by Bill O’Grady
Last week, we introduced the characteristics of a reserve currency, including a discussion of the costs and benefits of providing the reserve currency. This week, we will conclude the report with a short explanation of the S.W.I.F.T. network and its importance to international finance. From there, we will discuss the potential competitors to the dollar as the reserve currency, examining the possibility of competing trade blocs. As always, we will conclude with potential market ramifications.
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