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To: Zhang Fei

Sorry, dear, but even if partially true, your post ignores some important aspects of the dollar as a reserve currency.

First, it allows feds to export inflation, hence ruble and rupee aren’t always in a good shape, and not because of the fact that their fiscal authorities are less disciplined than that of the US.

Second, dollar is indeed a yoke at this point. The weaponization of commerce by Congress makes literally anything else preferable to it as a tool of international commerce. Who wants to trade in dollars when they can be frozen in any given moment? The same is true regarding US-sourced goods and services.

There is a cost in having a reserve currency, true, but it is going to be much costlier to lose it.


28 posted on 08/28/2022 5:53:41 PM PDT by NorseViking
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To: NorseViking

[First, it allows feds to export inflation, hence ruble and rupee aren’t always in a good shape, and not because of the fact that their fiscal authorities are less disciplined than that of the US.]


The fact that the ruble and the rupee have fallen by over 90% against the dollar are the result of Uncle Sugar exporting inflation? Try again.


30 posted on 08/28/2022 6:02:06 PM PDT by Zhang Fei (My dad had a Delta 88. That was a car. It was like driving your living room)
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