Mike: It is my privilege now to be joined by David Smith, Senior Analyst at The Morgan Report and regular contributor to ILB’s website. David, thanks for coming on again. How are you?
David: Very good, Mike. It’s good to speak with you again.
Mike: David, you’ve written a couple of really informative exclusive articles for us over the last couple of weeks that I want to talk with you about a little bit. First off, you penned a piece called the Petrodollar Spiral, highlighting the growing concerns surrounding the US dollar’s long-term status as the world’s reserve currency. I want to get to what’s happening today and how we may be losing our grip on having the privilege of being the world’s reserve currency, but first, just how did the US find itself in this envious position of owning the most sought after currency in the world?
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