Lots of talk of death of the dollar over the last few weeks, as TotalEnergies purchased a cargo of LNG in yuan from China, China making deals to trade in Yuan, and Russia exploring other currencies to trade oil in due to sanctions. I believe these calls are VERY premature.
Thank you Tracy, this has become a tiresome narrative which seems to be an attempt to drive clicks, rather than discuss the possibilities. Ultimately, the depth and breadth of liquidity and transactability of the dollar are why it has its current position of supremacy and you are correct, there is no other currency that comes close to achieving these requirements.
Nice work Tracy, have a great week!
Great points and it does seem no imminent risk of change. But with key buyers purchasing less USD and Fed allegedly rolling off balances are there enough buyers for all the USTs that need to be peddled by the US?
you confuse 'strong' with 'expensive' when you put the pentagon on top of the 'strong' military list.
Without a doubt, US dollar will be King for a long time still. However, more and more trade will happen in other currencies...that horse has already left the stall. How that will progress is anyones guess.
Well reasoned analysis. Thanks!