The international community is actively seeking an alternative to the U.S Dollar hegemony. As the world's reserve currency,it commands 65% of the $6.8 trillion worth of reserves.
A mix of a strong Chinese Yuan and a Super Sovereign Currency that has a portion of gold seems the most inviting solution.
The IMF is on the ascendancy as a global central bank,wrestling the mantle from the supremacy enjoyed by the Federal Reserve of the United States.
'The US dollar (USD) is the world’s 'reserve currency'. This status is arguably the greatest privilege enjoyed by the US as an economic entity. Most people don’t appreciate its significance. As the world’s reserve currency,the USD is used by other countries across the globe to back up their own respective paper currencies. In some cases,it’s as basic as a country stockpiling US dollars in their central bank vaults. When asked what supports their Pesos,Rubles,or Yen,the powers that be simply point to their pile of US dollars as proof of value. Upon reflection,it’s quite obvious how tenuous it is to back up one’s currency with a pile of paper issued by another country,but this is exactly how the world of international currency has worked for decades. And it has worked quite well…until now.'
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