US Dollar Collapse Now Inevitable, Wall Street Dumping Greenback
Reign of the Once Almighty Dollar Coming to an End, Even JP Morgan Predicts World Reserve Currency Status is Over
SOTN Editor’s Note: This Alt Media network has been warning for nearly 12 years that this day would come. The election of Donald Trump has sealed the fate of the U.S. dollar. His disastrous foreign policy has greatly accelerated the termination of the Petrodollar as the world’s dominant reserve currency.
No empire is so strong and invulnerable that it can get away with non-stop financial terrorism and economic sabotage as carried out by the Trump administration. Whenever a self-proclaimed superpower morphs into a global bully, the blowback will be harsh and devastating. Because the locus of international power and influence has already shifted from the West to the East, these eventualities are now cut in stone. That’s why it entirely true that Trump Was Chosen To Implement The Nuclear Option—To Declare A US, Inc. Bankruptcy
CAVEAT: The sooner the American people take back their government from those who stole it decades ago, the less severe the collapse will be. Nevertheless, there is no stopping the upcoming market crashes, the U.S. currency being one of the first to crash and burn.
State of the Nation
July 25, 2019
JP Morgan says dump US dollar as its century of global dominance coming to end
© Getty Images / Buena Vista Images
RT.com
The US dollar will struggle to remain the top international currency in the coming decades as the rising power of Asian economies is set to undermine its leading position, Wall Street bank JPMorgan Chase has predicted.
“The US dollar has been the world’s dominant reserve currency for almost a century,” the bank’s strategist Craig Cohen wrote in a report earlier this month.
However, we believe the dollar could lose its status as the world’s dominant currency…due to structural reasons as well as cyclical impediments.
Many other currencies came to their demise throughout history, thanks to shifts in global economic centers, which is now poised to move towards Asia, the strategist points out. While China’s accession to global superpower status is believed to be one of the factors of this shift, it’s not the only one.
The Asian economic zone as a whole (from the Arabian Peninsula and Turkey in the West to Japan and New Zealand in the East, and from Russia in the North and Australia in the South) accounts for two-thirds of global economic growth and 50 percent of global GDP. The growing purchasing power of the region will boost the number of non-dollar transactions, eroding the greenback’s reserve currency status and setting the grounds for its replacement as the dominant international currency, according to the bank.
“In other words, in the coming decades we think the world economy will transition from the US and US dollar dominance toward a system where Asia wields greater power,” JP Morgan concludes.
The only advice here, according to the bank, is to get rid of US dollar ‘overweights’ in investment portfolios and to diversify. While some banks are dumping the dollar in favor of the euro, others prefer a more stable source of value, gold.
As the looming shift is already being felt by some, the demand for the precious yellow metal was at its highest in almost half a century in 2018. Russia and China are leading the gold rush, having added 16 and seven tons respectively to their central bank holdings in May. Both Moscow and Beijing boosted their bullion reserves by more than 70 tons in the first five months of this year.
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https://www.rt.com/business/464928-dollar-dominance-over-jpmorgan/