Interesting information about the US Dollar!
Has the US Dollar become the de facto world currency? Some say yes.
Over 24 countries or territories (1) use the US Dollar as their default currency. The majority of major economies hold immense reserves of this currency. A shock to the US economy as experienced in 2008 sends ripples of disruption across the globe.
Zimbabwe is a classic example of switching to the fiat currency after it suffered an enormous financial crisis that led to hyper inflation: essentially making its currency worthless. On February 2 of 2009 300 trillion Zimbabwe Dollars were worth a mere 1 US Dollar. Today, the bills are held as a novelty/collectible item.
Take a look at how new hundred dollar bills are printed here:
In the last year alone (2), one billion new hundred dollar bills were net-effectively brought into circulation. A little-known fact is that there are 400,000 bills worth between $500 and $10,000 in circulation!
Discussion points:
Do you think the US Dollar will continue to gain footholds worldwide before what seems to be an inevitable shift to digital (cryptographically-secured) money or will its use only stagnate from here on in?
What interesting US Dollar facts should the community be informed of?
What more would you like to know about the US Dollar?
Sources:
(1) http://uk.businessinsider.com/usd-countries-use-dollars-as-currency-2018-5?r=US&IR=T
(2) https://www.federalreserve.gov/paymentsystems/coin_currcircvolume.htm