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De-dollarization will be a vicious cycle as hyperinflation leads to higher rates that will further erode the greenback’s power, think tank says The use of the US dollar as a reserve currency is under threat — and the greenback is headed for a vicious cycle that will further erode its dominance, according to the Australian …
via businessinsider: The US should expect the dollar’s share of global reserves to slowly decline, but no alternatives exist that could completely displace the greenback, Treasury Secretary Janet Yellen said on Tuesday. Her comments came during a Housing Financial Services Committee in response questions about the risk of de-dollarization. Asked by Rep. Warren Davidson, R-Ohio, …