Federal Reserve: Is the Dollar Bill in Danger? #657-2

“Other countries are nibbling around the edges of our financial system,” but that the dollar will not be replaced. According to Allan Meltzer, Ph.D., American Economist, Senior Fellow, Hoover Institute, and author of a three-volume history of the Federal Reserve, asserts that the Euro is another example, where the currency bond market used to be mostly dollars, but is now mostly in Euros. He notes that before the Sarbanes-Oxley Act of 2002, half of all new issues went on the stock exchange in New York, but regulations drove the market toward London.

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