A Currency Upheaval Is Coming
Excerpt: Sometimes forces line up in just the right way to mark the end of an era. That era is dollar supremacy. Colin Lloyd has marshalled some impressive evidence that the dollar’s status as the global reserve currency may not last. Indeed, its status is weakening. Should it come to lose its monopoly status, the place of the U.S. on the world stage will undergo a substantial change. The ability to call the shots, as it has done in the entire postwar period, will be weakened. Monetary policy will no longer be able to presume infinite markets abroad for dollar creation. The market for U.S. currency could come into question. All the implications here are impossible to foresee. (This, coupled with the prior post about Facebook’s possible Libra currency seem to fit together well. Worth reading. Ron P.)
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