Who do you believe?

By | July 5, 2021

New York University professor Nouriel Roubini

Investors worldwide are borrowing dollars to buy assets including equities and commodities, fueling “huge” bubbles that may spark another financial crisis, said New York University professor Nouriel Roubini. “We have the mother of all carry trades,” Roubini said via satellite to a conference in Cape Town, South Africa. “Everybody’s playing the same game and this game is becoming dangerous.”

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US Treasury Secretary Timothy Geithner

said Tuesday the dollar would keep its status as the world’s main reserve currency a "long time." Geithner, speaking to an investors conference in New York a day after the dollar hit a 14-month low against the euro, said: "The dollar will remain the principal reserve currency for a long time." The dollar has nosedived in recent months as investors turn away from the greenback, considered a safe haven amid economic uncertainty, amid a burgeoning recovery from a severe global slump.

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