Discussion about this post

User's avatar
HenriO's avatar

Thank you for this. It certainly educated me. I’m also curious about the digital currency question that Gbill7 poses.

Expand full comment
Gbill7's avatar

Excellent and reassuring data - I had no idea that the amount of yuan held as reserve currency had *declined* in 2022! That’s certainly not the impression given by the main stream media. Thank you for this.

As flawed as the US government may be, I think the world’s peoples trust in US stability far more than they trust anything said or done by China’s government. As case in point, there was an article in the press a few months ago about Argentina, which was experiencing a 100% inflation rate at the time. The article said that everyone in Argentina used the US dollar as their actual currency, even taking suitcases full of American hundred-dollar bills to real estate transaction.

But a nagging question is: do you see any possible way that a switch to CBDCs could somehow upend the entire reserve currency norm, to our detriment?

Expand full comment
4 more comments...

No posts