economy. And, you know, the fact that the dollar has been the reserve currency for so long doesn't mean that it'll stay the reserve currency for so long, because after all the British pound was the reserve currency for a long time, and it, you know, gave way to the dollar. But no currency has ever been as dominant as the dollar is today. And no other currency on earth today has this feature of a, you know, one type of obligation that is so deep, so liquid, and with such a broad market because, and that's so crucial in a crisis, because everyone wants to be able to, they want to have an asset that they can convert to cash in a hurry. If they can't get cash in a hurry, can't pay their obligations, they're the next Lehman Brothers. And they also want to have an asset that they don't have to sell at fire sale prices and treasury obligations, because the market is so deep and broad. And, you know, we can talk about the exceptions, you know, there have been periods of time when the treasury (38/45)
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