the potential global reserves crisis facing the US dollar, prompting questions about alternative currencies. While many alternatives have been proposed, none match the dollar's liquidity due to the lack of deep short-term debt markets and the ability to sell short-term bonds without impacting prices or yields. This scenario, though unlikely under normal circumstances, could occur if the world were to suddenly divest from these tools, which would require a massive economic disaster for countries to take such drastic action. The current daily trading volume of short-term US dollar instruments is within safe limits for both the United States and countries holding significant dollar reserves.
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