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by spiralx 1945 days ago
For one the USD is only the largest reserve currency used internationally: GBP, EUR and JPY are also used as reserve currencies. For another the US has been trying to reduce the role of the dollar as a reserve currency because it actually has significant downsides and fewer benefits than is popularly portrayed - this even has it's own term, "exorbitant privilege". Here's Ben Bernanke talking about it:

https://www.brookings.edu/blog/ben-bernanke/2016/01/07/the-d...

TL;DR: the USD's reserve currency status is very much exaggerated.

1 comments

Thank you, that was interesting reading. Not sure why you were downvoted.
No problem, this is another article on the subject I'd bookmarked:

https://www.ussc.edu.au/analysis/the-reserve-currency-myth-t...