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Isn’t destroying the dollars reserve currency status key to his stated goals? I thought that as long as dollars are the reserve currency, people will want them,
by LatteLazy 1y ago
Isn’t destroying the dollars reserve currency status key to his stated goals? I thought that as long as dollars are the reserve currency, people will want them, and trade goods and services for them just for the privilege of holding them.
So the US will never get manufacturing jobs back as every other country effectively insists on subsidising exports to the us to get the dollars they need for their reserves?
I am not commenting on whether this is true or a good idea etc. but ending the usd as a reserve currency is a key objective, not a risk that might occur unintended no?
- polotics 1y agomaybe lookup keywords "exorbitant privilege" and "seigniorage", losing reserve currency status does not help reindustrialization.
- actionfromafar 1y agoI think the exceptionalism is a too entrenched. All the world was giving US free money. When that music stops, it’s not going to be pretty.