{
  "id": 8947385,
  "title": "Chartbook 475: After the dollar as reserve currency, the (profit) dollar as a “portfolio currency”.",
  "url": "https://urgent.news/2026/09/21/chartbook-475-after-the-dollar-as-reserve-currency-the-profit-dollar",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-21T15:14:47.000Z",
  "source": {
    "name": "Chartbook",
    "slug": "chartbook",
    "url": "https://adamtooze.substack.com/p/chartbook-475-after-the-dollar-as"
  },
  "original_language": "en",
  "account": "After the dollar's reign as the world's reserve currency, it is increasingly being referred to as a \"portfolio\" or \"funding\" currency. This shift is due to a deceleration in official reserve accumulation, which has been a unique configuration since the early 2000s. According to a graph by Karl Schamotta, the decade-long surge in US Treasury issuance, which was previously an asset in reserve managers' portfolios, has since shifted to funding corporate America rather than the US Government. As a result, this new configuration highlights the evolving role of the dollar in global finance.",
  "summary": "“The dollar is the world’s reserve currency.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}