BITCOIN

Nobel Prize-winning economist Paul Krugman says that no currency can play the role of the U.S. dollar. Commenting on the de-dollarization trend and the possible U.S. default, he emphasized that without the USD, “financial markets will be disrupted by the lack of any safe, liquid asset.” Economist Paul Krugman on De-Dollarization and USD Alternatives Paul Krugman, who won the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 2008 for his analysis of trade patterns and location of economic activity, shared his opinion Sunday about a possible U.S. default and the U.S. dollar losing its status as the world’s reserve currency. He explained in a tweet: The risk from a debt default is *not* that some other currency will take over the key role now played by dollar securities. It is that *no* currency will be available to play that role — that financial markets will be disrupted by the lack of any safe, liquid asset. Krugman is not worried about the U.S. dollar l

U.S. Treasury Secretary Janet Yellen has insisted that the U.S. could default on its debt obligations on June 1. “I think that’s a hard deadline,” she stressed. Meanwhile, global investment bank Goldman Sachs has estimated that the “real deadline” for a possible U.S. default is “more like” June 8-9. Yellen and Goldman Sachs on U.S. Default, Debt Ceiling U.S. Treasury Secretary Janet Yellen reiterated her concerns about a possible U.S. default on NBC’s “Meet the Press” Sunday. Responding to a question about the June 1 deadline for a possible U.S. default, she said: I indicated in my last letter to Congress that we expect to be unable to pay all of our bills in early June and possibly as soon as June 1. And I will continue to update Congress, but I certainly haven’t changed my assessment. So I think that’s a hard deadline. However, the U.S. government is expecting some tax payments on June 15 which would provide some revenue. When asked about the likelihood the U.S. could get to