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Following a scarcity of dollar funding available internationally to banks and financial institutions, in December 2007 the Federal Reserve began to establish or expand Temporary Reciprocal Currency Arrangements with fourteen foreign central banks. These central banks had the capacity to use...
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The US dollar is the world's indispensable currency. The dollar's preeminent status gives the United States enormous … conclude that sanctions threaten the dollar's status as the world's key currency, the potential consequences of sanctions … potency of financial sanctions and protect the dollar's dominant position in the world economy, Bucking the Buck argues that …
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