Can The U.S. Dominate Global Financial System Forever?
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During a recent dinner conversation, some one within our dinner group asked, “What do you think will be the global reserve currency next year?”.
Reserve Currency, based on an excerpt from wikipedia, in italics, below:
A reserve currency (or anchor currency) is a foreign currency that is held in significant quantities by central banks or other monetary authorities as part of their foreign exchange reserves. The reserve currency can be used in international transactions, international investments and all aspects of the global economy. It is often considered a hard currency or safe-haven currency. By the end of the 20th century, the United States dollar was considered the world’s dominant reserve currency.[1] The world’s need for dollars has allowed the United States government as well as Americans to borrow at lower costs, giving the United States an advantage in excess of $100 billion per year.[2]
Keep in mind that the global reserve currency used to be British pounds before the United States dollar took the honor, so the status of global reserve currency is not fixed permanently.
Another discussion helped to shed some light on this topic (with Sandra Navidi, CEO of Beyond Global; Edward Luce, Chief Commentator of Financial Times; and Douglas A. Rediker, Founding partner of International Capital Strategies, LLC , : For someone who claimed he wanted to “freeze” the governmental budget of the United States and “get rid of” US debt, President Donald Trump shows no signs of reigning in his spending habits, in the video “Can the US dominate the global financial system forever? Bottom Line“, below:
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