Bancor to replace the world’s reserve currency?

Richard Murphy (Emeritus Professor of Accounting Practice, Sheffield University, UK) has an interesting take on the state of the world’s reserve currency. The once almighty USD is in serious trouble and as such, suggests now is a good time to revisit “bancor”.

A recap re Bancor.
Back in the WWII period, the world had a chance to adopt Bancor, a Lord Keynes proposal for a neutral, international trade settlement system a clearing house that was only for trade between countries. Bancor was not chosen (thanks to USA pressure) and Bretton-Woods won out. In turn Bretton-Woods also lost out when Nixon unlinked the USD from the backing of physical gold.
I was surprised to learn that back then, the USA held approx. 75% of the worlds gold.

As per this Professor Murphy’s recent YT vid, he neatly ties the current economic trade, political and social world wide “woes” together, succintly weaving how the USD became the world’s reserve currency, what’s transpired since to its state of play now.

I agree that clearly, trust in the USD is at an all time low, same as trust in the US executive is at an all time low. Thus this lack of trust in the USD, as we’ve seen, has helped the price of gold.

Richard concludes that the current reserve currency is failing to handle the stresses of instability between countries running surpluses and those running deficits hence, the system is broken and needs to change. He also mentions that Climate Change “could” be factored into the Bancor system of international trade.
Could this be that Big Reset one hears about?

Found this vid to be very informative and thought provoking.