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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: KyrosL who wrote (108198)6/12/2001 8:34:20 AM
From: Mike M2  Read Replies (2) of 436258
 
Kyros, the Bretton Woods agreement made in 1944 established the US $ as the world's reserve currency. Do you think the fact that the vast US arsenal of democracy played a major role in saving Europe and Asia was a factor in this agreement? of course. The cold war communist threat served to perpetuate the US $ as the world's reserve currency - who else could take on the Soviets? It is not that we threaten violence against our allies but that we were willing to be the world's policeman and impose our version of justice on the rest of the world. A strong military is expensive - I guess one could argue the reserve status of the US $ is a way for the world to subsidize our military and its role as the world's policeman. Mike
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