Money, Empire & the World's Reserve Currency
เมื่อสหรัฐหักหลังอังกฤษ ยึดบัลลังก์เงินโลก เพื่อนรักหักเหลี่ยมโหด!
Summary
In 1944, while British and American soldiers fought side by side, a separate contest was under way behind the lines over who would hold the world’s money.
Britain lost, and the dollar has been the world’s currency ever since.
The question left open is whether the pattern is about to repeat, with China now in the challenger’s position.
Key points
Wartime allies are not financial allies
The two can run in parallel without contradiction, which heroic history tends to leave out.
Britain had lost before it sat down
War debt and dependence on supply weakened its position before the negotiation opened.
The handover happened on paper
Not a shot was fired over it, and the consequences have run for eighty years.
The present conditions are not identical
China is not in the position America occupied in 1944, which is worth holding onto when drawing the comparison.