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To: SeekAndFind

Premise hinges on whether dollar and US economy is not a heavily manipulated political value...


4 posted on 04/21/2023 7:19:10 AM PDT by Bayard
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To: Bayard

Well, looking at history, there is no absolute certainty.

In the past, the countries with the leading global currencies were: Portugal (1450–1530), Spain (1530–1640), Netherlands (1640–1720), France (1720–1815), and Great Britain (1815–1920). So there is a precedent for major reserve currencies to come and go.

And as premises go, there is one major error when people use the word — RESERVE CURRENCY: the USD is not “the reserve currency.” It is “the major reserve currency.” Any currency can be held as a reserve currency.

There are no economic law about this and it’s up to each country to decide what they want to hold, of course. Nobody declared that the USD has to be the major global reserve currency, it’s just the result of individual decisions by each country.

As far as we know, the dollar only accounts for 63.5% of reserves, EUR is 20.4%, and then there are the rest. Take a look at the International Monetary Fund’s breakdown of reserves by currency at :

https://data.imf.org/?sk=E6A5F467-C14B-4AA8-9F6D-5A09EC4E62A4


7 posted on 04/21/2023 7:23:23 AM PDT by SeekAndFind
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