Former Goldman Sachs CEO: ‘The US dollar is ready’

The future of the US dollar and the position of the United States on the world stage are anything but certain at the moment, according to a former top executive. It concerns Charles Nenner, who was active at Goldman for more than 10 years. According to In fact, the BRICS countries are a much bigger threat than most people think.

Problems for the dollar

According to Nenner, the US dollar is in such trouble that there is no reason to hold on to the currency. “In particular, they underestimate the situation around BRICS and all countries that are an anti-dollar. Saudi Arabia is also coming on board, which means the end of the US dollar as a world reserve currency,” said Nenner.

However, that seems a bit premature, because the US dollar is still the big boss at the moment and there is really no alternative. For example, Europe will never switch to the Chinese yuan, they will rather opt for the dollar.

In that respect, it remains to be seen whether the US dollar will actually come to an end. The currency may get more competition, but predicting the end of its reign seems a bit over the top. However, according to Goldman Sachs’ Nenner, it is just about ready for the coin.

‘The economy is struggling’

According to Nenner, the economy in particular will be hit hard by the problems of the US dollar. “If the US dollar really drops, we could get a small revival in the form of higher exports. But that would mostly fool people. In the long run, it’s just done,” said Nenner.

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According to the former Goldman Sachs CEO, the US empire is threatened by the potential of a global war cycle, the collapse of commercial real estate and other systemic risks.

A crash in the style of the “Great Depression” cannot be completely ruled out, he says. “In general, that means the end of an empire,” says Nenner clearly. Bitcoin does not seem to play a role in his analysis yet.

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