The End of the Petrodollar?
Say
you’re an up-and-coming superpower wannabe with dreams of dominating
your neighbours and intimidating everyone else. Your ambition is
understandable; rising nations always join the “great game”, both for
their own enrichment and in defense against other big players.But if
you’re Russia or China, there’s something in your way: The old
superpower, the US, has the world’s reserve currency, which allows it to
run an untouchable military empire basically for free, simply by
creating otherwise-worthless pieces…Read more...
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