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wmj's avatar

The dollar’s dominance is *not* the result of American military strength. Other countries don’t use the dollar because we bully them into it. They do it because it in their own interest. Period.

The US provides an open capital account of enormous size and liquidity, stable legal system, and a vast export market. None of those things are dependent on empire. In fact, insofar as “retaining a market for our exports” was traditionally the reason for empire, we are actually providing an anti-empire.

I find all your arguments here unconvincing but if there is one stupid idea I wish I could extirpate forever from the right wing commentariat it’s the economically illiterate “hurr durr King Dollar because air craft carriers!!” nonsense.

Slade's avatar

In 2026 30 pieces of silver converts to $7,000 per article.

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