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The US dollar became a powerful currency after the Bretton Woods meeting in 1944. The British pound had been the reserve currency of the world for nearly 100 years. Nearly 60% of the world's foreign exchange reserves are even today in dollars. To paraphrase Brad McMillan, everyone is talking about de-dollarization but no one wants to do it.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode