Central Banks, Foreign Reserves & the Role of the U.S. Dollar
There has been a great deal of commentary about the seemingly inevitable decline of the US dollar, and its replacement as the international reserve currency. This may be inevitable, in the sense that all through history, no single currency has remained as the central currency for the world, so why would the US be the exception – in a state of permanence? Things change. But don’t expect this to change too quickly. The US dollar isn’t going anywhere for the near to medium term future: this episode explains why by examining the history of the US dollar as an international reserve currency, the role of central banks and financial markets, and what this means for geopolitics and global economic order.
Listen to the podcast show here (Subscribers only):