023-04-22T06:21:09","date_gmt":"2023-04-22T06:21:09","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/financial-analyst-charles-nenner-warns-about-the-end-of-the-us-dollar-and-its-consequences-economics-bitcoin-news\/"},"modified":"2023-04-22T06:21:09","modified_gmt":"2023-04-22T06:21:09","slug":"financial-analyst-charles-nenner-warns-about-the-end-of-the-us-dollar-and-its-consequences-economics-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/financial-analyst-charles-nenner-warns-about-the-end-of-the-us-dollar-and-its-consequences-economics-bitcoin-news\/","title":{"rendered":"Financial Analyst Charles Nenner Warns About the End of the US Dollar and Its Consequences \u2013 Economics Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n\n<\/div>\n

Charles Nenner, a financial analyst that served as head of market timing for Goldman Sachs for more than a decade, has warned about the end of dollar hegemony and its consequences for the U.S. According to Nenner, the BRICS bloc and the influence of Saudi Arabia will end the dollar as a reserve currency, and this could cause a flight to safety.<\/strong><\/p>\n

Charles Nenner Predicts End of USD Hegemony<\/h2>\n

The U.S. dollar will be undermined as a reserve currency; this is what Charles Nenner, a financial cycles analyst, has predicted for the future. Nenner, who had previously projected the dollar was going to survive, changed his opinion recently, stating that the decline of the U.S. dollar has already begun.<\/p>\n

In a recent interview with USA Watchdog, Nenner stated<\/a>:<\/p>\n

\n

I said the dollar is going to hold up, but not anymore, not anymore. It is really in trouble. There is actually no reason to be in the dollar.<\/p>\n<\/blockquote>\n

The financial analyst estimates that the recent breakout of the BRICS block, composed of Brazil, Russia, India, China, and South Africa, will play a special part in the process, with the help of Saudi Arabia, bringing the dollar hegemony as global reserve currency down.<\/p>\n

Nenner believes that, mid-cycle, the economy could experience a bounce due to the weakness of the dollar favoring exports. He explained:<\/p>\n

\n

The economy is really going to suffer. If the dollar goes really low, we could have a small bounce in the economy because it\u2019s good for exports. That\u2019s just a fooling bounce for people. Longer term, it\u2019s just finished.<\/p>\n<\/blockquote>\n

Unintended Consequences<\/h2>\n

Nenner explains that the fall of the dollar will have a series of consequences for the U.S., starting with other countries running to get rid of U.S. treasuries and running to safety in other assets, including silver and gold.<\/p>\n

\n

We are going to have a bad dollar. That usually means people are going to dump their securities. If you have China and Russia dumping their U.S. bonds, you are going to have a problem. I am getting very worried because there might be a run for safety.<\/p>\n<\/blockquote>\n

China is one of the biggest holders<\/a> of U.S. treasuries, with $867 billion in U.S. bonds held, comprising a little more than 10% of the total share of the U.S. Debt, just behind Japan.<\/p>\n

Other analysts have also predicted the demise of the U.S. dollar recently. Jeffrey Tucker has recently<\/a> said the U.S. dollar is at a turning point and that it won\u2019t be the king currency anymore. In the same way, Nouriel Roubini has stated<\/a> the global economy will shift into a bipolar system, using the Chinese yuan as an alternative to the U.S. dollar.<\/p>\n

What do you think about Charles Nenner\u2019s predictions? Tell us in the comments section below.<\/strong><\/em><\/p>\n

\n
\n\n<\/div>\n
\n
\nSergio Goschenko <\/h6>\n

\nSergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.<\/p>\n<\/div>\n<\/div>\n

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

\n

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

\n