Treasury secretary sees potential new swap lines as boost to dollar's dominance

By Daniel Flatley Bloomberg News Friday, April 24, 2026 Treasury Secretary Scott Bessent talked up the idea of extending currency swap lines to more countries as a way to strengthen "dollar dominance" in a social media post today as speculation continues over why rich countries such as the United Arab Emirates would be interested in the arrangement. "Additional swap lines can benefit our nation by reinforcing dollar usage and liquidity internationally," Bessent said in a post on X. "Dollar dominance and reserve currency status are strengthened by constant long-term initiatives, including countering the growth of problematic, alternative payment systems." ... Dispatch continues below ... ... ADVERTISEMENT ... USA Gold: Coins and Bullion Since 1973 USAGold, well known for its internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business. Please call 1-800-869-5115x100 and ask for the trading desk, or visit: http://www.USAGold.com USAGold: Great prices, quick delivery -- all the time. Bessent described discussions with the UAE and other Gulf and Asian nations on dollar swap lines as being "part of ongoing, routine conversations" the U.S. Treasury has engaged in over a period of a number of years. After President Donald Trump confirmed that a swap line with the UAE was under consideration this week, the UAE's ambassador to Washington stated that his nation isn't in need of external financing. On a similar note, Bessent said today that "many of these countries have pristine sovereign balance sheets and large dollar holdings." ... ... For the remainder of the report: https://www.bloomberg.com/news/articles/2026-04-24/bessent-casts-potential-new-swap-lines-as-boost-to-dollar-s-role * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon: https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1 * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Donations of US$500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work: https://www.gata.org/sites/default/files/GATA-silver-round-front.png