The U.S. dollar is the world’s reserve currency of choice. It’s the currency that most of the planet’s business is conducted in, and it’s what most nations hold in their central banks, in addition to national currencies, in case of catastrophe. The idea is that since the U.S. government is always good for it’s money, and always pays its bills, the dollar and U.S. treasury bills are the safest bets around. But what if they aren’t? What happens if thanks to our repeated debt ceiling debacles and threats to go into default, people stop trusting in the dollar? That’s the question that Joe Nocera, Charlie Herman and I ... (full story)