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Why the US dollar is unlikely to lose its shine soon
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The dollar has a big advantage being the incumbent world currency.
PHOTO: REUTERS
Paul Krugman
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The dollar is about to become “toilet paper”, says Mr Robert Kiyosaki, author of Rich Dad, Poor Dad. “Get rid of your US dollars now,” says investor and economic commentator Peter Schiff. They aren’t alone: I’m seeing a lot of stuff like this in my inbox lately.
Now, some of this is coming from “Weimarists”, people who are always predicting hyperinflation. Mr Schiff, for example, insisted back in 2009 that the Obama administration’s policies would cause runaway inflation. (For the record, they didn’t.)
