Exorbitant Privilege: The Rise and Fall of the Dollar
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@jrm21386 The Euro Will not exist in 10 years, not be a major currency.
melnick1985 2 months ago
@capricioussole The Euro Will not exist in 10 years, not be a major currency.
melnick1985 2 months ago
And besides, political domination, requires the maintenance of economic control, should the dollar fall as world reserve currency, relative and absolute measures of political power, thus control will accelerate in their decline, and being that there is no other market to replace the U.S. market, absolute measures of world power will decline as well.
capricioussole 8 months ago
Him saying the US only represents 20% of the world Economy isn't exactly correct. According to the World Bank, the US represents about 24% of the world Economy. It's almost a no-brainer that the US dollar is still the dominant currency. States will always access to the world largest market and to do that you need the worlds dominant currency to conduct transactions.
jrm21386 11 months ago