“Will the Dollar still be the World’s Reserve Currency in 5 Years?” By Mike Whitney

Dandelion Salad

By Mike Whitney
Information Clearing House
October 29, 2009

Capitalism Kills

Image by Dandelion Salad via Flickr

Interview with Menzie Chinn

1-Mike Whitney: What is the present composition of reserve holdings in central banks–and has there been a substantial falloff in US dollar reserves in recent years? (Are central banks ditching the dollar?)

Prof. Menzie Chinn: I’ve found it puzzling that there’s all this talk about the prospects for the dollar, in the wake of the G-20 meetings, and more recently World Bank President Zoellick’s comments about the primacy of the dollar as a reserve currency. My puzzlement arises from the fact that many of the concerns now being voiced have been voiced before.

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