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The Dollar Will Lose Regardless of Who Wins the Election

Released on Wednesday, October 28, 2020ECONOMY

As the election approaches, many are busy forecasting the potential winners and losers if the Democrats take the White House, the Senate, or both. But from an investment perspective, the outcome really doesn't matter that much, as the ultimate loser may be the US dollar itself.

To an extent that is largely overlooked, the decade between 2010 and 2020 saw a stunning rise in the value of the US dollar, which served as the hidden mainspring for global investment performance. But the world is finally waking up to dollar's extreme vulnerability to runaway US debt, totaling more than $4 trillion in 2020 alone. Unlike the situation 10 years ago, no one seriously expects the monetary and fiscal policies of the US to ever meaningfully tighten again. This means the dollar's position at the top of the monetary hierarchy is threatened. If it falls, as even many in the mainstream expect it will, global investment returns will change fundamentally. Peter Schiff can help you map out a course in the new world ahead.

Peter Schiff
Euro Pacific Capital, Inc., Chief Economist and Global Strategist

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