The future of the US dollar and the American empire itself is now firmly in doubt, according to a financial analyst and former Goldman Sachs executive.
Charles Nenner, who worked as head of market timing at Goldman for over a decade, says he’s reversing his long-held belief that the dollar will remain strong.
In a new interview with USAWatchdog, Nenner says the group of economically-aligned nations known collectively as BRICS is a much bigger threat to USD than people realize.
“We have known each other for many years, and I said the dollar is going to hold up. But not anymore, not anymore. It is really in trouble. There is actually no reason to be in the dollar.
They especially underestimate this BRICS [Brazil, Russia, India, China and South Africa] situation, and all the countries will be forming an anti-dollar… Saudi Arabia is coming onboard, and that means the end of the dollar as the reserve currency.”
Nenner believes the long-term fate of the dollar is already sealed.
“The economy is really going to suffer. If the dollar goes really low, we could have a small bounce in the economy because it’s good for exports. That’s just a fooling bounce for people. Longer term, it’s just finished.”
According to Nenner, the American empire is threatened by the potential for a global war cycle, a commercial real estate collapse and additional systemic issues.
He says a “great depression-style” crash is possible in the not-too-distant future.
“The same issues that finished other countries like bad education, too many outstanding loans and people will become too lazy to really do hard work.
That usually means the end of an empire.”
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