Blitzkrieg!

“A U.S. dollar is an IOU from the Federal Reserve Bank. It's a promissory note that doesn't actually promise anything. It's not backed by gold or silver.” - P.J.O’Rourke

History is testimony to the fact that the reserve currency is dominated by empires that rule vast swaths of territory and dominate international trade. The supremacy of the world’s reserve currency depends on the military clout, ownership of bullion/reserves, abundant commodities/ natural resources, technological advancement and the volume of international trade. So let us understand briefly how the global reserve currencies changed hands in the last six centuries!

Source: Reddit

The reserve currency emerged from the Portuguese in the 1450s, who were the first to establish an authoritative navy and navigate the globe. The next reserve currency was the Spanish Dollar which attained prominence after the Spanish mined th…