Will the U.S. Dollar Survive the Breakdown of the International System? | Paul Blustein

Hidden Forces

In Episode 412 of Hidden Forces, Demetri Kofinas speaks with financial journalist and economic historian, Paul Blustein about the U.S. Dollar’s historical resiliency in the face of international shocks and crises, and whether Dollar hegemony can survive the breakdown of the international capital and trading system.

In the first hour, Kofinas and Blustein trace how the U.S. dollar became the de facto currency for global trade, savings, and investment and what recent policy shifts in Washington—and how they have been perceived abroad—may mean for the future value and status of the Greenback.

The second hour builds on this foundation as Paul and Demetri speculate about what the future holds for dollar hegemony in a world characterized by growing trade protectionism, a breakdown in international cooperation, and a potentially irreparable loss of confidence among foreign investors in U.S. leadership and in the strength and reliability of U.S. capital markets.

This could not be a timelier conversation about a subject whose ramifications will continue to play out over many years if not decades to come.

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Producer & Host: Demetri Kofinas Editor & Engineer: Stylianos Nicolaou

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Episode Recorded on 04/23/2025