Is this some sort of a public service article from Bloomberg? Just say No to the negative thoughts about dollar. On a serious note, I recently read that there

Is this some sort of a public service article from Bloomberg? Just say No to the negative thoughts about dollar. On a serious note, I recently read that there a big difference between the Reserve currency and the Payment currency. Interestingly, the Reserve currency is not US dollar, but US Treasuries instead. I guess it makes sense, as China, for example won’t be able to keep trillion USD Reserves in a bank account, it would have to invested in some highly liquid market, like US Treasuries. This can only change slowly, and the dollar reserve status will continue for quite a while. Replacement of Sterling for USD took some 30 years, for example, 1914-1944. On the other hand, the status of USD as a Payment currency is changing quickly. I am not sure what the implications are.