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GM57: Navigating the Next Decade ft. Kiril Sokoloff

Top Traders Unplugged

NOTE

Evolution of Currency and Reserve Status

Currency serves as a unit of account and medium of exchange. The shift in the medium of exchange is significant, with countries like China paying for oil in their currency. The importance of reserve currency status is diminishing, evidenced by countries trading in their own currency and having swap lines with others. The necessity of maintaining large foreign exchange reserves is reducing, as seen by the decline in financing to the U.S. government by foreign settled banks since 2014. The traditional significance of reserve currency is evolving, with reduced importance compared to the past.

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