- Kitco NEWS
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.
0:00 – Dollar losing status as reserve currency
5:38 – Fed policy tools
9:55 – What would replace the dollar?
10:56 – Biden’s fiscal stimulus plans