Topic: The reserve currency status allowed the US to export its inflation to everyone else, now its gone.
Anonymous A started this discussion 2 years ago #110,200
Everyone needed dollars for paying debts and international trade, so everyone stocked up which increased demand.The US could run the printers full speed, and the people holding USD and taking the hit were almost always not americans.
The reserve currency status is the ultimate symbol of hegemony for this reason. It's a free money cheat that the top dog gets to use.
But now OPEC countries aren't selling in dollars anymore, and most major economies have suddenly stopped trading in dollars if its not directly with the US.
So the 0% interest and using the fed to buy up junk to inject cash into the american economy is over.
What happens when a country used to money-for-nothing suddenly has to work for a fraction of what they used to get for free?
squeegee joined in and replied with this 2 years ago, 4 hours later[^] [v] #1,227,778
oh, we'll start lobbing nukes around, don't think you're out from under the thumb of any hedgemony. it's OPEC. they're first on the short list