Tibetan Monks May Hold Clue to Dollar's Future

Author: Amity Shlaes

“These days, nobody seems to doubt that the U.S. dollar will lose its status as the world’s reserve currency. To watch the financial news channels you would think that the dollar-yuan relationship is so unstable that the only question is whether it will be Ben Bernanke or Chinese monetary authorities who will determine the details of the breakdown.  Perhaps the dollar won’t be surrender its anchor role so soon. And perhaps that loss, if it comes, will happen because of events that take place nowhere near men in suits at a central bank. Maybe the answer to the dollar’s riddle can be found in the cellphone photo image of a Tibetan monk in crimson and orange squaring off with a Chinese soldier.” Amity Shlaes looks at the role of China in the future of the US dollar.

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