Backing the Buck By Ron Insana About this article: I'd like to clear up some confusion about the foreign exchange value of the dollar amid all the calls for a new global currency. First, as I said yesterday, I view the complaints by Russia, China, India, Brazil and others about the dollar's role as the world's reserve currency as political posturing and nothing more. There is no near-term alternative to dollar liquidity worldwide and can't be for quite some time to come. The world is awash in dollars. The Federal Reserve is the de facto central bank to the world. You need look no further than the myriad "swap lines" the Fed gave to foreign central banks to boost their dollar liquidity in the wake of the credit crisis. The many nations that have benefited from the largest consumer market in the world -- the U.S. -- have little choice but to recycle their foreign exchange back... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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