Red Sea Attack: 4% of America’s GDP Goes in Controlling the Sea
The US dollar remains on a slippery slope as the conflict in the Red Sea is yet to be resolved. A US-owned container ship was struck by a missile attack off the coast of Yemen on Sunday. The anti-ship ballistic missile was launched from Houthi-controlled areas of Yemen, reported the US Central Command. The impact of the attacks has disturbed the free movement of commercial ships passing through the Red Sea . Also Read: BRICS: Investors Bet Indian Rupee Will Rise, US Dollar To Decline It Costs 4% of America’s GDP to Control the Sea Every Year Source: Watcher Guru Mike Novogratz, the CEO of Galaxy Digital said that the US dollar has commanded the world’s reserve currency status for decades because America controls the sea. He explained that those who control the sea hold the power to become the world’s reserve currency, and that is bestowed upon the US dollar. Also Read: BRICS: JP Morgan Predicts Future of the US Dollar Against Chinese Yuan Novogra...