Ace investor Warren Buffet has long been known as the share market master, a maestro whose words are capable of shifting market dynamics. With the growing anti-USD dynamics at play, markets and nations have started to be wary of US dollar usage. With the US debt crisis deepening with each passing day, speculatory sprees on the internet have already started to predict the US dollar’s demise. However, according to Buffet, the US dollar has yet to witness the grand haul.
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Warren Buffet Predicts a Timeline For The US Dollar Supremacy
As per ace investor Warren Buffet, the US dollar should reign holistically for 50 years in international markets. The prediction was initially issued by Business Insider in 2015 that Buffett was an active participant.
Speaking in detail about the reasons backing his US dollar supremacy theory, the famed investor quipped that he does not see any alternate currency that could replace the USD in the long haul.
“We are the reserve currency. I see no option for any other currency to be the reserve currency. And I think the dollar will be the world’s reserve currency 50 years from now. I think the probabilities of that are very high,” he said. ”The billionaire shared.
In simpler terms, per Warren Buffet, the US dollar will indisputably remain the top currency until the year 2065. When asked about his confident stance on the US dollar, Buffet shared how he believes in the power of the US dollar and that he would bet his money on it anytime without further reluctance.
“Nothing certain. But I would bet a lot of money on that one.”
The Real Power Dynamics at Play: ASEAN
In real-world dynamics, Buffet’s positivism concerning the US dollar could soon wither away. With US debt metrics rising at a rapid level, projections of the debt breaching the $35 trillion mark are currently wreaking havoc in the space. Apart from that, the ten bloc nations, dubbed ASEAN, are also spearheading efforts to derail the US dollar by reportedly working on launching their currency. Along with BRICS, the aforementioned alliances could prove lethal for the US dollar in the long run.
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The world is gradually inching towards embracing the multipolar currency aspect, which is giving stiff competition to the USD’s reserve currency position.
With ASEAN nations being particularly wary of the US’s strategy of weaponizing the dollar, the mounting pressure on the US dollar to secure its reserve currency status in the long haul has certainly gained strength.
“The weaponization of the USD has made investors and policymakers alert. To the risk of their deposits, assets, or payment systems being seized. Or confiscated, or frozen in the event of geopolitical disagreements with the West.” Asia Times reiterated
