Nixon Shock, the reserve currency curse, and a pending dollar crisis
“Since no one really wants it, having the reserve currency is best viewed as a ‘curse’ not an ‘exorbitant privilege’.”
USAGOLD note: Mish walks readers through the perils and perhaps inescapable gravity of being the world’s reserve currency. “A currency crisis awaits,” he says, “I suggest holding at least some gold.”
Repost from 10-1-2019
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