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Could Gold Ever Become a Reserve Currency?

October 3, 2018

Reserve currencies are the foundation of international business. Many Americans are blissfully unaware of the fact that their currency—the U.S. dollar—has been the world’s reserve currency for the better half of the past century. This economic dominance provides Americans with a number of economic and political advantages, both at home and abroad. Benefits of holding a reserve currency To understand the benefits of owning the world’s primary reserve currency, it’s important to understand the role that reserve currencies play. Because the U.S. dollar is the world’s predominant reserve currency, all commodities are priced using U.S. dollars. If Canada wants to... View Article

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