Written By Basilio Chen

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The reserve currency timeline starting from Portugal shows how the financial riches of the dominant Empire, attributed to their respective currency to be classified “Reserve Status”.

Portugal and Spain – the First Global Superpower

Portugal was the first ever country to achieve global reached.  Prior to that everything else was rather localized.  (China and India were in parallel path as they each had continuous vast large land, something that none other had.  Europe was made up of small countries and Africa and America were undiscovered). 

With Portugal, it became short-lived when the head of state (King) died without heir and the Spanish King became the King of Portugal and simultaneously of Spain combining both empires (Philip II of Spain who became Philip I of Portugal).  So by 1520’s, Spain economy grew and reached with the discovery of Americas (by Columbus under protection of Spain monarch, Ferdinand and Isabella) plus Africa, the status of super power and global empire in the 16th Century