BITCOIN

Economists have warned about the adverse impact of Fitch’s U.S. rating downgrade on the dollar. One expects the downgrade to “accelerate” the process of de-dollarization globally. Another stated that it may be “a part of the gradual decline of the U.S. dollar system.” Impact of Fitch’s Rating Downgrade on US Dollar Several economists have offered their perspectives on the adverse effects stemming from Fitch Ratings’ decision to downgrade the long-term foreign-currency issuer default rating of the United States from AAA to AA+. Fitch Ratings is one of the top three credit rating agencies in the U.S. Citic Securities’ chief economist, Ming Ming, told the Global Times on Wednesday: Amid the increasingly complex geopolitical situation today, more and more countries have started the de-dollarization process and Fitch’s downgrade of the U.S. rating may accelerate that process. In response to Fitch Ratings’ downgrade, both the White House and Treasury Secretary Janet Yellen released

Economist Peter Schiff has warned of an impending collapse of the U.S. dollar even though he sees Fitch’s downgrade of the U.S. rating this week as “meaningless.” While cautioning about a financial crisis and a crash, Schiff emphasized: “Given the trajectory of U.S. government deficit spending, a dollar collapse is inevitable.” Schiff on US Rating Downgrade, Crash, Dollar Collapse Economist and gold bug Peter Schiff warned of a U.S. dollar collapse and the challenges faced by the U.S. economy in a series of tweets this week. His warnings come after Fitch Ratings downgraded the United States’ long-term foreign-currency issuer default rating from AAA to AA+. Fitch is one of the three largest credit rating agencies in the U.S. Noting that “Fitch downgrading U.S. Treasuries to AA+ from AAA is meaningless, as Treasuries are junk bonds,” Schiff tweeted on Wednesday: When it comes to rating sovereign credit, the primary risk is currency depreciation, not default. Given the trajectory o

Robert Kiyosaki, the renowned author of the bestselling book Rich Dad Poor Dad, has emphasized his concern about an impending crash of the U.S. economy after a prominent American credit rating agency downgraded the U.S. rating. “Brace for crash landing. Sorry for the bad news,” Kiyosaki said. Robert Kiyosaki’s Crash Landing Warning The author of Rich Dad Poor Dad, Robert Kiyosaki, has reiterated his warning about the U.S. economy heading for a “crash landing.” His cautionary message followed the decision by Fitch Ratings, one of the top three credit rating agencies in the U.S., to downgrade the U.S. debt rating from AAA to AA+. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki tweeted Wednesday: First shoe to drop. Fitch rating services downgrades U.S. credit rating