yaddas on Nostr: i mean, technically it worked in the 80's when japan was outcompeting US goods, the ...
i mean, technically it worked in the 80's when japan was outcompeting US goods, the US forced japan, france & germany to devalue the dollar relative to their currencies which created a bubble economy for all of their economies except the US. the plaza accords singlehandedly created the lost decades for japan.
china didnt want to follow in japan's footsteps, which is why china is trying to "dedollarize," expand bilateral trade from the "hard money" area of the US dollar with dollar denominated debt. that will help countries escape with their own sovereign currencies so they dont have to keep begging the world bank for international development loans & get cut off from trade if they step out of line, or beg the IMF to impose capital controls instead of letting capital flight hollow out their country, because the main goal of the financial institutions is to recycle dollars into US treasury bonds & IOUs since that is what finances US military encirclement.
the 3 most traded commodities globally is drugs, guns, & oil & the US wants to maintain its monopoly on all 3 of these sectors.
china didnt want to follow in japan's footsteps, which is why china is trying to "dedollarize," expand bilateral trade from the "hard money" area of the US dollar with dollar denominated debt. that will help countries escape with their own sovereign currencies so they dont have to keep begging the world bank for international development loans & get cut off from trade if they step out of line, or beg the IMF to impose capital controls instead of letting capital flight hollow out their country, because the main goal of the financial institutions is to recycle dollars into US treasury bonds & IOUs since that is what finances US military encirclement.
the 3 most traded commodities globally is drugs, guns, & oil & the US wants to maintain its monopoly on all 3 of these sectors.