I continue to read The Great Transformation: The Political and Economic Origins of Our Time and this is one subject that it deals with - International Finance in the Nineteenth Century. in Europe.
It made me consider this in my context - the role of the Dollar and the Colone in Costa Rica, where I live. The Colone is the official currency of Costa Rica, and it is managed by the Banco National, that does a fairly good job of letting Tico businesses pay for their local expenses in Colones - and. at the same time, buy and sell in the American market - in Dollars. Quite a trick.
Costa Rica has always recognized its Big Brother to the North - and has taken care to stay on good terms with it. Other countries in Central America have been more combative, and been invaded, as a result. With disastrous results to their economies.
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