We are experiencing an extremely rare turning point in world history: The US dollar, which has dominated the course of the world for more than six decades, will lose its position as world key currency.
This fundamental change of the world monetary order can be compared to the situation of 1931, when the British Pound – then world currency – finally collapsed in the aftermath of the stock market crash of 1929, thereby aggravating the very unstable situation the world already was in.
But what’s next? And why should we care and get involved?
We must get involved, because the next world monetary order will set the possibilities for the future development of our world just as much as the U.S. dollar had dominated our past.
Depending on the design of that future order, we will either be able to tackle the global issues at hand or be prone to fail.
Therefore we must assure that the decision on the future monetary order is not taken behind closed doors – benefiting only partial interest groups – but with the involvement of the civil society.
And keep in mind: we might have to wait 100 years to get another opportunity to redesign the world monetary order.
But – in order to participate in that change – we need to understand the topic in order to develop our vision for a better future. So please get involved and start reading now!