DoubleLine Paper: Digital Currencies, Bilateral Settlement Could End Dollar as World Reserve Currency

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LOS ANGELES, Oct. 29, 2020 /PRNewswire/ -- DoubleLine Capital LP has posted on a new paper titled "Bilateral Digital Currency Payments and the Twilight of the Dollar," written by Bill Campbell, co-Portfolio Manager of the DoubleLine Global Bond Strategy.

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To obtain the paper, please click on this link:

In conjunction with work to develop digital currencies, central banks "are devising a new structure for electronic payments to sweep aside the decades-long framework for payment settlements, both domestic and international,´ Mr. Campbell writes. "The world's central banks and the Bank of International Settlements (BIS) envision a network of multiple cross-border payment systems featuring direct bilateral exchanges in the world's different currencies. Such a regime would discard the decades-long mediation through the world's reserve currency, the U.S. dollar."

This new paper expands on Mr. Campbell's Oct. 6, 2020, paper, "The Pandora's Box of Central Bank Digital Currencies," which can be accessed at the following link:

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SOURCE DoubleLine