I’m going to pass out! Finally somebody has a clue as to why the dollar is so widely used.
“Part of how we’ve managed to evade the consequence of our credit emission (called “money printing” but it isn’t) is through the “regularization” of nearly all international trade being denominated in US dollars. People like to call it “petrodollar” but that’s intentionally false; the dollarization of international trade is hardly limited to oil and its products, nor has it occurred due to some grand conspiracy.
In truth the reason for denominating international transactions in dollars over time has been simple: The United States has had a more-stable currency and a solid, operational exchange and clearing mechanism, both of which are very important when it comes to pricing out something that may be delivered a month — or six months — from now. Since international trade at industrial scale nearly always involves significant delays between the order and fulfilment (think the time to load and sail an oil tanker, or one full of grain) that stability is extremely valuable. The certainty of knowing you will get paid and being able to put boundaries on potential value changes in that price over time is why the dollar has become the standard for international trade. It is no more complicated than that
The complication comes when sociopathic TechnoClown International Bullies can shut off access to your dollar assets in the blink of an eye...