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I think this is FUD. The world has lived without reserved currency controlled by a single country before and it will do it again.
by FpUser 5y ago
I think this is FUD. The world has lived without reserved currency controlled by a single country before and it will do it again.
- chemeng 5y agoHas it? It’s pretty much been a gold-backed currency making gold the defacto reserve currency. Curious whether the USD has been the only fiat reserve currency.
- FpUser 5y agoYes it has. Gold was not controlled by a single country.
- spiralx 5y agoGlobal currency reserves are currently ~60% USD, ~30% EUR and 9% GBP/JPY/CAD, USD use as a reserve currency has been trending down for decades now. As for previous reserves I would guess before the Euro the German Deutschmark and French Franc would both have been used for reserves instead.
- lostcolony 5y agoAt a time with far less globalization. The world will live, sure, but it would definitely be a major change if the movement of goods around the world also necessitated arbitrage due to currency fluctuations in whatever local currency was being used to negotiate its passage at each stage.