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The Dollar as World Currency?

By Bill Barclay

"The dollar is our currency but it's your problem," - John Connally, Nixon's Sec of Treasury, 1971.

Connally was talking to European finance ministers about the place of the dollar as the world currency. In the five decades since, the dollar has remained the leading currency held as reserves by central banks, the invoicing currency for most global trade and the accepted unit of account for measuring value. How did this come to happen? Will the dollar continue to hold this position? What about challenges such as the RMB and the Euro?

The complete power point is available here.


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