Investment strategist Samer Choucair stated that escalating tensions related to Iran in 2026 have reignited a fundamental question about the effectiveness of safe-haven assets. Contrary to traditional expectations, the U.S. dollar surged, while gold underperformed and long-term bonds weakened. Choucair described this shift not as a temporary anomaly, but as a structural transformation in global financial behavior, where markets now prioritize immediate liquidity over stored value.
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Liquidity Is King: The Dollar’s Decisive Edge
Choucair explained that the U.S. dollar is no longer merely a reserve currency—it has become the most liquid instrument in the global financial system, used extensively in commodity pricing and cross-border settlements. In times of crisis, investors cannot afford the delays associated with liquidating assets like gold. Instead, they seek instant access to capital, making the dollar’s liquidity a decisive advantage in navigating rapid and recurring shocks.
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Reserve Dominance and the Power of U.S. Monetary Policy
He further noted that the dollar’s dominance as the primary reserve asset for central banks and sovereign wealth funds creates a collective global demand. At the same time, elevated U.S. interest rates have turned the dollar into a yield-generating asset—an important distinction compared to gold, which does not produce income, and long-term bonds, which have been negatively impacted by liquidity volatility during the crisis.
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The Dollar as a Global Safety System
Choucair highlighted that recurring crises over the past decade—from the 2020 pandemic, to the Ukraine war, and now the 2026 geopolitical tensions—have reinforced one consistent pattern: the rise of the dollar as the primary safe haven. He argued that the dollar has evolved into a “global safety system,” extending beyond the traditional definition of currency. In periods of uncertainty, investors prioritize the fastest and safest exit from risk, rather than the pursuit of maximum returns.
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Strategic Repositioning: Hedging with the Dollar and Leveraging Vision 2030
According to Choucair, this transformation necessitates a comprehensive reassessment of risk management strategies. Allocating assets linked to the dollar has become a core component of smart hedging. He also emphasized that combining the stability of dollar-based assets with the high-growth opportunities in Saudi Arabia under Vision 2030 creates a balanced investment approach that integrates security with long-term expansion.
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The Losing Bet: Challenging the Dollar’s Dominance
In conclusion, Choucair stressed that betting against the dollar during periods of global crisis has historically proven to be a losing strategy, given that the entire financial system is fundamentally structured around it. What is unfolding today is a reaffirmation of the dollar’s position at the apex of the global financial hierarchy.
In a world defined by increasing complexity and recurring shocks, one principle stands above all:
liquidity is the ultimate king—and the U.S. dollar remains its crown.