Since the US dollar is used as the world’s reserve currency, does this provide the United States greater financial security?
Absolutely not…. Being the world reserve currency does not entitle us to any special treatment. I have heard some experts use the analogy that we (the US) own the casino and the house always wins. The same rules of finance and economics apply to all countries in the same manner. If a country continues to deficit spend and borrow money, the country is still obligated to payback the monies owed. I think having the world reserve currency status is a symbol of stability and strength. However, the Federal Reserve’s QE1, QE2, and QE3 (i.e., printing money) is jeopardizes this status and could be the nail in the coffin to our economic system. What are your thoughts?
I hold a B.S. in Economics from Florida State University and a MBA from Nova Southeastern University. I have over 30 years experience in investing in stocks, commodities, and most recently cryptocurriences. I spent a brief stint on Wall Street where I learned some valuable lessons. My strong faith in God, my love of country, and strong desire to help others, has lead me to create and promote MonieStorm. I believe the articles, videos, and personal commentary provide useful information for the upcoming times we are about to face.