Is the U.S. Dollar Hegemony Ending?
The U.S. has been the currency of foreign exchange ever since the Bretton Woods agreement of 1944. It did experience a crisis of confidence in the 1970s, but the Nixon / Kissinger deal with Saudi Arabia to create the PetroDollar whereby all oil sales had to be completed in U.S. Dollars (in exchange for military support) recemented the dollar’s prominence for another half-century. But now things are changing. In today’s article, Patrick Barron looks at the current state of Dollar hegemony.
Is the U.S. Dollar Hegemony Ending? Read More »
