It's the GBP/USD exchange rate from 1915 to the present day. Accompanying this chart on Twitter was the comment "quite shocking though how much the pound has been devalued since 1945".
This is a fine example of the way in which economic indicators can be misinterpreted when the historical narrative underlying them is ignored. What this chart shows is indeed shocking, but not because the value of the pound has fallen. It is shocking because it graphically depicts the decline of British global influence. And it charts the desperate attempts of British politicians to maintain global dominance by propping up the value of the currency.
The start point of this graph - 1915 - was during the First World War and immediately after the failure of th...
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Frances Coppola, a former banker, is a writer, singer and twitterer extraordinaire. Coppola Comment is her main blog, which started out as a place where she could ramble on about anything that interested her. These days the posts on the site are entirely about matters financial and economic. She does not talk about her personal life or beliefs unless they are relevant to a financial or economic matter. Frances is politically non-aligned and economically neutral (She does not regard herself as "belonging" to any particular school of economics). And she does not give investment advice.