So according to Beauvais: “The dollar is over as the world’s reserve currency.” Among other things, the analyst argued that it is certain that the Chinese economy will exceed the size of the American one and for this, among other things, the American companies that transfer their production to other countries are responsible.
According to him, this trend has given other countries more control over international production, the global economy and global financial flows. On the topic of cryptocurrencies, Bovet believes that digital currencies like bitcoin can fill the void that the dollar’s declining influence in the global economy will and already leaves.
Just because Bovet was unconventional in his career (he has worked for 17 financial institutions and brokerage firms), in the west of his career he argued that analysts no longer tell things like they are because “they are like monks who pray to money” and thus do not they want to speak out once morest the dominant financial system they live off of.
Characteristic of the depth of his analysis is that when in the distant 2005 everyone believed that the real estate market in the USA was not facing any problem, Bovet had described it as a “dustbin” and just two years later… it was confirmed in the worst possible way.
His prediction regarding the dollar, which has also made the biggest splash, comes as alternative analyzes of the issue, which talk regarding the “de-dollarization” of the global economy, are increasingly being sidelined. of public dialogue.
According to the IMF, currently around 60% of global reserves are in dollars, but the trend is for this to decline, particularly following the US response to the war in Ukraine and sanctions once morest Russia.
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