Adam Lerrick, professor of economics at Carnegie Mellon University, has led Argentina's $100 billion debt restructuring. He's an expert on the matter.
He, says it's only a matter of time before the world shifts away from the U.S. dollar.
"The world is trying to find an alternative to the dollar. The only alternative right now would be the euro, and as we've seen, the Europeans have their own fiscal crisis," he tells The Daily Ticker's Henry Blodget in the accompanying clip. "The day that stops, then we have a full-blown crisis, because we will literally not be able to pay our bills."
So the fate of the US dollar is in the hands now of Europe. As soon as Europe manages it's way out of the fiscal crisis, the dollar will be hit. There's no doubt that Europe is aiming to get out of the fiscal crisis. Question is how long it will take Europe to achieve it's goal. Anyway, in my opinion, the dollar is doomed. It's only a matter of time.
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