David in England

In Search of the Next Reserve Currency

The last time the world reserve currency moved, from GBP to USD, it took many years, bankruptcy of the UK, semi defeat of UK in WWII and total dominance of the world economy by the US.
Only some of these conditions are in prospect now and the Euro is a long way from being ready, even if the UK joins it.
We do need a world reserve currency to support globalisation and prosperity and it would be better if its 'owner' did not exploit it as shamelessly as the US has done. What would a basket look like?