No country other than the US could cope with a currency burdened by a $500 billion deficit and skyrocketing international debt. Instead of rising up and plunging the country into chaos, the American public goes about its daily business, and calm is maintained in the boardrooms.
Whether it soars or plummets – somehow the dollar’s antics always seem to have a negative impact on others. This exorbitant privilege of passing on its debts to others stems from the fact that, since the post-war period, the dollar has developed into the international currency. It is hardly ever questioned. The dollar is thus the ultimate symbol of the US’s economic strength, imperialism and supremacy. The only question is: will it stay that way? Or are we currently at the end of an era?
