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|Subject: We're going to have a dollar collapse like the 1980s, strategist says Thu Feb 09, 2017 7:48 pm|| |
|History could be set to repeat itself as excessive growth has left the U.S. dollar poised for a collapse in as little as a year, the co-founder of London-based advisory group Official Monetary and Financial Institutions Forum (OMFIF) has told CNBC.|
David Marsh, a financial specialist that advises asset management firms, is predicting a dollar crash akin to that seen in the 1980s, as the world's reserve currency continues to rally off the back of the new U.S. administration following continued gains seen over recent years.
The dollar has been going up by approximately 10 percent per year in real terms over the last three to four years, Marsh explained, adding that it was "doing exactly the opposite of what (President Donald) Trump says he wants."
"I foresee it will carry on getting stronger for a year or so and then we will have a dollar collapse, just like we did in the early 1980s," he claimed.
"All the things that Mr. Trump says he wants to do – protect American workers in the heartland – are not going to be helped by this."
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