A Brief History of Global Anchor Currencies

A Brief History of Global Anchor Currencies
By Sanjeev Sanyal | Thursday, May 24, 2012 The Globalist - http://www.theglobalist.com/storyid.aspx?storyid=9633

Throughout history, the global system of trade and finance has only ever been in "balance" by lucky coincidence — or when a hegemonic power has imposed its will in order to make the system work. In addition to setting the rules, these powers also supplied crucial liquidity to facilitate the flow of trade between countries. Sanjeev Sanyal explains.