Thought Capital: End of an Era? The Future of the U.S. Dollar
Since the end of World War II, the U.S. dollar has stood as the linchpin of global finance. Its dominance stems from the perceived safety of American assets, the unmatched liquidity of U.S. Treasury markets—currently a $27 trillion behemoth—and the credibility of the Federal Reserve in maintaining low inflation and price stability. This foundation has supported the dollar’s role as the world’s reserve currency, facilitating trade in oil, commodities, derivatives, and more.
As Leah Bennett notes, “The system isn’t just monetary—it’s psychological. It relies on trust, and for decades, that trust has been earned.”