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Good discussion. Most American have no idea how we recolonized the world with our currency, nor how it is coming back to bite us. This "extraordinary privilege" of reserve status is both a blessing and a curse. Not to mention the various secret compacts such as the ill-fated petrodollar.

I was once up an extremely remote river. and the boatman, who spoke no English, still insisted on US dollars. That era is indeed ending, whether or not the boatman has a surveillance up-link.

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Greg Daneke, Emeritus Prof.
Greg Daneke, Emeritus Prof.

Written by Greg Daneke, Emeritus Prof.

Top Economics Writer, Gov. service, corp consulting, & faculty posts (e.g., Mich., Stanford, British Columbia). Piles of scholarly pubs & occasional diatribes.

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