Robert McCauley on the Global Domain of the Dollar and Threats to Its Dominance
Macro Musings with David Beckworth
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The Global Domain of the Dollar
How many dollars does the rest of the world own that are outside the United States? The answer is close to $13 trillion in each case. Only a smallish fraction of that 13 trillion is actually bank loans made out of the United States, or US investors PIMCO. So where do they come from those dollars essentially are coming by private contracting between two non US residents frequently using British wall.
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