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The US dollar is the world's indispensable currency, and it provides the United States enormous coercive powers against its adversaries. Over the last twenty years, Washington has increasingly relied on financial sanctions, but Bucking the Buck shows that the more the US wields the dollar as a foreign policy weapon, the more its adversaries move their economic activities into other currencies to avoid US coercion. The book shows that if the US wants to protect the dollar's status, its approach to sanctions needs to become more nuanced.

Economic sanctions, American. --- Dollar, American. --- Monetary policy. --- Monetary management --- Economic policy --- Currency boards --- Money supply --- American dollar --- Money --- American economic sanctions --- United States --- Foreign economic relations.

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Dollar, American. --- Foreign exchange reserves. --- Currency reserves, Foreign --- Foreign currency reserves --- Foreign reserves (Foreign exchange reserves) --- International reserves (Foreign exchange reserves) --- Reserves, Foreign exchange --- Finance, Public --- Reserves (Accounting) --- American dollar --- Money

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International finance --- Interest rate swaps. --- Dollar, American. --- swaps --- dollar --- Interest rates --- -Swaps (Finance) --- AA* / International - Internationaal --- 333.451.2 --- 333.830 --- Swap financing --- Derivative securities --- Finance --- Money market rates --- Rate of interest --- Rates, Interest --- Interest --- Deviezen op termijn. --- Theorieën en algemeenheden over geldrente. --- Working papers --- Dollar, American --- Interest rate swaps --- American dollar --- Deviezen op termijn --- Theorieën en algemeenheden over geldrente --- Swaps (Finance) --- Money

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This study argues that rehabilitating the dollar standard requires that American monetary and financial policies be 'internationalized': the Federal Reserve should aim for greater exchange rate stability by adjusting interest rates to prevent runs for or against the dollar, while the U.S. Treasury aims fiscal policy to balance exports and imports. China, now the world's largest exporter and creditor country, has a critical role to play in sustaining the dollar standard.

Foreign exchange. --- Dollar, American. --- Money --- Currency question. --- Currency convertibility. --- Convertibility of currency --- Foreign exchange --- Fiat money --- Free coinage --- Monetary question --- Scrip --- Currency crises --- Finance --- Finance, Public --- Legal tender --- American dollar --- Cambistry --- Currency exchange --- Exchange, Foreign --- Foreign currency --- Foreign exchange problem --- Foreign money --- Forex --- FX (Finance) --- International exchange --- International finance --- Dollar, American --- Currency question --- Currency convertibility --- E-books --- Dollar [American]

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Monetary rivalry is a fact of life in the world economy. Intense competition between international currencies like the US dollar, Europe's euro, and the Chinese yuan is profoundly political, going to the heart of the global balance of power. But what exactly is the relationship between currency and power, and what does it portend for the geopolitical standing of the United States, Europe, and China? Popular opinion holds that the days of the dollar, long the world's dominant currency, are numbered. By contrast, Currency Power argues that the current monetary rivalry still greatly favors America's greenback. Benjamin Cohen shows why neither the euro nor the yuan will supplant the dollar at the top of the global currency hierarchy.Cohen presents an innovative analysis of currency power and emphasizes the importance of separating out the various roles that international money might have. After systematically exploring the links between currency internationalization and state power, Cohen turns to the state of play among today's top currencies. The greenback, he contends, is the "indispensable currency"-the one that the world can't do without. Only the dollar is backed by all the economic and political resources that make a currency powerful. Meanwhile, the euro is severely handicapped by structural defects in the design of its governance mechanisms, and the yuan suffers from various practical limitations in both finance and politics.Contrary to today's growing opinion, Currency Power demonstrates that the dollar will continue to be the leading global currency for some time to come.

Money --- Dollar, American. --- Euro. --- Renminbi. --- CNY (Money) --- Ren min bi --- RMB (Money) --- Yuan (Money) --- American dollar --- Currency --- Monetary question --- Money, Primitive --- Specie --- Standard of value --- Exchange --- Finance --- Value --- Banks and banking --- Coinage --- Currency question --- Gold --- Silver --- Silver question --- Wealth --- Political aspects. --- International finance --- Dollar, American --- Euro --- Renminbi --- Political aspects --- E-books --- International finance. --- Monetary policy. --- Yen, Japanese. --- Japanese yen --- Monetary management --- Economic policy --- Currency boards --- Money supply --- International monetary system --- International money --- International economic relations