What is the secret behind US currency as common currency worldwide?
Eventhough we talk about recession and economic growth slow rate at US, still we are using US dollar as common currency worldwide. Why we are not using euro or Great Britain pound as common currency worldwide.
It WAS because of economic power following WWI and WWII. Now, military power. The US is technically bankrupt, but is itself "too big to fail". Other countries are trying to figure out how to get out of dependency on the U.S. dollar. But there aren't any good alternatives except one -- gold. But gold does not allow the masters of the various countries to manipulate their fiat money (funny money). So forget that.
As to your question about the Euro and British Pound: They are even worse than the dollar. It's much too complicated for here. See the Amazon book listings about the Federal Reserve and money at:
http://hubpages.com/hub/america-what-we … the-answer
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