Wolf Review (King Dollar. The Past and Future of The World’s Dominant Currency by Paul Blustein)
(Contents) Paul Blustein, the author, starts the book with the overview of the dollar politics of recent years. The weaponising of the dollars to punish adversaries. Barring Russia and Iran out of the Society for Worldwide Interbank Financial Transactions or SWIFT in short, has undoubtedly undermined the status of the reserve currency of the world. Many countries, including those traditional allies affected by the tariff, have woken up to the idea that the dollar supremacy with its exorbitant privilege will one day affect them due to the unsustainable debt obligations of the US. There was a brief history of the status of the dollar as the dominant currency of the world. It started just after World War 2 when Britain was almost bankrupt due to debt owed to the Americans. On came the United States and the US dollars slowly replacing the British pound in the late 40s as the preferred currency of world trade. The faith of the dollar was sealed when then the U.S president, Frank...