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Heliograph
Heliograph
@Heliograph@mastodon.au  路  activity timestamp 2 weeks ago

on a different note 馃幎馃挼 ...

"that was just the proposal put up at the 1944 conference...
There was another plan that didn't get up, put by JM (Lord) Keynes an economist rather than a politician, which would not have had the US as the predominant global financial power and would have led to an entirely different rule-based #worldorder.

#Keynes's idea was known as " #Bancor", named after the new currency that he proposed. It wouldn't be a unit of money that people could carry in their wallets or, these days, tap with their phones, but a "unit of account" that would be used for transactions between governments and central banks. Its value would be fixed to gold, but adjustable, and all other national #currencies would be pegged to it."

edit "There have already been a few attempts at doing something like what Keynes proposed.

The IMF has an existing reserve asset called the SDR (special drawing rights) and in 2009, the governor of the People's Bank of China called for the SDR to be transformed into a "super-sovereign reserve currency" modelled on Keynes's Bancor to replace the US dollar.

That was opposed by the US and didn't get up, and China didn't have the clout then that it has now."

https://www.abc.net.au/news/2026-01-26/trump-us-dollar-keynes-bretton-woods-economy /106260832

PS: i just broke the link to remove his ugly face... just take out the nbsp/

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