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Europe outsources defense to the US, but the prize for the US being a top military power is also having the top currency. Almost all world banks have to report

by dzink 5y ago

Europe outsources defense to the US, but the prize for the US being a top military power is also having the top currency. Almost all world banks have to report to US inquiries about account information, but no US bank has to do that for abroad. A dollar used as reserve currency worldwide means much higher value of US savings, real estate, stock market, in which any American can participate. Multiple military lead pretenders also eventually clash. Whenever the military is strong a leader who wants to remain in power has to abide by them and there is a risk of war. Those who have outsourced their military mostly to US in Europe have seen prosperity and peace and trade and social systems that would otherwise be a eaten by conflict in an area historically torn by it. Germany also outsources food to southern Europe (EU) and energy to Russia. No different than US states that choose to specialize and benefit from all the wealth generated by the entire union for anything they are not an expert in.

hef19898 5y ago
The US clearly are an outlier when it comes to military spending, and the European NATO memebrs did downsize their armies since the end of the cold war. Looking at this (https://cimsec.org/nato-defense-spending-past-present-part-1/ https://cimsec.org/nato-defense-spending-past-present-part-1...) shows a less clear cut picture so. Was the US the top military NATO spender? Yes. Was it also the biggest economic power? Yes. Did the other nations significantly under spend? No.
TMWNN 5y ago
>Europe outsources defense to the US, but the prize for the US being a top military power is also having the top currency. Almost all world banks have to report to US inquiries about account information, but no US bank has to do that for abroad. Europe's failure to spend sufficiently in its defense has absolutely nothing to do with the US dollar's role as the global reserve currency.

by dzink 5y ago

hef19898 5y ago

The US clearly are an outlier when it comes to military spending, and the European NATO memebrs did downsize their armies since the end of the cold war. Looking at this (https://cimsec.org/nato-defense-spending-past-present-part-1/ https://cimsec.org/nato-defense-spending-past-present-part-1...) shows a less clear cut picture so. Was the US the top military NATO spender? Yes. Was it also the biggest economic power? Yes. Did the other nations significantly under spend? No.

TMWNN 5y ago

>Europe outsources defense to the US, but the prize for the US being a top military power is also having the top currency. Almost all world banks have to report to US inquiries about account information, but no US bank has to do that for abroad. Europe's failure to spend sufficiently in its defense has absolutely nothing to do with the US dollar's role as the global reserve currency.