Commentary The U.S. dollar could someday go the way of all paper-currencies past and be consumed in a hyperinflationary fire. It seems unlikely but it is possible. In some ways, given the reckless policies of the past three years, we should be perhaps surprised that it hasn’t happened yet. If the dollar loses its status…
What Will You Use as Money If the Dollar Dies?
June 30, 2023
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What If the Dollar Falls?
Commentary During the past few weeks, major countries have been moving away from the U.S. dollar, raising doubts about the dollar’s long dominant role in the world. Eight weeks ago, it was just pariah nations like Iran or Russia trying to de-dollarize. Now it’s Brazil, France, even Saudi Arabia—the lynchpin of the decades-long “petrodollar” arrangement….
China Is No Threat to the US Dollar, but US Government Policy May Hurt
Commentary Former President Donald Trump has expressed concern that China could displace the U.S. dollar as the global reserve currency. The warning follows reports of agreements between various nations to use the yuan in commodity transactions. For years, rumors have circulated about the demise of the U.S. dollar as a global reserve currency, but the…
China’s ‘De-dollarization’ Efforts Are Part of a Strategy to Corner World Energy Markets
April 4, 2023
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A longstanding plan by China and Russia to replace the U.S. dollar as the world’s reserve currency has had a string of recent headline-grabbing successes, as China methodically builds a rival monetary system that has been dubbed “Bretton Woods III.” This currency initiative is the financial component of China’s strategy to gain influence over global…
China’s ‘De-Dollarization’ Efforts Are Part of Strategy to Corner World Energy Markets
April 4, 2023
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News Analysis A longstanding plan by China and Russia to replace the U.S. dollar as the world’s reserve currency has had a string of recent headline-grabbing successes, as China methodically builds a rival monetary system that has been dubbed “Bretton Woods III.” This currency initiative is the financial component of the Beijing regime’s strategy to…
China Seeks to Dethrone Dollar to Corner World Energy Markets
April 4, 2023
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News Analysis A longstanding plan by China and Russia to replace the U.S. dollar as the world’s reserve currency has had a string of recent headline-grabbing successes, as China methodically builds a rival monetary system that has been dubbed “Bretton Woods III.” This currency initiative is the financial component of the Beijing regime’s strategy to…
The US Dollar Will Stay the World’s Reserve Currency
Commentary There has been a lot of worry about the burgeoning partnership between Russia and China. Russia’s economy is very small, and it cannot afford to fight the continuing war in Ukraine. It needs China to help, and China is more than willing to buy energy products from Russia. The trading is being executed in…
How A Country Loses Its Currency Reserve Status
Commentary The U.S. dollar enjoys its world reserve currency status due to numerous factors: legal and investor security, an open and transparent market, as well as independent institutions with checks and balances that limit political power and strengthen the country’s currency in relative terms. No, a country doesn’t have a world reserve currency due to…
Reserve Currency Status Benefits US Institutions But Not Regular Folk: Labor Economist
The U.S. dollar being the world’s reserve currency has only benefited American institutions and not regular workers, according to labor economist, founder, and president of the Economic Strategy Institute Clyde Prestowitz. Prestovitz has served as an adviser to Presidents Ronald Reagan, George H.W. Bush, Bill Clinton, and Barack Obama, and as a counselor to the secretary of…
China and Russia—With Help From Biden—Attack the Dollar
August 12, 2022
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Originally published by Gatestone Institute Commentary “The issue of creating an international reserve currency based on a basket of currencies of our countries is being worked out,” said Vladimir Putin in June, at a meeting of the BRICS—Brazil, Russia, India, China, South Africa—grouping. Russia and China have launched another attempt to develop a “new global reserve currency.”…
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