by John Carney
Breitbart.com
The World Is Not Dedollarizing
The dollar is always on the verge of collapse—until it isn’t.
Every few months, we get a fresh wave of dedollarization chatter, usually prompted by U.S. fiscal brinkmanship, Chinese trade overtures, or academic fantasies about a new world currency regime. But as with most financial forecasts, reality arrives with less drama than expected. This week brought a reminder: for all its faults, the dollar remains the asset the world runs to when things fall apart.
The catalyst this time was an Israeli airstrike deep inside Iran. In response, the dollar index jumped 0.52 percent Friday, snapping a two-day losing streak. It gained 0.46 percent against the yen, and 0.23 percent against the Swiss franc. Even the euro, which had posted four straight daily gains, dropped 0.35 percent to $1.1543.