It’s been just revealed that the Wall Street executives are preparing for a massive collapse in the US. Check out the latest reports below.
Wall Street executives are reportedly preparing for the worst in regard to the looming US debt ceiling deadline.
The latest financial news in the US
Citigroup chief executive Jane Fraser says the ongoing partisan debate is “more worrying” than arguments over previous debt ceiling deadlines, according to Reuters.
Reuters reports would be “the most disruptive scenario” would be if the Treasury doesn’t offer extensions and fails to pay bonds.
Rob Toomey, SIFMA’s managing director and associate general counsel for capital markets, stated the following about the crisis:
“It is difficult because this is unprecedented but all we’re trying to do is make sure we develop a plan with our members to help them navigate through what would be a disruptive situation.”
US predictions claim US dollar reign comes to an end
Famed American investor and co-founder of the Quantum Fund, Jim Rogers, said not too long ago that the dollar’s reign as the world’s reserve currency is coming to an end.
In a new interview with Russian state-owned news agency Sputnik, Rogers stated the fact that America’s politicization of the dollar has both friends and foes focused on alternatives.
“Many people are starting to say, wait a minute. I don’t know if we want to use that money because it will have a problem someday. But also, the world’s international currency is supposed to be completely neutral. Anybody can use it for anything you want. But now Washington is changing the rules. And if they get angry at you, they cut you off.”
Rogers cited the historic failures of reserve fiat assets, which typically last for around 100 years, and he says that these are another signal that the dollar’s dominance has an expiration date.
