Why does Alasdair think dollar hegemony is now nearing its end?
Jay Taylor Media, Released on Released on 4/12/23
The United States claimed the world's reserve currency after President Nixon detached gold from the dollar and arranged to have OPEC require all international oil sales be priced in dollars. But, as economist Robert Triffin understood, in order to have the world's reserve currency it required the U.S. to destroy its domestic economy by running huge trade deficits. In the longer term that process leads to a declining economy which ultimately leads to the destruction of the currency. Why does Alasdair consider that the dollar hegemony is now nearing its end?
Alasdair Macleod is head of research for GoldMoney. Alasdair has been a celebrated stockbroker and Member of the London Stock Exchange for over four decades. His experience encompasses equity and bond markets, fund management, corporate finance and investment strategy. Read Macleod's writing: https://www.goldmoney.com/research.
Why does Alasdair think dollar hegemony is now nearing its end? added by Herman James on 04/11/2023View all posts by Herman James ?+'