Mike Kudzel

Like Ishwar in his taxi experiments and like businesses that don't have to exchange their dollars for other currencies all the time in order to buy and sell things. Because all that costs time and money.

Like Ishwar in his taxi experiments and like businesses that don't have to exchange their dollars for other currencies all the time in order to buy and sell things. Because all that costs time and money.

The fact that the U.S. dollar is at the center of the global financial system means the U.S. has this unmatched power to sanction other countries. We can stop dollars from flowing to foreign banks. We can freeze or seize their dollar assets. And we do.

The fact that the U.S. dollar is at the center of the global financial system means the U.S. has this unmatched power to sanction other countries. We can stop dollars from flowing to foreign banks. We can freeze or seize their dollar assets. And we do.

The fact that the U.S. dollar is at the center of the global financial system means the U.S. has this unmatched power to sanction other countries. We can stop dollars from flowing to foreign banks. We can freeze or seize their dollar assets. And we do.

They're focused on the costs of having the dollar as a reserve currency. One effect of your currency being the reserve currency is your currency is stronger than it would be otherwise. In the Trump administration, they're like, a strong dollar is great for U.S. consumers. Imports are cheaper. Travel abroad is cheaper. But it is not great for exporters, for manufacturing in this country.

They're focused on the costs of having the dollar as a reserve currency. One effect of your currency being the reserve currency is your currency is stronger than it would be otherwise. In the Trump administration, they're like, a strong dollar is great for U.S. consumers. Imports are cheaper. Travel abroad is cheaper. But it is not great for exporters, for manufacturing in this country.

They're focused on the costs of having the dollar as a reserve currency. One effect of your currency being the reserve currency is your currency is stronger than it would be otherwise. In the Trump administration, they're like, a strong dollar is great for U.S. consumers. Imports are cheaper. Travel abroad is cheaper. But it is not great for exporters, for manufacturing in this country.

And this is really clear during recessions, when there's that flight to safety and the dollar strengthens. If you're a business selling stuff to the world and you're struggling because there's a recession, you're actually double struggling because your products are getting more and more expensive abroad. So we asked Barry, how bad is this?

And this is really clear during recessions, when there's that flight to safety and the dollar strengthens. If you're a business selling stuff to the world and you're struggling because there's a recession, you're actually double struggling because your products are getting more and more expensive abroad. So we asked Barry, how bad is this?

And this is really clear during recessions, when there's that flight to safety and the dollar strengthens. If you're a business selling stuff to the world and you're struggling because there's a recession, you're actually double struggling because your products are getting more and more expensive abroad. So we asked Barry, how bad is this?

Like if you subtract the downside from the upside, what does that leave us with? Like a lot of privilege left over or none?

Like if you subtract the downside from the upside, what does that leave us with? Like a lot of privilege left over or none?

Like if you subtract the downside from the upside, what does that leave us with? Like a lot of privilege left over or none?

So most economists agree we are better off overall. But better off or not, the dollar's status is very gradually, glacially, Barry says, eroding. Central banks have been buying other currencies to at least rely on the dollar less. When the dollar made up 73% of the world's central bank reserves, that was the peak. That was more than 20 years ago.

So most economists agree we are better off overall. But better off or not, the dollar's status is very gradually, glacially, Barry says, eroding. Central banks have been buying other currencies to at least rely on the dollar less. When the dollar made up 73% of the world's central bank reserves, that was the peak. That was more than 20 years ago.

So most economists agree we are better off overall. But better off or not, the dollar's status is very gradually, glacially, Barry says, eroding. Central banks have been buying other currencies to at least rely on the dollar less. When the dollar made up 73% of the world's central bank reserves, that was the peak. That was more than 20 years ago.

And since then, the dollar's share has been slowly drifting lower and lower. It is now down to 58%.

And since then, the dollar's share has been slowly drifting lower and lower. It is now down to 58%.

And since then, the dollar's share has been slowly drifting lower and lower. It is now down to 58%.