After the Federal Reserve prepared for a surge in the prices of cryptocurrencies such as Bitcoin, Ethereum and Ripple and quietly admitted that gold is replacing the dollar, the International Monetary Fund (ING) warned of a serious collapse of the US dollar, mentioning that the US dollar's share of foreign exchange reserves allocated by central banks and governments will fall "substantially".
IMF economists Serkan Arslanalp, Barry Eichengreen and Chima Simpson-Bell wrote in their report: "TheWhat is striking is that The decline of the dollar over the past two decades has not been matched by a rise in the share of the other four major currencies, including the euro, the yen and the pound sterling." IMF economists Serkan Arslanalp, Barry Eichengreen and Chima Simpson-Bell wrote in their report: "TheWhat is striking is that The decline of the dollar over the past two decades has not been matched by a rise in the share of the other four major currencies, including the euro, the yen and the pound sterling."
"The Fed now recognizes that some countries are turning to gold," Balaji Srinivasan, a tech investor and former CTO of Coinbase, said in a Twitter post, referring to 3 billion people. As a result, 37.5% of the world's population is shifting from the US dollar to gold.
"The Fed is now admitting that some countries are turning to gold," Balaji Srinivasan, a tech investor and former Coinbase CTO, tweeted, saying that the "small minority" the Fed is talking about represents 3 billion people. Therefore, 37.5% of the world's population is turning from the dollar to gold.
Former billionaire Chamath Palihapitiya has predicted that as countries adopt bitcoin, it could "completely replace gold," potentially pushing its market value towards gold's $15.7 trillion.
Former billionaire Chamath Palihapitiya has predicted that Bitcoin could “completely replace gold” as countries adopt it, potentially pushing its market value toward gold’s $15.7 trillion.
The world's central banks have begun to cut interest rates, indicating a broader trend of monetary easing, Bitfinex separators wrote in emailed comments. Federal Reserve Chairman Jerome Powell said that following the European Central Bank's cut in eurozone interest rates at the start of the month, it was clear that the Bank of England and the Federal Reserve would follow suit in the coming months. The global liquidity cycle indicates that the money supply is likely to increase, which can support asset prices, including cryptocurrencies.
"Central banks around the world have already started cutting interest rates, which suggests a broader trend towards monetary easing," Bitfinex analysts wrote in emailed comments. "Following the European Central Bank's cut in euro zone interest rates earlier this month, it is clear that the Bank of England and the Federal Reserve will follow suit in the coming months," Fed Chairman Powell said. "The global liquidity cycle suggests that money supply may increase, which can support asset prices, including cryptocurrencies."
