Our Reserve currency hurts during inflationary periods, it effects everyone, making the dollar harder to buy.
the article is vague. how are they doing this exactly?
And started buying Bitcoin
Oh no, anyway
That only works in good times to do currency swaps. That was why after WW2 and Germany was broke. So was Britain. Prior to Bretton Woods conference in 1944 the British pound was the world’s reserve currency. Then the dollar was added. It is very cumbersome for a country and all their businesses to keep track of currency swaps and prices for the swaps are higher. When you have an exchange it is more efficient. For all the talk of creating another reserve currency it has not occurred. Egypt may find themselves with unstable currency as a result. El Salvador tried crypto, that backfired. The Chinese yuan has been discussed.
I’ll take them.
Hmmmm, sounds like Egypt may get a reduced allowance from the USA
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Our Reserve currency hurts during inflationary periods, it effects everyone, making the dollar harder to buy.
the article is vague. how are they doing this exactly?
And started buying Bitcoin
Oh no, anyway
That only works in good times to do currency swaps. That was why after WW2 and Germany was broke. So was Britain. Prior to Bretton Woods conference in 1944 the British pound was the world’s reserve currency. Then the dollar was added. It is very cumbersome for a country and all their businesses to keep track of currency swaps and prices for the swaps are higher. When you have an exchange it is more efficient. For all the talk of creating another reserve currency it has not occurred. Egypt may find themselves with unstable currency as a result. El Salvador tried crypto, that backfired. The Chinese yuan has been discussed.
I’ll take them.
Hmmmm, sounds like Egypt may get a reduced allowance from the USA