Search Coins

NFT Collection The Superlative Secret Society Price, Stats, and Review

cryptodaily.co.ukin a year
-2

Pump.fun Selloff: $160M Moved to Exchanges as PUMP Crashes Below ICO Price

www.livebitcoinnews.com18 minutes ago
0

Traditional companies enter the crypto treasury game with BTC, XRP and SOL buys

cointelegraph.com18 minutes ago
0

Ripple CEO Brad Garlinghouse Raises Alarm Over Rising XRP Scams

coingape.com21 minutes ago
0

White House crypto report drops July 30: Here’s what’s at stake

crypto.news34 minutes ago
0

Quid Miner launches mobile crypto mining app for Bitcoin, DOGE, and altcoin investors

crypto.news41 minutes ago
0

TRON’s Record-Breaking Performance in H1 2025 Highlighted in Cointelegraph and CryptoQuant Research Reports

news.bitcoin.coman hour ago
0

BlockDAG’s 50M Buyer Battles Push Presale to $350M as Stellar Slips 7%, & Dogecoin Builds Momentum

coindoo.coman hour ago
0

Ripple Won’t Dump Its XRP Escrow Holdings: Lawyer Reveals Why It’s Actually Good For Price

bitcoinist.coman hour ago
0

$10 billion real estate push: MultiBank.io taps Fireblocks for tokenization

crypto.newsan hour ago
0

ADA Holds Critical $0.75 Support After Open Interest Drops 9.48% – Rally or Crash Ahead?

www.coinspeaker.coman hour ago
0

Treasury Secretary Scott Bessent Calls for ‘Internal Review’ of Federal Reserve As Pressure on Jerome Powell Mounts

dailyhodl.coman hour ago
0

XRP Plunges, Dragging Altcoins Down as BNB Rises to New Peak

news.bitcoin.coman hour ago
0

Trump-backed WLFI and Vaulta forge Web3 banking alliance in US

crypto.newsan hour ago
0

Cango finalizes pivot to a Bitcoin mining company

crypto.newsan hour ago
0

Ethereum Based Meme Coin PEPETO Surpasses $5.5M in Presale

www.livebitcoinnews.com2 hours ago
0

Ether ETFs Extend Dominance With $534 Million Inflow as Bitcoin ETFs Slip Further

news.bitcoin.com2 hours ago
0

Big Money Enters BNB, Pushing Crypto To $801 ATH—Details

www.newsbtc.com2 hours ago
0

Block joins S&P 500, bringing more Bitcoin exposure to equity index

$260 billion later, stablecoins have become too big to ignore

crypto.news2 hours ago
0

Tron Overtakes Ethereum As Monthly Average Fees Surge To New Levels

bitcoinist.com2 hours ago
0

Crypto MEV Bot (Cryptomevbot.com) Launches Crypto Trading Bot for Individual and Enterprise Traders

dailyhodl.com2 hours ago
0

Stablecoin Law Could Trigger Massive Inflows Into U.S. Treasuries, Says Treasury Official

coindoo.com2 hours ago
0

Breaking: White House To Release Crypto Policy Report On July 30

coingape.com2 hours ago
0

When Will ETH Reach a New ATH? Discover 5 Best Crypto Coins To Buy Now During Market Rally

coindoo.com2 hours ago
0

Hillary Clinton Warns of ‘Worldwide Financial Meltdown’ and Dollar Losing Reserve Currency Status if US Defaults on Its Debt

Apr 26, 2023 2:00 AM +00:00
0

Former U.S. Secretary of State Hillary Clinton has warned that the U.S. defaulting on its debt obligations could lead to a global financial meltdown. “If Congress keeps flirting with default, calls for dethroning the dollar as the world’s reserve currency will grow much louder,” she stressed.


Hillary Clinton on U.S. Debt Default and Dollar Losing World’s Reserve Currency Status

Hillary Clinton, a former first lady and the U.S. Secretary of State from 2009 to 2013, warned in an opinion piece, published by the New York Times Monday, about the disastrous outcomes that could result from the U.S. defaulting on its debt obligations, including the risk of the dollar losing its status as the world’s reserve currency.


“The debt ceiling debate is not about authorizing new spending. It’s about Congress paying debts it has already incurred. Refusing to pay would be like skipping out on your mortgage, except with global consequences,” Clinton described, warning:


Because of the central role of the United States — and the dollar — in the international economy, defaulting on our debts could spark a worldwide financial meltdown.


Noting that “the competition between democracies and autocracies has grown more intense,” the former first lady cautioned: “By undermining America’s credibility and the pre-eminence of the dollar, the fight over the debt ceiling plays right into the hands of Xi Jinping of China and Vladimir Putin of Russia.”


Clinton opined: “Playing games with the debt ceiling imperils the dollar’s pre-eminent position in the global economy and the power that gives the United States.”



The former secretary of state detailed that the USD is central to international transactions conducted by people, companies, and governments worldwide. They invest in U.S. Treasury bonds and rely on U.S. banks “because they trust that America pays its debts, upholds the rule of law and guarantees stability,” she asserted, adding that it has allowed the U.S. to impose sanctions, such as those against Iran and Russia.


“It’s no surprise that Mr. Xi and Mr. Putin are eager to disrupt the dollar’s dominance and defang American sanctions,” Clinton said, concluding:


If Congress keeps flirting with default, calls for dethroning the dollar as the world’s reserve currency will grow much louder — and not just in Beijing and Moscow. Countries all over the world will start hedging their bets.


A growing number of countries are already ramping up efforts to shift away from using U.S. dollars in trade settlements, including ASEAN countries. Meanwhile, the BRICS nations (Brazil, Russia, India, China, and South Africa) are reportedly creating a new currency that will reduce their reliance on the USD.


Do you agree with Hillary Clinton about the consequences of the U.S. defaulting on its debt? Do you think it will lead to the USD losing its global reserve currency status? Let us know in the comments section below.

Share This Article


Get the most out of CoinFi News!

Save coins into your Watchlist and be the first to know about the latest market moving news.