Fed officials said that the past five years the number of U.S. dollars in circulation increased by 42%, mainly due to soaring demand in Europe, a vivid manifestation of the dollar is still welcomed by the whole world.
San Francisco Fed President Williams (John Williams) in its annual report, said: "With the 2010 Spring European debt crisis intensified, the sharp rise in dollar holdings."
The surge in demand for U.S. dollars in cash around the world worried about the safety of their bank and the euro area in the future, but do not be afraid to U.S. inflation or default. Argentina and the former Soviet Union countries, the strongest demand for dollars in cash. Almost collapse of Lehman Brothers in 2008, the same day, the dollar demand significant changes.
Five years ago in September 2008, the year of the dollar in circulation growth rate of 3.8%, followed by average annual growth rate of 7.5%. "In the six months after the bankruptcy of Lehman Brothers, the face value of $ 100 bills holdings soared to 580 million, a growth rate of 10%," Williams said.
The Fed estimates dollars in cash held abroad in the past five years accounted for from 56% to 66%. Banks in recent years, low interest rates mean less loss of cash held, but the demand for the dollar is actually equivalent to the huge interest-free loan to the United States around the world.
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