If Fed keeps acting like an ‘ostrich,’ China will replace dollar as top currency

[xizhimen]

If Fed keeps acting like an ‘ostrich,’ China will replace dollar as top currency
May 11, 2021

Guest(s): Danielle DiMartino Booth CEO, Quill Intelligence

Even in light of a clearly recovering economy, and new COVID cases on the decline, the government continues to inject liquidity into the financial system through fiscal and monetary stimulus, with the end result being the devaluation of the dollar and losing its global reserve currency status to China, said Danielle DiMartino Booth, CEO of Quill Intelligence.

“We are no longer in an emergency situation. If the Fed is going to insist on being an ostrich and sticking its head in the sand, while it's pumping out $120 billion per month of quantitative easing as if we were in a depression, then yes, I see every reason for China to continue playing its very game with with the intention of eventually unseating the U.S. dollar,” DiMartino booth told Michelle Makori, editor-in-chief of Kitco News.

If Fed keeps acting like an ‘ostrich,’ China will replace dollar

If Fed keeps acting like an ‘ostrich,’ China will replace dollar as top currency

www.kitco.com