It’s perhaps the most important question in all of finance, so much so that Vladimir Putin and Elon Musk have both asked it in just the past few days: what is the fate of the US dollar, and will it remain the world’s reserve currency?
To be sure, the US Dollar is – and has been for the past century – the most important means of exchange, involved in 88% of all global transactions. That’s according to the latest Bank for International Settlements survey But how long can this hegemony last?
As the IMF cautioned recently, 2020 was the first year in over two decades that foreign central bank dollar allotment dipped below 60%, a figure which has inched lower since: Meanwhile, foreign holdings of US Treasury bonds have steadily declined since 2012, a testament to the declining faith of the rest of the world in the reserve currency.
Still, the greenback remains the most ubiquitous currency and reserve asset of choice around the globe. To determine whether dollar-dominance will persist indefinitely, or a historic transition looms ZeroHedge has assembled a panel of top macroeconomic experts for our next debate: The Fate of the U.S. Dollar.
The two-on-two debate features the following financial luminaries:
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Jim Rickards: the NYT-best selling author who predicted the 2008 Great Recession and successfully brokered the $3.6 billion takeover of Long-Term Capital Management.
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Michael Every: regular ZeroHedge readers are intimately familiar with the research of Rabobank’s head of Global Strategy. Michael brilliantly weaves geopolitical and economic trends into actionable market insights, which have made his daily note a must read for every finance professional.
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Bob Murphy: senior fellow at the Mises Institute, Bob is among the upper echelon of Austrian Economists with his work quoted by Argentinian President Javier Millei.
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Brent Johnson: famous for the “Dollar Milkshake Theory,” Brent runs Santiago Capital where he manages over $175 million in assets.
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Adam Taggart: from Peak Prosperity to Wealthion to his new channel Thoughtful Money, Adam is a veteran of the contrarian financial space and will be moderating this epic debate.
The live, in-person debate will take place on Tuesday, February 13 at 7pm ET, and will air concurrently on this website and on X.
We also have an extremely limited number of seats set aside for readers who wish to watch the debate in person and engage the participants over dinner (if interested please email Debates@zerohedge.com for details and price).
As usual, we will also dedicate a portion of the debate to responding directly to questions submitted by our premium subscribers.
Tyler Durden
Sun, 02/11/2024 – 16:55
