A global battle over cash will decide who rules the world economy
The US dollar isn’t just for Americans — every country in the world relies on it.
The greenback has been facilitating the flow of money and goods around the world for over a century. Buying or selling oil? Usually done with dollars. Countries issuing government debt? Usually the price of those bonds is in US dollars. For generations, the greenback has been the safe haven for investors when markets crash and systems go haywire. The US even reminded everyone just how influential the buck is when it effectively froze Russia out of the global financial system with sanctions last year.