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Billionaire real-estate magnate Sam Zell warns that Americans should brace for a "disastrous" 25 percent decline in the standard of living if the U.S. dollar’s reign as the global reserve currency ever ends.
He says that there are signs in the market that it could eventually happen. As it is now, a Korean manufacturer who wants to sell to Brazil must first buy dollars to complete the deal. If countries decide to bypass the dollar, the effect would be a disaster, Zell says.
“Frankly, I think we’re at a tipping point. What’s my biggest single financial concern is the loss of the dollar as the reserve currency,"
Originally posted by elpistolero1
It's time to the rest of the world to gain financial freedom, the dollar will lose some power hopefully, the economy its too tied to the dollar and that's dangerous to other countries economies.edit on 6/3/11 by elpistolero1 because: (no reason given)
Originally posted by CosmicCitizen
What if they (the ubiquitous "they") gave a "Dollar Crash Party" and no one came? With all of the hype about an imminent dollar collapse I am wondering if since it is so widely expected that it will be difficult for it to happen as they plan.