How did the dollar shortage occur?

The dog wants to point you in the direction of a great paper over at the BIS. The paper is entitled "The US dollar shortage in global banking and the international policy response" and is written by Patrick McGuire and Goetz von Peter. Here is the paper for your review:

http://www.bis.org/publ/work291.htm

This paper is a great examination and analysis (reconstruction of balance sheets) of data leading up to the shortage of the dollar.

Tell us what you think.......................