yea they don’t realise everything was pegged to the dollar under Bretton Woods
Keynes’ proposals would have established a world reserve currency (which he thought might be called “bancor”) administered by a central bank vested with the power to create money and with the authority to take actions on a much larger scale.
In the case of balance of payments imbalances, Keynes recommended that both debtors and creditors should change their policies. As outlined by Keynes, countries with payment surpluses should increase their imports from the deficit countries, build factories in debtor nations, or donate to them—and thereby create a foreign trade equilibrium.[15] Thus, Keynes was sensitive to the problem that placing too much of the burden on the deficit country would be deflationary.
But the United States, as a likely creditor nation, and eager to take on the role of the world’s economic powerhouse, used White’s plan but targeted many of Keynes’s concerns. White saw a role for global intervention in an imbalance only when it was caused by currency speculation.
Although a compromise was reached on some points, because of the overwhelming economic and military power of the United States the participants at Bretton Woods largely agreed on White’s plan. White’s plan was designed not merely to secure the rise and world economic domination of the United States, but to ensure that as the outgoing superpower Britain would be shuffled even further from centre stage.[34]
i mean its basic historical knowledge that U.K. lost much of its power to the U.S. after WW2
100 bucks that this person is cis and their understanding of trans safe spaces doesn’t go further than “don’t openly advocate for their death”.
https://hexbear.net/comment/3905062 yep
Remember that whole “how dare you try to reign my privatized colonial war profiteering monopoly in” East India Company squabble with England?
The UK basically loaned out its empire to the US, this happened during both world wars. I think South Africa even wanted to switch to the dollar?
yea they don’t realise everything was pegged to the dollar under Bretton Woods