japan20000

It's Good to Be the World's Reserve Currency

It is surprising to see little discussion about what ultimately backs a currency. That would be the economic output and the ability to secure it in the future. And I do not remember seeing on this post more broad considerations such as the fact the Americans have all possible natural resources under their feet, which cannot be said about Europe, and they have ONE 300-million-people market in which they can be put to use (as opposed to Europe that is reminiscent of feudal times in this respect). They also have an army to protect that economy and its external markets and suppliers. Does UK have any of this? Does Europe have any of this?