Referred to the dollar as world revenue currency

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Reference no: EM132228014

Using outside sources answer the following:

You will often hear people referred to the dollar as the "World‘s Revenue Currency". That isn’t quite true- there are five reserve currency‘s, but the dollar is dominant by far, being used for more world exchange that any of the other four reserve currencies together there are a number of reasons for this, but you can take it as a given for now. The dollar has been dominant since the Bretton Woods System, established in 1944. Being the dominant currency has given us a lot of benefits, but it is eventually self-defeating. There is a huge amount of world trade, and it takes a huge number of dollars to facilitate it. I have seen estimates that there are as many as $100 outside the country for every one dollar inside (no one really knows for sure).

Question: How do you think all those dollars get out into the world in order to be used for trade? I don’t necessarily expect you to come up with the right answer to this (and won’t grade on that basis), tell me what you think it might be, and then discuss the issues. Remember that I said, having the world‘s dominant currency used for international trade is self-defeating (and even self-destructive). Think about this- could you answer as to the source of these dollars eventually do that in any way? Be creative.

Reference no: EM132228014

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