Buffett said it’s unlikely that the U.S. dollar is dethroned as the reserve currency, even amid concerns about the debt ceiling.
"We are the reserve currency,” he said. “I see no option for any other currency to be the reserve currency.” Buffett said nobody understands the debt situation like Jerome Powell, but he’s not in charge of fiscal policy. And Buffett said people act differently when they distrust the currency.
“Nobody knows how far you can go with a paper currency before it gets out of control, and particularly if you’re the world’s reserve currency,” Buffett said.
“You don’t want to try and pick out the point where it does become a problem because then it’s all over.”
What are your thoughts on BRICS? Comment in the section below and don’t forget to like and subscribe as it helps my channel grow, thank you!
Please note I am not a financial advisor, and this is for entertainment purposes only. Always consult a licensed advisor before investing your money.
#buffett #warrenbuffet #warrenbuffett #brics #economy #economicnews #uscurrency #useconomy #federalreserve #inflation #inflation2023 #china #russia #brazil #stockmarket #stocks
