174

England is a US vassal state and you're all part of the rebel alliance and traitors! transshork-happy

you are viewing a single comment's thread
view the rest of the comments
[-] Sinister@hexbear.net 31 points 1 year ago* (last edited 1 year ago)

The UK basically loaned out its empire to the US, this happened during both world wars. I think South Africa even wanted to switch to the dollar?

[-] FuckyWucky@hexbear.net 30 points 1 year ago* (last edited 1 year ago)

yea they don't realise everything was pegged to the dollar under Bretton Woods

Keynes' proposals would have established a world reserve currency (which he thought might be called "bancor") administered by a central bank vested with the power to create money and with the authority to take actions on a much larger scale.

In the case of balance of payments imbalances, Keynes recommended that both debtors and creditors should change their policies. As outlined by Keynes, countries with payment surpluses should increase their imports from the deficit countries, build factories in debtor nations, or donate to them—and thereby create a foreign trade equilibrium.[15] Thus, Keynes was sensitive to the problem that placing too much of the burden on the deficit country would be deflationary.

But the United States, as a likely creditor nation, and eager to take on the role of the world's economic powerhouse, used White's plan but targeted many of Keynes's concerns. White saw a role for global intervention in an imbalance only when it was caused by currency speculation.

Although a compromise was reached on some points, because of the overwhelming economic and military power of the United States the participants at Bretton Woods largely agreed on White's plan. White’s plan was designed not merely to secure the rise and world economic domination of the United States, but to ensure that as the outgoing superpower Britain would be shuffled even further from centre stage.[34]

this post was submitted on 06 Sep 2023
174 points (100.0% liked)

the_dunk_tank

15911 readers
600 users here now

It's the dunk tank.

This is where you come to post big-brained hot takes by chuds, libs, or even fellow leftists, and tear them to itty-bitty pieces with precision dunkstrikes.

Rule 1: All posts must include links to the subject matter, and no identifying information should be redacted.

Rule 2: If your source is a reactionary website, please use archive.is instead of linking directly.

Rule 3: No sectarianism.

Rule 4: TERF/SWERFs Not Welcome

Rule 5: No ableism of any kind (that includes stuff like libt*rd)

Rule 6: Do not post fellow hexbears.

Rule 7: Do not individually target other instances' admins or moderators.

Rule 8: The subject of a post cannot be low hanging fruit, that is comments/posts made by a private person that have low amount of upvotes/likes/views. Comments/Posts made on other instances that are accessible from hexbear are an exception to this. Posts that do not meet this requirement can be posted to !shitreactionariessay@lemmygrad.ml

Rule 9: if you post ironic rage bait im going to make a personal visit to your house to make sure you never make this mistake again

founded 4 years ago
MODERATORS