3 days ago
‘There is no alternative': US dollar in decline as influence in question
Economist and author James Rickards discusses whether the US dollar is losing its global influence following its decline in recent months, asserting the US Treasury remains secure as the leading global reserve.
'The dollar has gone down in value, but it was from a pretty high level,' Mr Rickards told Sky News host Ed Boyd.
'There is no alternative, the other biggest bond markets in the world are Japanese government bonds and Italian government bonds – so if you don't like US Treasury, do you like JGBs better? … the answer is no.
'Even in a world where the dollar is going down in terms of exchange rates, the US Treasury, the Treasury Securities Market is not threatened as the leading global reserve asset.'
