There have long been calls for a new currency to take the place of the US dollar as the world's reserve currency of choice -- in the recent past these calls have been blasted through a bullhorn courtesy of Chinese officials wanting the yuan renminbi to take its place. Such cries have been made before, and yet nothing has risen to oust the dollar since it first gained prominence as the premier reserve currency after the second world war -- with its peg to gold under the Bretton Woods system. When the dollar weakened in the latter half of the 1970s, similar calls were shouted from the rooftops, but the dollar held sway.
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