When The World’s Reserve Currency Flash Crashed: “I Haven’t Seen Anything Like It Since The Financial Crisis’

–  When The World’s Reserve Currency Flash Crashed: “I Haven’t Seen Anything Like It Since The Financial Crisis’ (ZeroHedge, March 20, 2015):

On Wednesday afternoon, just after the close of the market, the US Dollar, the world’s reserve currency flash crashed. “I haven’t seen anything like it since the financial crisis,” said Paul Lambert, head of currency at Insight Investment, which manages $480 billion of assets. For a few minutes on Wednesday, the lack of dollar buyers caused a short-term freeze in electronic trading platforms, according to a New York-based trader at a major currency-dealing bank. “There was a lot of shouting on the desk, a lot of nervousness,” the trader said.

1 thought on “When The World’s Reserve Currency Flash Crashed: “I Haven’t Seen Anything Like It Since The Financial Crisis’

  1. This may well be a forerunner of what is to come. Nearly 70% of the world economies no longer use the dollar to complete trades with other nations…… instead use electronic currencies & have made the entire process of using a world reserve currency obsolete. Nations who are part of BRICS, or the South American Trade Association, have rendered the use of any world reserve currency unnecessary.

    As the dollar becomes more irrelevant, buyers will fade away……..I wonder how many of the buyers who came to the rescue of the dollar yesterday were part of the FED or US banking……..

    Another important story that will be ignored by US media.

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