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   Alien software, human hardware (mavu@mastodon.social)'s status on Sunday, 02-Mar-2025 07:26:02 JST Alien software, human hardware

   in reply to

   • Graydon

   @graydon the Euro can be the new reserve currency.
   I'm sure we (europe) would appreciate this very much if it comes with all the perks the dollar enjoyed so far. :)

   • Embed this notice
     Graydon (graydon@canada.masto.host)'s status on Sunday, 02-Mar-2025 07:26:03 JST Graydon

     Having a reserve currency is younger than the Great War.

     (reserve currency = the ratio of ~gold to economic activity is unworkable for a metallic currency, but we have to use something as a reference.)

     Lots of the current value of USD arises from its position as the global reserve currency. Losing the position involves losing that value, and it's unrecoverable, arising as it does from a history of conduct.

     A disorderly loss of reserve currency status shall be a new thing in the world.

     Mr. Bill repeated this.