The Demand for Dollars Is the Global Reserve Currency

When you're a big country like the united states, for example, youcan do whatever you want. Why? Because the dollar is the currency of the world. So there's a huge non american demand for yours. The u k. Is not like that. There is no demand for sterling. Nobody wants it, art from uk. People who are trading with the uk. Well, we're only going to buy their guilts. If we think we're getting a bargain in uK, gilts, visib everywhere else if their currency is very weak, so their guilts are cheap. On the other hand, they have to raise interest rates, because you have