I am a big fan of Prof. Eichengreen.  I have read his books.  He truly is an expert on the global monetary system.  In that vein, I thought it important to share his seemingly dire view of the dollar impact of a potential US debt default.  I personally believe he is being too pessimistic, but he knows a lot more than I do so here it is…  

“The dollar is the world’s go-to currency. But for how much longer? Will the dollar’s status as the only true global currency be irreparably damaged by the battle in the US Congress over raising the federal government’s debt ceiling? Is the dollar’s “exorbitant privilege” as the world’s main reserve currency truly at risk?”

Please click on the link below to read the full commentary:

http://www.project-syndicate.org/commentary/on-the-fallout-from-a-us-default-by-barry-eichengreen  

Jack Crooks