Elon Musk predicts a global collapse in the value of the dollar... for this reason.
The American businessman, Elon Musk, expressed his deep concern about the future of his country's currency, warning that the dollar may lose its value due to increasing lack of confidence in it.
The American businessman, Elon Musk, expressed his deep concern about the future of his country's currency, warning that the dollar may lose its value due to increasing lack of confidence in it.
In a tweet on the "X" platform, Musk emphasized the necessity of addressing the crisis of American debt, pointing out that failure to do so could lead to the collapse of the dollar's value. He wrote: "We need to take decisive steps to address our national debt problem, otherwise the dollar will become worthless."
These warnings from Musk add to the growing concerns of economic experts about the future of the US dollar, especially with the continued alarming increase in American public debt.
In this context, Vitor Gaspar, the Director of the Fiscal Affairs Department at the International Monetary Fund, pointed out that the growth of American public debt "casts its shadow on the global economy, which could create negative repercussions for all countries worldwide."
On his part, Alexey Moiseev, the Executive Director for Russia at the International Monetary Fund, did not rule out the possibility of the collapse of the current global monetary system due to the increasing lack of confidence in the US dollar.
Moiseev explained that the global monetary system relies on confidence that dollar assets are safe and reliable. However, he noted that central banks, financial institutions, and even households have already begun selling dollar assets and buying gold due to increasing lack of confidence in the safety of the US dollar.