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Previous Liberty Street Economics analysis and New York Fed research addressed the potential implications for the United States if the dollar's global role changed, noting that the currency might not retain its dominance forever. This post checks the status of the dollar, considering whether any erosion in the dollar's international standing has occurred. The evidence to date is that the dollar remains the world's dominant currency by broad margins. Alternatives have not gained extensive traction, albeit this does not rule out potential future pressures.
[...] Major developments pertinent for the current international financial architecture include the introduction of the euro in 2000, China's rising status in the global economy, and post financial crisis changes in the U.S. policy and financial environment. Various additional policy and operational developments have had and will have the potential to alter the desirability of using U.S. dollars.
[...] After its introduction in 2000, the euro saw its status as an international currency deepen, peak around 2003, and decline in the aftermath of the global financial and euro-area crises amid slower growth in the euro area and uneven progress toward reaching a fuller financial and economic union.
[...] The international use of China's currency has risen with the importance of China in global output, official investments to improve China's institutions and governance, and deliberate promotional steps by the Chinese government.
[...] Potentially working against the international use of dollars are: a decline in correspondent banking, where banks seek out other banks to provide services on their behalf (occurring as banks de-risk); higher fiscal imbalances in the United States, to the extent that concerns rise about fiscal deficits and debt burden sustainability; and policy actions that could weaken international trade and financial ties.
[...] Cryptocurrencies, set up to challenge the conventional structure of payments in official currencies
(Score: 0, Offtopic) by MichaelDavidCrawford on Wednesday February 13 2019, @10:05AM
Higbee & Associates is a particularly notorious copyright troll that demanded $1,700 from my friend's left-wing activism group for - yes, it's _that_ ignorant - displaying on the activist's website a DEEP LINKED photo that is actually hosted at nytimes.com.
My friend contacted a public interest attorney who'd save his very life a few years back, when my friend drew the ire of a right-wing radio host for discouraging potential advertisers by lambasting said right-wing blowhard from my friend's website. Said attorney got right one it then, with surgical precision, as well as confirmting with the Times that they really _did_ have a license to publish said photo at nytimes.com:
"Your Mother Wears Army Boots".
At which point, said Higbee Esq. shat nickles.
Get This:
I just now found Higbee & Associates direct, toll free and fax numbers on a scan of a threatening letter Higbee sent to my left is friend:
Take care not to smear the platen when you fax them your asshole, M'Kay?
I'd post their street address, but one of you might mail them a letter-bomb. I wouldn't want that to happen, but if it did, may I recommend the product of Ortho Snail & Slug Death, Hydrogen Peroxide or Hair Bleach, as well as any flavor of Kool-Ade Mix _other_ than Lemon?
Lemon, in my actual experience, is a truly disappointingly sorry excuse for a Sports Drink. But I will say: to slam down Lemon Kool-Ade _was_ Quite Fucking Funny!
Enjoy.
Yes I Have No Bananas. [gofundme.com]