But they don’t have to “get more dollars”. Virtually every nation in the world holds large stores of them as the primary world reserve currency.
aside from being a pretty dumb analogy it misses the point. Countries had no choice, they had to have dollars to buy oil, no dollars-no oil. If you don’t get how that creates demand for dollars I don’t know what to say. Oil is the lifeblood of the worlds economy, and if you wanted it, you had to have dollars. Now you don’t.
For what it’s worth the vertical axis here somewhat hides fluctuations of similar magnitude in the past. for example the flat / dip in the late 1990s / early 2000s is similar (well, larger) as a total share. The nerd in me wants to log that chart : )
But thinking just a bit more: Is that late 1990’s decline in treasuries held by private partly a decline US non-intergovernmental debt? ← That’s completely off topic but it caught my eye.
Now i need to do my real job for a bit 
they did not hold infinite amounts and if they wanted to keep up their reserves they needed to add more to them. They didn’t just dip in the piggy bank and not replace it.
lol. the ruble is totally worthless.
i will agree.
Allan
Oh. Yeah.
I once walked past a math class where the prof was saying with long term charts we sometimes need to use a logarithmic scale
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Essentially they will be able to settle in any currency which is part of the SDR basket. The basket would become the unit of measure, with the quantity of the currency chosen to settle driven by the conversion formula to SDRs for that currency. They wouldn’t have to actually hold SDRs.
Ha! I’m thinking you were a bit more engaged than walking past math classes.
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the dollar is collapsing… let’s start another war
history never repeats
