From CNBC. The average person does not focus on this issue but if the dollar loses its preeminence as a world reserve currency, it will require extensive belt-tightening by Washington in order to pay off the massive debt the US has accumulated.
The U.S dollar is shrinking as a percentage of the world's currency supply,
raising concerns that the greenback is about to see its long run as the world's
premier denomination come to an end.
"The No. 1 security issue we have as a nation is the preservation of the U.S.
dollar as the world's reserve currency," said Michael Pento, president of Pento
Portfolio Strategies. "It's a thousand times more important than a nuclear bomb
being tested by North Korea. It's a thousand times more important that we keep
the dollar as the world's reserve currency, and yet we are doing everything to
abuse that status."
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