How King Donald Is Dethroning the U.S. Dollar

The dollar is the world’s currency, not just America’s. It is the unit in which most cross-border transactions worldwide are quoted and settled. A remarkable 89 percent of global foreign exchange transactions are in dollars. Nearly 60 percent of the foreign currency reserves of central banks from Beijing to Zurich are held in dollar-denominated bank deposits and Treasury securities. The dollar is the lingua franca, if you will, of international financial markets. Read Full Article »