95 - The Death of the US Dollar?
The Red Line
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The Importance of Current and Capital Accounts
What happens with monetary policy matters hugely and that tends to be a disincentive for anyone to be holding. The problem with China in particular is of course you've seen very stages when they're exercising the type of sub-bonditory policy which can affect either value or capital controls. So do these announcements that countries will be doing business in currencies like rupees or yuan actually make much of a difference if it's a commodity that volume is measured in USD? Or if there's a relatively small amount of currency actually crossing the border, the trading between themselves may not change all that much.
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