In The News Today

Posted at 9:04 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Larry Fink, world’s largest asset manager…doesn’t sound as crazy coming from a mainstream guy does it?

World’s Largest Asset Manager Warns: The Dollar’s Days As Global Reserve Currency Are Numbered
November 7, 2018

Have BlackRock CEO Larry Fink and Russian President Vladimir Putin been comparing notes?

In comments that sound eerily similar to a warning issued by Putin, who warned during a speech last month that the US risked undermining the dollar’s reserve currency status with its sanctions regime, the CEO of the world’s largest asset-management firm said Tuesday during a panel discussion at the New Economic Forum in Singapore that the US dollar’s status as the world’s dominant currency wouldn’t last forever.

And instead of citing external factors like China’s expanding economic clout and influence, or an insurgent Russia, Fink pointed to the widening US budget deficit as the biggest risk to the dollar’s status as the global hegemon. And while it might not happen tomorrow, or next year, over time, as US interest rates rise and the federal government strains under its tremendous debt burden, the creditors who were once eager to buy up Treasury bonds will gradually disappear.

“We’re going to move there over time” Fink said.

More…

Bill Holter’s Commentary

Again, “it is all about credit”!