Rickards: The Dollar's Not Dying

Rickards: The Dollar's Not Dying Authored by James Rickards via The Daily Reckoning, Last week's financial media was full of apocalyptic headlines: "$40 trillion in national debt!" "U.S. debt in a doom loop!" "The end of the dollar is near!" Gold and bitcoin soared in lockstep with the dollar doom and gloom. If you took the headlines at face value, one would assume the dollar was already toast and U.S. Treasuries were worth no more than digital confetti. The truth is that the dollar's position as the leading reserve currency is not in jeopardy. Of course, foreign exchange reserves are not simply piles of currency. They are largely held in liquid financial assets, including U.S. Treasury securities denominated in...

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