‘America First’ requires dominance of King Dollar

For years, monetary doves have challenged hawks worried about the dominance of the U.S. dollar as the world’s reserve currency, with a very good question: What sovereign currency could replace it?

As it turns out, the answer is none of the above. But that doesn’t mean the greenback isn’t being replaced. After the single-worst year of performance for King Dollar in nearly a decade, the USD has continued to collapse. The U.S. Dollar Index has fallen by over 3% in less than a fortnight since President Donald Trump escalated his war on the Federal Reserve‘s independence — an effort supercharged by the Justice Department’s unprecedented criminal investigation into Fed Chairman Jerome Powell and the president’s since-revoked tariff threat in his gambit to get Greenland.

But the USD