Obama is doing his best to ruin our military in many ways with gays, budget cuts etc.
Few know that our strong military that can project power thousands of miles is a major support of our US Dollars reserve currency status. One example. Japan keeps one trillion in US Treasuries as a way of payment to us backing them up against China with our nuclear umbrella etc. Of course under Hussein Ubungu Japan should worry if we will follow through in a crisis
Correct in all respects. For similar reasons, the Fed had to provide liquidity to support European central banks and financial institutions during the 2008 financial crisis. More so than any other country, the US has developed the institutions and expertise to run a reserve currency and to act intelligently in a major economic crisis. In a financial pinch, the world looks to and trusts the US for answers, rather like New York bankers once looked to J. P. Morgan to figure out how to settle markets when they panicked.