The Dollar’s Dominance, Explained
May 12, 2024
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0:57Now PlayingThe Dollar’s Dominance, Explained
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as posted by the channelThe US dollar is the closest thing there is to a global currency. It’s the payment method of choice for more international transactions than any other currency. It’s the primary reserve currency for countries around the world, whether friendly and hostile. Dozens of countries around the world peg the value of their local tender to it.
The dollar’s dominance tracks with the ascent of the US as a global superpower following World War II. Since then, investors have relied on dollars — and assets denominated in them, such as US Treasuries — to be among the best places to stash wealth, in both good times and in bad ones. The appeal is the country’s unmatched might and stability. Not only does the US possess the world’s most powerful military and largest economy, but it’s also governed by laws rather than the whims of rulers, assuring a degree of political steadiness.
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