John Kerry Warns “Dollar Will Cease To Be Reserve Currency Of The World” If Iran Deal Rejected

Scaremongery… or maybe the whole point, as Obama’s former chief economist noted, is to lose reserve status. Take That China!!
As Jared Bernstein previously explained…
There are few truisms about the world economy, but for decades, one has been the role of the United States dollar as the world’s reserve currency. It’s a core principle of American economic policy. After all, who wouldn’t want their currency to be the one that foreign banks and governments want to hold in reserve?

This post was published at Zero Hedge on 08/11/2015.