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Unlike Yuan, US$ is https://en.wikipedia.org/wiki/Petrocurrency https://en.wikipedia.org/wiki/Petrocurrency
by known 8y ago
Unlike Yuan, US$ is https://en.wikipedia.org/wiki/Petrocurrency https://en.wikipedia.org/wiki/Petrocurrency
- seanmcdirmid 8y agoThe dollar is the petrocurrency because it is fully convertible and because the US government will always trade it for treasuries (no matter how much), not the other way around. It is extremely safe and liquid, so everyone (even China) uses it for trade.