Politico recently reported on the possibility of a concerted attack on the U.S. dollar which, if valid, could have a meaningful impact on annuity owners and other recipients of fixed income.
The story suggests that Arab oil sheiks are conspiring with the Chinese and Russian governments to eliminate the U.S. dollar's role as the reserve currency in the global oil trade.
The dollar's role in the oil trade serves as a linchpin for its relative strength and role as the world's overall reserve currency.
The loss of such status could have a profound impact on retirees and other fixed income recipients who are especially vulnerable to interest rate risk and inflation risk.
Source: Politico
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