Baupost’s Klarman: USD Is On The Way Out As The Reserve CurrencyMichelle Jones
The U.S. dollar has been the world's de facto reserve currency for decades, thanks in part to Washington's ability and willingness to lend money to other nations. However, the tables have turned as the years have dragged on, and the national debt now stands at a staggering $21.9 trillion on the back of an almost-$900 billion budget deficit.
See more Baupost 2018 coverage here
Also see more 2018 Baupost coverage
- Seth Klarman 2018 Letter: Balancing Risk Aversion With Risk-Taking
- When Forever Ends: Baupost’s Klarman Reflects On 2018
- Baupost’s Klarman Outlines 2018’s “Global Disappointment” Amid The Change From Cheer to Fear
- Seth Klarman Blats Of “Unbiased Regulation” In Trump Administration Without Providing Much Detail
It seems like only a matter of time before the U.S. dollar is no longer the world's reserve currency, and a growing number of high-profile names are warning about it, including Baupost's Seth Klarman. In his year-end letter for 2018, Klarman warned that Washington only has itself to blame when the U.S. dollar stops being the world's reserve currency--and that's only a sign of a much bigger problem potentially facing the U.S.
This content is exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here
If you are subscribed and having an account error please clear cache and then cookies if that does not work email email@example.com and we will get back to you as quick as humanly possible