Reported about 11 hours ago
Nassim Taleb, the author of 'The Black Swan,' expressed deep concerns regarding the U.S. dollar's status in global finance, triggered by Western sanctions on Russian assets post-Ukraine invasion. He characterized these sanctions as 'confiscation' and warned that they deter investment in the dollar. While the dollar remains prevalent in transactions, its share as the top reserve currency is decreasing, prompting central banks to seek alternatives like gold. Taleb fears this trend, compounded by rising U.S. debt, could jeopardize the dollar's position and harm the U.S. economy significantly.
Source: YAHOO