this post was submitted on 20 Jun 2023
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United States | News & Politics

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‘A natural way to diversify': Janet Yellen now says Americans should expect a decline in the USD as the world's reserve currency — what’s really going on and how can you prepare? (ca.finance.yahoo.com)
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[–] HobbitFoot@thelemmy.club 0 points 2 years ago (1 children)

That's not too surprising. The share of US GDP compared to the rest of the world has been dropping since 1960. You also have two other currencies that could reasonably act as reserve currencies which couldn't 20 years ago.

[–] yogthos@lemmy.ml -2 points 2 years ago

It's also worth noting that a reserve currency is not a necessity to begin with. Countries can just hold commodities and use national currencies to trade with each other as we're increasingly seeing happen.