US could lead the transition to a digital currency reserve [MSN Money]
Meta Platforms, Inc. - Class A (FB)
Last meta platforms, inc. - class a earnings: 4/29 04:05 pm
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Source: MSN Money
After spending decades as the dominant global reserve currency, the dollar’s position is being challenged. The greenback’s share of global central-bank reserves has declined in nine of the past 10 quarters, the International Monetary Fund reported in September. The slide is hardly new: It began a decade ago when European leaders attempted to replace the dollar with a euro-based “basket” of currencies as the common global reserve. But the United States should not fight against the forces of globalization that challenge the dollar’s reserve-currency status. Instead, it must seize the opportunity to incubate technologies that will enable future digital currencies, which could go on to power a transnational currency — perhaps the best next option for a future global reserve. Committing to this course would provide a check on attempts to supplant the dollar’s role in the global financial system with other sovereign currencies. It would also put the United States at the heart of a
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