[rogersmith]

" a government has a large amount of power to dictate money flows within the country, but very little power to compel terms of trade overseas."

Isn't the petrodollar system precisely the historical exception that allows the USA to have a lot of power when it comes to "compel terms of trade overseas"?

edit: obviously the other side of that ability to "compel terms of trade overseas" being the US formidable military power that allows them to further twist other countries arms when they refuse to play by the petrodollar system rules (see Libya, Iraq, etc)