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To: SeekAndFind

This is pretty much uncharted territory with hypothetical consequences. I’ve tried to compare the switch from the Pound Sterling to the US Dollar as the world’s reserve currency, but there are too many differences between today and the 30’ leading into WWII. For most, a change today is instinctively scary. It’s much more comfortable living with the status quo. Perhaps that’s the real problem, the status quo that is. Other nations are in an ascendancy and quite honestly the U.S. is either stagnant or in decline.


13 posted on 05/04/2023 10:05:11 PM PDT by ConservativeInPA ("How did you go bankrupt?" Bill asked. "Two ways," Mike said. "Gradually and then suddenly." )
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To: ConservativeInPA
I’ve tried to compare the switch from the Pound Sterling to the US Dollar as the world’s reserve currency, but there are too many differences between today and the 30’ leading into WWII.

You needn't bother doing that!

Rather, just compare the drop in the standard of living and loss of geopolitical importance suffered by the British due to the displacement of the Pound Sterling.

But even that is difficult to assess, since you'd have to try imagining what it would have been like if the £ had instead retained its status (= an exercise in contrafactual history!).

Regards,

19 posted on 05/05/2023 12:18:55 AM PDT by alexander_busek (Extraordinary claims require extraordinary evidence.)
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