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Dodging the Dollar

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“Central banks [are] chipping away at the dollar’s ‘exorbitant privilege’,” said Alan Ruskin, chief international strategist at Deutsche Bank in New York.

Why central banks are edging away from the dollar | Financial Times:

Now, economists are not the only people who are concerned about the dollar’s dominance and the consequent extension of American soft power. There are many other groups who think that it is time end the fiat dollar and it’s hegemonic power. Some people, such as Rand Paul and ISIS, think that it might be time to return to a new form of gold standard.

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The problem for ISIS was that all that trade was executed in U.S. dollars. So in spite of the group’s declared war on U.S. hegemony, its economy was actually facilitating U.S. dollar dominance.

Sharia Goldbugs: How ISIS Created a Currency for World Domination - CoinDesk:

 

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"So why the clamor for its return? Nostalgia, said economist Charles Wyplosz. ‘People long for a simpler age,’ when the U.S. ‘was the dominant economy and there were no financial markets to speak of.’"

From "Why Did the U.S. Abandon the Gold Standard? | Mental Floss".

 

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