3 ms·
<The world can only tolerate so much contradiction.> My guess is the world can tolerate it as long as everybody is making money off it. When that stops, the co
by bwanab 4y ago
<The world can only tolerate so much contradiction.>
My guess is the world can tolerate it as long as everybody is making money off it. When that stops, the contradiction might seem intolerable.
The world needs a default reserve that's not tied to any single central bank. For all the upsides there are also real downsides for the US having its currency as the default reserve.
- neffo 4y agoIt does exist. See SDR/XDRs: https://en.wikipedia.org/wiki/Special_drawing_rights https://en.wikipedia.org/wiki/Special_drawing_rights