The Real Currency War

MIN READApr 28, 2016 | 09:15 GMT


Disagreement came to the global financial system when the control over reserve currency became a matter of privilege rather than responsibility. That struggle has since become a morass of monetary expansion and conflict as states have pursued their own, often incompatible currency goals. The battle of the currencies has left widespread financial instability in its wake, weakening the state-centric currency model that ruled the monetary order for the past century. Now, a different type of money -- digital currency -- is making a play to become the new standard. If successful, the politics of money could radically change, and with it, the power of states themselves. And though the U.S. dollar has reigned supreme for decades, its primacy and its stability are no longer guaranteed....

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