The Dollars Future
The U.S. Dollar’s Days as the World’s Reserve Currency are Numbered
March 22, 2005
Peter Schiff is C.E.O. and Chief Global Strategist at Euro Pacific Capital, Inc.
In the 20th Century, the U.S. dollar became the world’s reserve currency because it was the coin of the world’s leading economy. In the “Bizzaro” 21st Century economy, this causality has reversed. Today, the primary reason the U.S. remains the world’s leading economy is because the dollar still serves as the reserve currency. However, if market fundamentals can ever manage to re-assert themselves, this is a reality that can, and indeed must, change.
Scary stuff.
