The United States Dollar is still the highest ranked currency in the world. This is comforting, but also questionable. However, there are facts to back it up. In 2007 the dollar was involved in 86% of the worlds exchange transactions. The euro, the dollar’s biggest rival, doesn’t even compete with this. China, Russia – the two countries that dump on the dollar the most – as well as most of the world, use the dollar in economic transactions between other countries. It will take a little while to switch out of this system now that it's been engrained for so long. America can know for sure that the dollar is still the most recognized, respected, and used currency around the world. At least for a little while longer.
Some superstitious people predict that in 2 – 5 years the dollar won’t be revered as it is now. If America continues with its trend of deficits and Obama and the rest of the American people can’t build up the economy, the dollar reign has a good chance of ending.
Last century the pound was in the position of the dollar. Next century it’s almost more likely than not that the dollar will not be in power. The question this really boils down to is how long can a regime last while still being effective and powerful? Everything has to end eventually.
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