This is not really accurate. National currency as the defacto reserve currency does not necessarily guarantee a trade deficit. It just happens that way in hist

This is not really accurate. National currency as the defacto reserve currency does not necessarily guarantee a trade deficit. It just happens that way in history quite often, but it is unsustainable throughout the currency lifecycle. > The solution is a non-national global reserve ... Keynes argument. Keynes was wrong about a great many things which weren't really recognized until after the 1970s. His depiction of Say's law (and the disproving caricature of it which meant nothing), as well as the related actual failures of monetary policy in low interest rate environments, where his theories indicate contradictory outcomes. I'd like to know why you think this would be a solution. It is not an obvious stance, and in fact the suggestion has been discounted in the past as impossible/intractable for a large number of reasons. First and foremost any system would be fundamentally unstable, and the risk of economic contagion unmitigated, there are cultural, sovereign, and other influences at the intersection of fiscal and monetary policy. Most of the issues under that proposal are caused by the lack of economic calculation being possible, and growing chaos, and its a problem where the indicators lag behind the wave, so it comes without warning, or possibility to react.