The United States does not have an emperor like ancient Rome’s Nero, but its politics are increasingly subject to rule by one man who threatens its democratic traditions. And just as Nero undermined the Roman denarius—arguably the world’s first international currency—America’s ruler poses a growing threat to his country’s currency.
SEOUL – There is angst in the air about the US dollar’s once and future global role. For insight into the greenback’s prospects, pundits have looked to the British pound sterling, the dollar’s predecessor as the dominant international currency, and asked how economic stagnation, heavy debts, and failed geopolitical adventures, like that in Suez in 1956, conspired to rob it of its global role.
SEOUL – There is angst in the air about the US dollar’s once and future global role. For insight into the greenback’s prospects, pundits have looked to the British pound sterling, the dollar’s predecessor as the dominant international currency, and asked how economic stagnation, heavy debts, and failed geopolitical adventures, like that in Suez in 1956, conspired to rob it of its global role.