TGGR RESEARCH · MONETARY AND RESERVE SYSTEMS
Monetary & Reserve Systems
How reserve currencies, sovereign balance sheets and monetary choices shape resilience and international power.
AREA OF INQUIRY
What this area examines.
This area examines the functions of international currencies, reserve composition, sovereign debt markets, exchange-rate arrangements, gold and the evidence surrounding monetary diversification. It separates changes in reserve preference from changes in payments, funding and trade invoicing.
Questions followed
- What keeps a reserve currency useful at global scale?
- Where is diversification visible in measured holdings and flows?
- How do debt, liquidity, convertibility and legal confidence interact?
CONNECTION TO APF
Why this area matters to the system.
The monetary layer supplies the reserve assets, units of account and confidence anchors used across the wider system. Changes here affect funding costs, trade settlement and policy room, while developments in energy, resources, institutions and geopolitics feed back into reserve behaviour.
RELEVANT RESEARCH
Studies in this area.
New essays, research notes, explainers, case studies and data updates assigned to this TGGR area will appear here.
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Geopolitics & Global Order | TGGR · Banking, Finance & Payments | TGGR · Geopolitics & Strategic Autonomy | TGGR · Institutions & Global Governance | TGGR · Monetary & Reserve Systems | TGGR Research
The September Shock That Wasn’t
BRICS kept the dollar’s core jobs intact
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Why the Dollar System Still Matters
The dollar is not one thing — it does six jobs in the world economy. Alternatives should be judged against those jobs and four simple tests, not a single de-dollarisation headline. Includes latest IMF COFER, BIS FX, and SWIFT payment-share figures.
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Geopolitics & Global Order | Markets & Economics | TGGR · Institutions & Global Governance | TGGR · Monetary & Reserve Systems | TGGR Research
The September Shock? Why the 2026 BRICS Summit Could Become a Turning Point for the Dollar-Based Financial Order
As BRICS prepares to meet in New Delhi, rising U.S. debt, geopolitical conflict and accelerating financial fragmentation are converging. Could a new settlement architecture challenge dollar dominance—and trigger the next major repricing across global markets?
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Geopolitics & Global Order | TGGR · APF & System Integration | TGGR · Monetary & Reserve Systems | TGGR Research
The Great Global Re-balancing
An examination of the gradual shift beyond a dollar-centred world, using the Adaptive Polycentric Framework to explore how reserves, payments, energy, infrastructure and geopolitical relationships may evolve as middle powers build greater resilience and strategic flexibility.
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