World Holds Breath, Waits for “Death of the Dollar”
by Wolf Richter
Wolf Street
Dismantling the dollar hegemony one yuan at a time.
I’ve been asked many times about the impending “death of the dollar.” I know some folks who expect the dang thing to die. They’re already envisioning the spectacle. An entire industry has sprung up to prepare and equip people for the moment when the dollar dies. It’s like insurance, the theme goes: hopefully you’ll never need it.
But the dollar is a human creation, a fiat currency. It doesn’t have a life of its own. It’s managed, rigged, and manipulated. It’s an accounting entity, a (lousy) store of value, and a means of handling transactions so you don’t have to barter your first-born for a Lexus.
Continue Reading at WolfStreet.com…
Source: http://financialsurvivalnetwork.com/2015/09/world-holds-breath-waits-for-death-of-the-dollar/?utm_source=rss&utm_medium=rss&utm_campaign=world-holds-breath-waits-for-death-of-the-dollar
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