Fucking I am sick of reading superficial takes about how the dollar under Orange Man is doomed... but there's nothing else around, so whatwegonnadobitch:
Madam Tooth, formerly known as Katie Martin (#980092), is out swinging in the FT. And she, like the previous features here, has her talking points:
The policy choices of the Trump administration have emphatically put the dominance of the dollar’s global reserve status in doubt. The big question is whether anything else is ready to take up the slack.
The reason for dollar weakness and U.S. getting credit rating downgraded?
"a political inability to tame fiscal incontinence."
you call what the Treasury and U.S. fiscal train been up to for thirty years... incontinence?!
It's time for the euro to take over, says Ms Tooth:
Investors tell me they are ready. People in the plumbing of Europe’s bond markets tell me they are ready. European officials say they are at least aware of the opportunity. But making it actually happen is difficult.
More trade invoicing, more government bonds(!), maybe throw in some teeth:
German government bonds, the backbone of the European debt system, are not yet anywhere close to plentiful enough to fill the void that is opening up. The bonds of France and Italy lack Germany’s perceived safety as a borrower. ... Building an easily tradeable bond market denominated in euros that pools risk across a range of different member states sounds great.
"The potential prize on offer is large." Toothfairy
Maybe some dentists can consult on the project.
non-paywalled: https://archive.md/xVdNm