Emeritus Prof Christopher May@adamtooze raises an interesting issue in his latest Chartbook blog:
In previous financial crises when market participants wanted liquidity to deal with a crash, they wanted it in dollars... but if there a finincial crisis coming & people/firms don't trust the value of the dollar anymore, what currency (or currencies) might they seek to establish liquidity in?
In other words in a financial crisis caused by the US Govt. might the dollar no longer seem like a good bet?
Donald Roy