An anonymous reader shared the following report from The New York Times.
During his 54 years as a financial analyst, Richard X. Bove has perfected the art of turning heads. american banker He once called him “the most quoted banking analyst in the country.” Hours after finishing a Bloomberg TV appearance last week, the 83-year-old announced his retirement. He took that weekend off, but returned to work immediately. In an interview with the New York Times, Mr. Bove, also known as Dick (pronounced “bo-bey”), offered a dire outlook for the U.S. economy and his predecessor. Profession.
“The dollar is over as the world's reserve currency,” Bove said matter-of-factly, sitting in an armchair outside his home office just north of Tampa, predicting that China would overtake the U.S. economy from there. No other analyst would say the same. Because they are, in his words, “monks who pray to money” and are unwilling to speak out about the mainstream financial system that employs them…
As he spoke, a technician was trying to restore internet at his home after his last employer, boutique brokerage firm Odeon Capital, went out of business for the last day…
He sees the offshoring of U.S. manufacturing as the ultimate threat to the financial sector and the dollar. This is because “those who manufacture products in other countries have increasingly greater control over the means of production, and therefore increasingly control of the world economy, and therefore greater control of the world economy.” “Money management will become even stronger. ”
The article notes that Bove was once called “the loneliest analyst.”
“One of the things that makes this still true is that he supports cryptocurrencies, an area that few other financial analysts would touch on, but which is a natural beneficiary of the dollar's decline. He thinks it is.”
