I agree, we’re just leading the pack in the downward race of debasing our national currencies. But there will be severe punishment to the USA for “winning” this race to the bottom, especially regarding the loss of dollar denomination of oil contracts. Once countries don’t need dollars to purchase oil, there will be no remaining floor under the dollar, and “watch out below!”
The buck is all about "liquidity".
Try selling anything on a foreign exchange in 5 seconds let alone commodities.
yitbos