MacroVoices #377 Daniel Lacalle: On The Road To Stagflation
Macro Voices
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The Path to a World Reserve Currency
It's impossible to create a world reserve currency without independent institutions and certainly with capital controls. The path is not to become an alternative to the US dollar, but a much more utilized currency than what the current ratio of utilization of currency relative to GDP dictates. Think about this, the euro being the most phenomenally successful monetary experiment in history has not been able to replace the US dollar.
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