from The Daily Bell:
Is the Dollar Dying? Why US Currency Is in Danger … The U.S dollar is shrinking as a percentage of the world’s currency supply, raising concerns that the greenback is about to see its long run as the world’s premier denomination come to an end. When compared to its peers, the dollar has drifted to a 15-year low, according to the International Monetary Fund, indicating that more countries are willing to use other currencies to do business. While the American currency still reigns supreme – it constitutes $3.72 trillion, or 62 percent, of the $6 trillion in allocated foreign exchange holdings by the world’s central banks – the Japanese yen, Swiss franc and what the IMF classifies as “other currencies” such as the Chinese yuan are gaining. – CNBC
Dominant Social Theme: The dollar is in danger … a surprise to us all!
Free-Market Analysis: Read this article, (which was published several months ago but allows us to make a timely point), and you are perhaps reminded of Bill Murray’s “Groundhog Day,” where everything is always new again even though a single day repeats itself in a closed loop.
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