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> ”This means giving up all the advantages of central banking … It's a marker of a failed state.” There are a number of countries/territories which have their

> ”This means giving up all the advantages of central banking … It's a marker of a failed state.” There are a number of countries/territories which have their “own” currency, but its value (exchange rate) is fixed directly to the USD: • Hong Kong • Saudi Arabia • United Arab Emirates • Qatar • Jordan • Oman • Bahrain • Panama • etc These are not failed states!

1718627440 1mo ago
That's different from not having an own currency in use at all.
- philistine 1mo ago
  Not significantly. Your point that only failed states decide to use another nation's currency is automatically a failed state is simply untrue. It can be a marker, but it's not an automatic mark. Montenegro is not a failed state.
  - 1718627440 1mo ago
    > It can be a marker, but it's not [...] automatic Yeah, I think that is what it 'being a mark for ...' means. Otherwise it would be 'a property of ...' .