Former presidential candidate Hillary Clinton has urged nation-states to “start paying greater attention to the rise of cryptocurrency.” She warned that crypto could undermine the role of the dollar as the world’s reserve currency and could destabilize nations.
Hillary Clinton Warns Cryptocurrency Poses Risk to US Dollar and Nations’ Stability
Former Democratic presidential candidate Hillary Clinton talked about cryptocurrency Friday during a panel discussion at the Bloomberg New Economy Forum in Singapore.
While addressing a range of new challenges, including disinformation and artificial intelligence (AI), Clinton said, “One more area that I hope nation-states start paying greater attention to is the rise of cryptocurrency.”
The former Secretary of State added:
What looks like a very interesting and somewhat exotic effort to literally mine new coins in order to trade with them has the potential for undermining currencies, for undermining the role of the dollar as the reserve currency, for destabilizing nations, perhaps starting with small ones but going much larger.
Clinton is not the only one seeing that the rise in popularity of cryptocurrency could hurt the U.S. dollar. Former President Donald Trump has said on several occasions that he does not like cryptocurrency because it competes against the U.S. dollar. “I don’t want to have other currencies coming out and hurting or demeaning the dollar in any way,” he stressed.
In July last year, global investment bank Goldman Sachs warned that the “Real concerns around the longevity of the U.S. dollar as a reserve currency have started to emerge.”
Legendary fund manager Stanley Druckenmiller said in May: “I’m worried now for the first time that within 15 years we lose reserve currency status and of course all the unbelievable benefits that have accrued with it.”
Read More ——-
- Taylor Swift and Travis Kelce pose for loved-up pics, kiss on romantic boat ride in ItalyTaylor Swift and Travis Kelce were photographed on a romantic boat ride… Read more: Taylor Swift and Travis Kelce pose for loved-up pics, kiss on romantic boat ride in Italy
- Sean ‘Diddy’ Combs seen in shocking video punching and kicking girlfriend Cassie in hotel hallwaySurveillance footage captured at a hotel in Los Angeles in March 2016 shows the music mogul chasing Ms. Ventura down the hallway in a towel before attacking her near the elevators. He then attempts to drag her back down the corridor.
- Lyrical Joe Biography, Songs, Albums, All Music, and VideosThe hip hop culture is gradually becoming popular among every Ghanaian experiencing… Read more: Lyrical Joe Biography, Songs, Albums, All Music, and Videos
- Prince Harry And Meghan Markle Arrive in Nigeria (Trip’s Details)Prince Harry and Meghan Markle have arrived in Nigeria for their 72-hour… Read more: Prince Harry And Meghan Markle Arrive in Nigeria (Trip’s Details)
- ‘Was It The Right Choice?’: The American Dream, Now A Nightmare For ManyContents A Wide Knowledge Gap Immigrants Remain Undervalued “I Feel Stuck” I… Read more: ‘Was It The Right Choice?’: The American Dream, Now A Nightmare For Many
However, some people believe that crypto will not replace the dollar as the world’s reserve currency. Mohamed El-Erian, chief economic advisor at financial services company Allianz, said this week that crypto “will always exist in the ecosystem but it’s not going to be a global currency … It’s not going to replace the dollar.”