USD is extremely important internationally. The ability to exchange it freely is part of why it’s important. This does not mean that the $5T per day of FX outw

USD is extremely important internationally. The ability to exchange it freely is part of why it’s important. This does not mean that the $5T per day of FX outweighs the actual commerce in determining the value of the dollar. (I’m not interested in the “lack of understanding” game.)