Warren Buffett finally opened his mouth about the issue of dedollarization that is increasingly being talked about around the world.
The billionaire and leading investment icon calmly says that the US dollar is not at risk of losing its status as the world's reserve currency.
According to him, the US dollar is the reserve currency and he does not see any other choice of currency to be used as the reserve currency.
This indirectly shows that Buffet is not worried about the risk of dedollarization or other countries that are less dependent on the US dollar.
Instead, the Berkshire Hathaway Chairman warned about aggressive spending by the United States government not to erode the value of the dollar by spending too much and fueling inflation.
According to Buffett, people need to be confident that their savings will maintain a large portion of their purchasing power over time.
Otherwise, they will avoid saving money in the bank or accumulating a retirement fund.
Meanwhile, Buffett's business partner, Charlie Munger, said that the US should not take risks by spending too much.
"It is madness for the government to keep printing money", he said.
