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If the position of the US dollar as the world's main reserve currency is so secure, why did John Kerry feel the need to talk up the financial importance of the
by ZenoArrow 11y ago
If the position of the US dollar as the world's main reserve currency is so secure, why did John Kerry feel the need to talk up the financial importance of the recent deal with Iran (who had started to sell their oil in Euros before the deal)?
https://m.youtube.com/watch?v=PCAFnCo6nyM https://m.youtube.com/watch?v=PCAFnCo6nyM
- PhantomGremlin 11y agoHistorically, as the second term of a US Presidency winds down, the actors scurry around trying to create a "legacy". The current administration wanted a deal. Any deal at all. That's all the recent agreement with Iran is.
- ZenoArrow 11y agoSee my reply to forgetsusername.
- forgetsusername 11y ago>why did John Kerry feel the need to talk up the financial importance of the recent deal with Iran Because politics? Again, what is the alternative to the dollar? It's completely reasonable that the global community diversifies away from the USD. But any specific basket they come up with is going to be heavily titled towards the strongest currency of the biggest economy on the planet. Otherwise, it's useless.
- ZenoArrow 11y ago> "Because politics?" There's a bit more to it than just that, protecting the dollar is also part of it. If you want to understand where I'm coming from better, would recommend watching the History of Oil (it's entertaining as well as informative): http://youtu.be/GIpm_8v80hw http://youtu.be/GIpm_8v80hw