Good-bye, Global Reserve Status…
by Adam English
Last week, we took a look at what will happen to the U.S. dollar if and when the U.S. government defaults on its debts.
With the cataclysmic global effects this would cause, we barely even touched on one aspect that will happen, regardless of what occurs with a debt ceiling compromise…
The U.S. dollar is going to lose its reserve currency status, a position it has enjoyed for nearly a century. The only questions that remain are what will take its place and when.
We’re now seeing the beginning of a currency power grab that the United States cannot hope to trump.