Exit Liquidity
<p><em>(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.)</em></p>
<p>Repeat after me …</p>
<p><strong><em>“I Will not be exit liquidity!”</em></strong></p>
<p>Being someone’s exit liquidity means you’re one of those schmucks who is buying or holding when the smart or connected folks are selling. In the context of this essay, exit liquidity refers to the unfortunate plebes who have been — and continue to be — on the losing side of the economic arrangement that is the US dollar’s reserve currency status.</p>
<p>The debate over whether the USD can be replaced as the global reserve currency is a heated one. On the one hand, some vocal elites of Pax Americana are incredulous that any country could step up to the plate and hold the world economy on its shoulders (<a href="https://www.youtube.com/watch?v=KtJJC0nWs9s" rel="noopener ugc nofollow" target="_blank"><em>America, Fuck Yeah!</em></a>). On the other hand, there are increasing signs that certain corridors of trade are de-dollarising, and actually have been for some time.</p>
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