> History is littered with global reserve currencies outright failing or losing its global reserve status.
No, its not.
Heck, history isn't even littered with global reserve currencies; there's maybe three total—the Spanish Dollar, British Pound Sterling, and US Dollar—and the Pound Sterling is iffy, given the emergence of the gold standard.
(Regional reserve currencies existed previously, but nothing approximating global.)
I don't see anyone arguing that there have been fewer than 6 world reserve currencies in recorded history and plenty that say more. No idea where you're coming up with at most three.
> I don't see anyone arguing that there have been fewer than 6 world reserve currencies in recorded history and plenty that say more
Name six and the time period during which each was the global reserve currency. (Not that six would be enough for history to be “littered with” examples anyway, but...)
Well firstly global in this context just means that most financial authorities held the currency as a reserve, which for a lot of history I believe mostly only european countries had centralized financial authorities. So we're talking about european reserves for much of history. With that said:
florentine florin
venetian ducat
portugese real
spanish real
dutch guilder
french livre
british sterling
USD
to name 8
everyone is capable of deciding if changing reserve currencies every ~100 years is "littered" or not, but it easily passes as being commonplace in my opinion when you're talking about a millennia of history.
Happy to give a response if you'd like to argue your point, but otherwise this just seems like a snarky comment for sake of being snarky on the internet.
My point is really well established. Many real currencies, some failed. Many cryptocurrencies, most failed. The "snark" appears to be required to actually drive the point home. I don't care if you want to argue your point.
No, its not.
Heck, history isn't even littered with global reserve currencies; there's maybe three total—the Spanish Dollar, British Pound Sterling, and US Dollar—and the Pound Sterling is iffy, given the emergence of the gold standard.
(Regional reserve currencies existed previously, but nothing approximating global.)