The dollar will lose its status as a world reserve currency, experts of one of the largest investment banks JP Morgan Chase say, and this will happen quite soon. Why are the world’s leading financial institutions ready to sign a verdict on the dollar?
World Central Banks drive the American currency out of reserves, and the US credit policy is capable of finally burying it.
Dollar Loses Power
Nearly 62 percent of the world’s foreign exchange reserves are held in dollars, more than double the total foreign assets denominated in euros, yen and renminbi, according to a recent report from the International Monetary Fund.
However, as Jim Glassman, chief economist of one of the leading American banks JP Morgan Chase, points out, the accumulation of dollars abroad is now the result of a trade imbalance and an instrument of protection against erratic market conditions, but in no way a consequence of confidence…