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For better or worse, dollar is the only reserve currency. Every other central bank holds dollars on both sides of their balance sheet.

As a result, any attempt to switch away from the dollar would be… cataclysmic.




You couldn’t switch overnight but it’s hard to imagine that if, say, the EU, Canada, etc. started shifting to euros that it wouldn’t have a significant effect over time. They have massive economy anchoring their currency and right now there seem to be a lot of countries who would be receptive to reducing their exposure to economic uncertainty here. The USD has been popular due to stability, but if we voluntarily give that up there isn’t some kind of magic moat.




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