Loading ...Passing The Global Reserve Currency Baton
Recently I posted about the last 600 years and the various global reserve currencies over that period. Each ran between 80 and 115 years. The US has held the role since about 1921 so now over 100 years and approaching it’s expected expiration date. I have stated in the past that eventually China will be the next to have that role. While there are still factors that need to happen before that takes place they are well on their way to doing so. This quick video explains how and why it won’t be too many years until that happens.
Another step in that direction. Maybe the IMF and other global financial organizations realize it is better to prepare and take steps to gradually implement the inevitable, rather than wait for a collapse and the chaos that would accompany it. https://www.zerohedge.com/geopolitical/imf-hints-allowing-countries-use-chinese-yuan-debt-repayment
I wonder if it’s possible that the next global currency will not be any one national currency. The distinction of being the chosen currency is certainly a double edged sword for any leading country. China may be more aware of history in this regard than counties that achieved this dubious distinction in the past. The talk coming from the BRICS and SCO seems to indicate a new currency will be used to facilitate international trade, but not to displace any national currency. Then again, it may be that a natural inclination toward the strongest national currency is always inevitable.