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> The United States was never an empire. In fact the US rejected that ambition at the end of WWII The US rejected imperialism but insisted on global reserve cu
by krona 4y ago
> The United States was never an empire. In fact the US rejected that ambition at the end of WWII
The US rejected imperialism but insisted on global reserve currency status in 1944. Bretton Woods and later the petrodollar is how the US can benefit from a consistent trade deficit and its Navy is how the system is enforced. (see what happens to countries that think otherwise over the past 50 years).
- jcranmer 4y ago> (see what happens to countries that think otherwise over the past 50 years). Nothing? Because none of the wars that the US has been involved with in the past 50 years has involved a country that took any steps to avoiding the use of dollar in international trade [1]. And several countries have taken such steps without much reaction from the US. Why the hell does this canard keep living on? [1] Well, okay, you might count the Russian invasion of Ukraine as a US-involved war. But an exemplar of the supposed US penchant for invading countries that dare thumb its nose at its hegemony it is very much not.
- mlindner 4y agoBretton Woods was financially damaging to the US economy, not beneficial. That's why we ended it. Bretton Woods was set up to help repair Europe by subsidizing it with US market access. Further the safety of the world's oceans were also subsidized by US Navy protection. The entire point was to create a system to defend against the Soviets effectively by bribery via the US economy.