Bouvard on Reserve Currency and Democratic Exclusion

Both sides in the dollar as global reserve currency debate insist (rightly) on the urgency of the question without mentioning that this existential issue has never been a subject of any democratic or public debate; nor is that likely to change. A reminder that the most important

questions are kept far away from any mechanisms of "accountability" (even if effects of such decisions register) and this sequestering discreetly goes unmentioned by all involved. My observation of this fact should not be taken as a a critical one.

@truepeers Did it come up in his re-election campaign? I don't know but I would guess marginally, at best.

@truepeers Rather elevated circles--not exactly "democratic."

@truepeers So, all anyone cared about is that inflation was stifled and the economy juiced--not how, or with what future consequences. McGovern presumably didn't make returing to the gold standard a point in his platform.

@truepeers Exactly--"difficult to translate." It hasn't gotten easier.

@truepeers Still, I'd love to see them try.

@truepeers Yes, back in the 19th century in the US currency was a live issue.

@goodalexander Perhaps refusal to do so.