U.S. Dollar has reigned king of Global currencies for Decade
The U.S. dollar has reigned king of global currencies for decades, but other countries have
challenged the dollar’s status this year in hopes of unseating it as the world’s reserve
currency. Today, Daniela sat down with Edward Dowd, founding partner of global macro alternative investing firm Phinance Technologies. Edward argues that foreign adversaries using the threat of a gold-backed currency as leverage to weaken the dollar are bluffing. He says, “The dollar system is so ingrained that money and debt are the same thing. All
these countries have dollar-denominated debt… They’re going to have to devalue their
currencies if they go on a gold standard.”
At the same time, presidential candidate Robert F. Kennedy recently unveiled a plan to back the dollar with hard currencies like gold, silver, or bitcoin (BTC). Edward, who serves as co-treasurer to RFK Jr.’s campaign, highlights this potential shift as a foundational element of a new financial system. “Robert’s introducing the conversation into the electorate. The current monetary system, as it stands, is debt based. Might is created through debt. We’ve reached the endpoint so there has to be a new system,” he explains. Edward also contends that the Federal Reserve is using the war on inflation as a guise to keep interest rates elevated and maintain control over the direction of the global economy. “The dollar unfortunately has become a weapon… It’s going to continue to be strong as long as we keep interest rates high. We’re choking off credit from the rest of the world,” he concludes.
Credit to : Stansberry Research