Despite some recent headlines focusing on the concept of de-dollarization, US Dollar supremacy remains unchallenged. This assessment was shared by billionaire venture capitalist Chamath Palihapitiya during his podcast All-In. He pointed out that 187 countries outside the United States are currently relying on the US Dollar and have no intentions of creating their own currency.
At the same time, Palihapitiya points out that a weaker dollar might not be entirely bad news for the United States. As the dollar is being devalued, countries are able to purchase US products and services at a discount, thus providing a boost to American economy as a whole.
Though the US government is likely to stay on the path of long-term currency debasement, Palihapitiya suggests the best way to cope with the situation is by investing in risk assets such as stocks and cryptocurrencies. By doing so, one should be able to cope with the inflation of the money supply which is, in the long run, the only way for politicians to stay in power.
Dorothy Reyes
- 2023-05-14
US Dollar Supremacy Remains Unchallenged
Billionaire venture capitalist Chamath Palihapitiya shared his assessment that US Dollar supremacy remains unchallenged and 187 countries outside the US continue to rely on the currency. He suggested that one of the best coping mechanisms to stay on top of the situation is by investing in risk assets such as stocks and cryptocurrencies.
