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I think the petrodollar has been given more weight than it deserves. The dollar's utility enabling international trade has more to do with the stability, freedom and general availability, than with the US enforcing it in any way.


The US spends more on its military than any other country, and actively gets involved in foreign affairs on this front constantly.

And has bases in every country in the Middle East except Iran - [https://en.m.wikipedia.org/wiki/List_of_American_military_in...]

The dollar is strong because the US military is everywhere. The US military is everywhere because the dollar is strong.

And oil is the strongest and biggest motivation for all this, but not the only one.

Though the US military burns massive amounts of oil to operate.


Not quite. You should look, for example, into the events of 1971, specifically, US policy regarding foreign exchange rates. Using dominant US dollar position, the US has achieved re-evaluation of exchange rates favoring US exports. As a concrete example, US Treasury Secretary drove the pressure to open European agriculture markets to US exports, weakening European farming industry in the process. Similar moves were made against Japan and South Korea.




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