The Dollar's Place in the World

Fewer transactions that I understand today are being transacted in dollars than before. You've written about the fact that you don't think there's another currency that will overtake it, but that perhaps will become more of a plurality. And so what would be the consequences? I always say that the big problem is not that something else might take the dollar's place. The problem is that there may be nothing else that could take thedollar's place.

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