Making Sense of the Dollar: Exposing Dangerous Myths about Trade and Foreign Exchange by Marc Chandler. Bloomberg Press. 2009.
The possible impact of our escalating budget deficits, heavily financed by overseas money, has created concern about the future of the dollar. This concern has not been matched by education and knowledge on foreign exchange, even among financial professionals.
In Making Sense of the Dollar, author Marc Chandler debunks the myth that the dollar is no longer considered the finest currency. Chandler is well qualified to educate us on this subject matter as he is chief foreign exchange strategist at Brown Brothers Harriman.
His approach is to take conventional wisdom, show why it is wrong, and why this world is more complicated than we think. Each chapter addresses a myth on the dollar such as: The Trade Deficit Reflects U.S. Competitiveness, The Current Account Deficit Drives the Dollar, and The Dollars Privileged Place in the World Is Lost. His conclusion is that the dollar will remain the premier currency far into the future. Whether or not readers agree with this conclusion, they will come away with a far more informed and sophisticated understanding of how to analyze the future of the dollar.
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