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Tag Archives: reserve currency
De-Dollarization Accelerates: Central Banks Dump Dollar In Q4, Buy Yuan
De-Dollarization Accelerates: Central Banks Dump Dollar In Q4, Buy Yuan The dollar’s share of global central-bank reserves slumped to the lowest level since 2013 while holdings of the Chinese yuan rose for the fifth quarter in the past six, IMF data showed Friday. The U.S. currency accounted for 61.7% of global allocated foreign-exchange reserves in […]
US Dollar Status as Global Reserve Currency?
US Dollar Status as Global Reserve Currency? So, how hot is the Chinese Renminbi? And is the euro dead yet? The US dollar’s role as global reserve currency is defined by the amounts of US dollar-denominated assets – US Treasury securities, corporate bonds, etc. – that central banks other than the Fed are holding in […]
Russia And China Prepare To Ditch Dollar In Bilateral Trade
Russia And China Prepare To Ditch Dollar In Bilateral Trade In a time when many nations have gone public with their intention to ditch the dollar in part or in whole, in bilateral trade with non-US counterparts, either to prevent the US from having “veto power” of commerce courtesy of SWIFT or simply in response […]
China & Japan Dump Treasuries As Dollar’s Reserve Status Slumps To 5 Year Lows
China & Japan Dump Treasuries As Dollar’s Reserve Status Slumps To 5 Year Lows Treasury International Capital flows showed Brazil the biggest buyer of Treasurys in August (followed by Ireland and France), but it was China and ‘ally’ Japan that dumped the most Treasurys in the month… Brazil is Steve Mnuchin’s best friend… As China […]
The Distortions of Doom Part 2: The Fatal Flaws of Reserve Currencies
The Distortions of Doom Part 2: The Fatal Flaws of Reserve Currencies The way forward is to replace the entire system of reserve currencies with a transparent free-for-all of all kinds of currencies. Over the years, I’ve endeavored to illuminate the arcane dynamics of global currencies by discussing Triffin’s Paradox, which explains the conflicting dual […]
Europe Unveils “Special Purpose Vehicle” To Bypass SWIFT, Jeopardizing Dollar’s Reserve Status
Europe Unveils “Special Purpose Vehicle” To Bypass SWIFT, Jeopardizing Dollar’s Reserve Status In a stunning vote of “no confidence” in the US monopoly over global payment infrastructure, one month ago Germany’s foreign minister Heiko Maas called for the creation of a new payments system independent of the US that would allow Brussels to be independent […]
Gold Yuan Crypto
Gold Yuan Crypto George Caleb Bingham The verdict of the people 1854It’s been a while since we last heard from Dr. D, but here he’s back explaining why neither gold nor the yuan nor cryptocurrencies can or will replace the dollar as the reserve currency, but together they just might: Dr. D: “Some debts are […]
The Economic History Of The World In One Minute
The Economic History Of The World In One Minute “…and America’s pre-eminence is over” ✔ The economic history of the world in one minute 6:53 PM – Jul 7, 2018 As we noted previously, history did not end with the Cold War and, as Mark Twain put it, whilst history doesn’t repeat it often rhymes. As […]
Central Banker Observes Sudden “Evaporation” Of Dollar Funding, Warns Of Global Turmoil
Central Banker Observes Sudden “Evaporation” Of Dollar Funding, Warns Of Global Turmoil Last October, just as the Fed started shrinking its balance sheet, we published yet another article on what is arguably the biggest threat to not only risk assets, but also the global economy: “The Dollar Funding Shortage: It Never Went Away And It’s […]
The Coming Monetary Reform – Behind the Curtain Talk
The Coming Monetary Reform – Behind the Curtain Talk QUESTION: Okay Marty, You keep saying “the world monetary system will have to be reformed.” Spill! What do you hear behind the curtain? Cheers, EM ANSWER: I just returned from Europe where I had meetings with some high levels of interest. The great concern in Europe is […]
What Could Dethrone the Dollar as Top Reserve Currency?
What Could Dethrone the Dollar as Top Reserve Currency? Central banks seem leery about the Chinese yuan. What will finally pull the rug out from under the dollar’s hegemony? The euro? The Chinese yuan? Cryptocurrencies? The Greek drachma? Whatever it will be, and however fervently the death-of-the-dollar folks might wish for it, it’s not happening […]
Why the Dollar is the Mainstay of the World Economy
Why the Dollar is the Mainstay of the World Economy QUESTION: A friend told me the one pound coins I have from a trip to Britain last year were canceled. How can a government simply cancel its money? KL ANSWER: Oh yes. Britain canceled the one pound coins last October. They estimated that £400-450 million […]
The World’s New Reserve Currency? Everything You Need To Know About PetroYuan
The World’s New Reserve Currency? Everything You Need To Know About PetroYuan Earlier this week, we pointed out that the ‘PetroYuan’ is on the verge of becoming reality with Graticule’s Adam Levinson noting that the birth of a yuan-denominated oil contract will be a “huge story” in the fourth quarter, and will be a “wake […]
