MacroVoices #343 Jeff Snider: Why the Dollar Remains King
Macro Voices
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The Uro Dollar System - What Is It?
The value of the U.S. dollar hinges on a global market for borrowing and lending dollars, which is known as the uro dollar system. It's not actually a system of physical currency or any money; there's no gold here. The only uro dollar innovation so far has been the introduction of us treasures to be held in reserves. This story goes all the way back to the 19 fifties but gets more interesting when we look at what happened after that.
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