Reserve currency

What makes the US dollar the world’s reserve currency and not anything else like crypto or gold?

What qualities of a currency qualify it as being a globally accepted one?

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biggest gun

That’s fascism. That’s not how supply and demand markets work.

first country to nuke people

The US was the only country left standing after WWII, so it had the best economy and was chosen for the reserve currency. This stuck.

Nowadays, what is the alternative?
>Ruble
lol
>Rupee
lmao
>Yuan
China plays games with its currency all the time, and if you piss off the CCP you might get wrecked.
>Euro
EU is an American vassal, let's be real

As usual, America wins because everyone else is genuinely incompetent

Trust in American hegemony.

Oil is purchased with USD. That's it. The petrodollar

>nowadays what’s the alternative?

Crypto.

I don’t see why people can’t just buy oil with bitcoin or anything else.

America was a massively exporting nation so everyone needed a reserve of dollars to buy from it plus it was backed by gold
After Nixon rug pulled the gold standard, since everyone still had massive dollar reserves they just decided to keep it that way and America would in return use it to invest in a massive military to ensure world development

Trickery and manipulation by military control, political control, cocaine control, and much more. Let me add that there will be more than one reserve currency as mr powell has stated, and we already got in the works a digital dollar by the united states government.
Ruble is gold backed so it's actually showing strength.

Also they secured the oil standard too

>Bans your cryptocurrency

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>What makes the US dollar the world’s reserve currency
Don't be a fucking brainlet like 90% of Any Forums, go read a history book. The Allies established the monetary order through the Bretton Woods system after WWII. This wasn't a consensus like people valuing gold or a spontaneous market like free floating exchange rates.

it wasn't an instant process. it started after ww2 at the bretton woods conference, where the UK and US debated over the future of the global monetary system. there needed to be a freely convertible international unit of account to resolve liquidity shortfalls in international trade. the UK backed the bancor, a nonsovereign supranational unit that would be maintained by all members of an international clearing house. but the UK was too weak and poor after the war to stop the US from asserting itself, which it did by offering up the dollar to serve in the bancor's place. the international monetary fund became an arm of US power and America became the bank of the world. this effext was magnified by the devastated condition of the planet, which greatly desired American capital to rebuild. So the dollar went on to establish an incredible network effect through huge loans to every country on earth, a system of debt that has just gotten bigger and bigger over time. the demand for dollars is sustained by the necessity of paying interest on these loans, such that even as the dollar inflates into the stratosphere, there is still heavy demand for USD because national default and bankruptcy is a financial death sentence, and as their debts and interest payments mount countries simply borrow more and more

post WWII hegemony extending to present day
interest payments on US treasuries are paid in USD
and US navy

holy shit ive always wondered what that hotel was the few times e been to mt washington

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>Oh no, that isn't very effective!

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so it was a coincidence that Usd became the reserve currency in '45 at the conclusion of WW2

>banning a currency from being used to purchase oil
Kek that has worked out great so far

The world isn’t ready

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