Digital Currencies Could Threaten US Geopolitical Power, Warns JPMorgan

Read more on this subject: Cyberspace and the New Economy
News Story Source: https://www.zerohedge.com by Marie Huillet
So goes the stark warning from analysts at the U.S.' largest bank, JPMorgan Chase, in a new report covered by Bloomberg News on May 22.

The report's authors – among them, JPMorgan's head of of U.S. interest-rate derivatives strategy Josh Younger and chief U.S. economist Michael Feroli – wrote:

"This revolves primarily around U.S. dollar hegemony. Issuing the global reserve currency and the medium of exchange for international trade in commodities, goods, and services conveys immense advantages."

The more fragile links in the global dollar system

While the analysts do not anticipate the dollar losing its status as global reserve currency anytime soon, they pointed to some of the weaker links in the currency's dominance — including in trade settlement and the SWIFT messaging system.

SWIFT was notably a key lever in imposing sanctions on the Iranian regime, falling into line with the U.S. administration and suspending
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