Episode 305: How Did We Get Here?
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The US Dollar Is Not a Reserve Currency by Law
The US dollar is a reserve currency, but it's not a reserve currency by law. When my father was a kid, the British pound was the Reserve Currency. The minute something better comes along, the US dollar is out. It's the case until you start inflating it like we're doing. We have another couple of years of eight, nine percent inflation. And if that sounds strange to you, think about the British pound. That was the global currency. They inflated it away. Now nobody talks about the British Pound that much.
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