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Power balance (lemmy.ca)

submitted 5 days ago by RelativityRanger@lemmy.ca to c/politicalmemes@lemmy.ca

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[–] corsicanguppy@lemmy.ca 3 points 5 days ago* (last edited 5 days ago) (1 children)

there isn't exactly a replacement other than gold,

If only there was another currency used by a number of different countries.

What does France and Germany use? Can England back their pounds on the franc?

[–] TranscendentalEmpire@lemmy.today 2 points 5 days ago (1 children)

What does France and Germany use? Can England back their pounds on the franc?

Are you asking if the EU can use the euro as a reserve currency?

[–] corsicanguppy@lemmy.ca 1 points 2 days ago (1 children)

I think I am, in the same way America uses its own currency. It's working for them; until this years potential collapse, I mean.

[–] TranscendentalEmpire@lemmy.today 1 points 2 days ago

America doesn't use their own currency as a foreign currency reserve. They really don't have much of a need for a foreign currency reserve as they have historically had a relatively stable currency and a lot of partners who are more than willing to trade in USD.

The US has around 30-40 billion in reserve currency while the EU has somewhere between 300-400 billion.