Robert McCauley on the Global Domain of the Dollar and Threats to Its Dominance
Macro Musings with David Beckworth
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Dollar Obligations in the Foreign Exchange Market
13 trillion is a sort of cash holdings cash meaning the sense of a claim for money payable in the future, a bank account, or a bond. In addition to that there's lots of dollar obligations in the foreign exchange market. And part of it comes from the fact that lots of trade, the founders of Federal Reserve are very successful so lots of trade not only US trade trade between other countries is dollar to dominate.
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