It’s one thing to talk about diversifying away from the dollar as the standard currency for international trade, it’s another thing to actually do it.
Also, the Fed taking back those dollars is one way to drain excess liquidity.
“It’s one thing to talk about diversifying away from the dollar as the standard currency for international trade, it’s another thing to actually do it.”
It’s being done incrementally, for instance the Iranian oil bourse.
“Also, the Fed taking back those dollars is one way to drain excess liquidity.”
How will the Fed take back dollars in foreign hands, exactly?
At any rate, I have a whole new appreciation for the old Chinese curse: “May you live in interesting times.”