travkohn on Nostr: Post Bretton Woods, the US has become and empire and essentially created financial ...

Post Bretton Woods, the US has become and empire and essentially created financial colonies in most of the third world by forcing them to use US dollars these counties subordinate their economies to support the value of the US dollar allowing America to borrow and spend recklessly without immediate consequence.
By using USDs, these foreigns are routed through the US banking system and subject to US foreign policy even policies that are not supported by the United Nations.

The US can essentially extend its jurisdiction over much of the global economy and cut off trade for those countries who protest.
But this power comes with a cost.
By exporting jobs, wages deflate across the US and wealth inequality worsens. Political polarization quickly follows along with the destabilization and corruption of institutions. The system requires ever increasing flows of dollars to satisfy demand and the FED will be forced to respond with a river of fresh greenbacks. Inflation that the US has now exported is a latent risk in the form of treasuries held by foreigners.