The above was produced by J. P. Morgan. We all know that the British £ was the world's reserve currency of choice. But in my life time it lost that distinction to the US$.
The graph shows that once Portugal had the reserve currency of the world.
There is no nation that can claim to have the reserve currency of the world forever. Given the inordinate wild and massive demands of US MIC (Military Industrial Complex and its numerous wars) the US has printed such an untold number of dollars that it cannot support is debt. It is essentially bankrupt - just as GB was at the end of WW II.
Like GB, the US has to graciously step down and give way to either one or a cluster of nations whose combined currencies become the world's reserve currency.
The alternative is to hand it to a group of unelected person's who run the IMF and whose print currency is SDR, Special Drawing Rights.
What will the great powerful and the good do?
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