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Why does a reserve currency even need to exist? Bretton Woods was a result of the extraordinary circumstances of WW2. The move to the petrodollar was a good dea
by anon84873628 2y ago
Why does a reserve currency even need to exist? Bretton Woods was a result of the extraordinary circumstances of WW2. The move to the petrodollar was a good deal at the time letting the US play world police. Now it's clear that the US isn't a reliable security partner even if other countries wanted it. The oil producing nations would surely be happy to start selling in other currencies.
- disgruntledphd2 2y agoYou're always going to have one currency that is used for most of international trade, because it's much cheaper for country A exporters and country B exporters to settle in one currency. 1-N systems are generally stabler than N-N systems.