Dollar On It’s Deathbed

In the past couple of years, the following countries have stopped using the dollar as their reserve currency or have dropped their currency’s peg against the dollar:

China

Japan

Kuwait

Syria

Iran

Libya

Russia

Malaysia

Brazil

Argentina

Ecuador

Switzerland

Norway and some other Scandinavian countries

Some Balkan countries

Many East European currencies

The following countries are rumored to be considering dropping the dollar as their reserve currency or terminating their currency’s peg against the dollar:

The Arab Gulf States

Saudi Arabia

South Korea

Venezuela

Sudan

As Assistant Secretary of the Treasury, and the “Father of Reagonomics”, recently said: “The dollar’s reserve currency role is drawing to an end”.

One thought on “Dollar On It’s Deathbed

  1. It is about time. The dollar has been accepted for too long as legal tender in most countries. Accepting another countries currency as legal tender creates an artifical demand of wants and creates misallocation of resources.

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