Zell: Dollar's Global Fall Will Be 'Disastrous’ for US Living Standard Read more: Zell: Dollar's Global Fall Will Be 'Disastrous’ for US Living Standard

Billionaire real-estate magnate Sam Zell warns that Americans should brace for a "disastrous" 25 percent decline in the standard of living if the U.S. dollar’s reign as the global reserve currency ever ends. He says that there are signs in the market that it could eventually happen. As it is now, a Korean manufacturer who wants to sell to Brazil must first buy dollars to complete the deal. If countries decide to bypass the dollar, the effect would be a disaster, Zell says. Read more: Zell: Dollar's Global Fall Will Be 'Disastrous’ for US Living Standard