Why Do We Need a Reserve Currency?

I find myself asking, this is a standard habit of mine where I ask seemingly stupid questions for which I get seemingly stupider answers out of people who ought to know better. Some would say Argentina, I go, they defaulted six times. And they'd say, by my German ego, they didn't get them out of anything. It turns out if you look at Canada, it's not about inflation, there wasn't much inflation. But in the 90s, they kind of got up to their estimate and they kind of blocked and tackled their way out with a lot of resource sales and things like that. The favorite that comes up is the post war US when real rates were