• 5 minutes Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 11 minutes Saudi Fund Wants to Take Tesla Private?
  • 17 minutes Starvation, horror in Venezuela
  • 5 hours WTI @ 67.50, charts show $62.50 next
  • 3 hours Newspaper Editorials Across U.S. Rebuke Trump For Attacks On Press
  • 4 hours Mike Shellman's musings on "Cartoon of the Week"
  • 9 hours Venezuela set to raise gasoline prices to international levels.
  • 14 hours WTI @ 69.33 headed for $70s - $80s end of August
  • 28 mins Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 3 hours Batteries Could Be a Small Dotcom-Style Bubble
  • 16 hours Renewable Energy Could "Effectively Be Free" by 2030
  • 8 hours Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 15 hours Corporations Are Buying More Renewables Than Ever
  • 4 hours Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 20 hours Again Google: Brazil May Probe Google Over Its Cell Phone System
  • 5 hours France Will Close All Coal Fired Power Stations By 2021
Alt Text

Yieldcos Are Back And Better Than Ever

Yieldcos have had a rocky…

Alt Text

Clean Energy Stocks Outperform Oil And Gas

Green energy stocks saw tremendous…

David Beckworth

David Beckworth

David writes the Blog: Macro Market Musings

More Info

Trending Discussions

Is the Dollar’s Reserve Currency Status Being Threatened?

Randall W. Forsyth points to two recent developments as part of a broader change in the global monetary system:

The new world monetary order continued to evolve with two separate developments Tuesday.  Japan said it would join China in buying debt securities to support beleaguered European sovereign creditors. In so doing, the world's No. 2 and No. 3 economies were acting to try to hold together the euro as a viable alternative to the world's reserve currency, the dollar, from the No. 1 economy, the U.S.  At the same time, China permitted trading of the renminbi in the U.S. for the first time -- a significant step in the RMB becoming a full-fledged international, convertible currency...[These two developments] are both part of the loosening of the global monetary system away from its dollar-centric mooring.

Maybe so, but there there are many hurdles for alternative currencies to clear before there arises any meaningful threat to the dollar's reserve status.  Just look at the dominance of the dollar in the global forex market over the past three years.  Even when this change in the globlal monetary system does come about, Barry Eichengreen believes the dollar will still be a dominant currency in the global economy. For better or for worse, then, the Federal Reserve will continue to be a monetary superpower for some time.

By David Beckworth

Source: Macro Market Musings




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News