[seydor]

I wonder to what extent the Ukraine war partly an attempt to break this remarkable reserve-monopoly that the US has acquired since the 90s. Using its global projection of military power, the US has managed to open up and secure world trade to the entire rich world, and in the process made the USD indispensable. The US can keep printing for decades , and the USD is not getting debased. People in tech startups are aware of the advantages of low interest rates, being awash with money and using it to outcompete every threat. Not only that created monopolies, but easy capital made US tech cities the default and mandatory destination for entrepreneurs from all over the world, which has added quite a few trillion to the US economy. The US enjoys the privilege of being the last empire in a post-empire world and maybe military action is a desperate attempt to change that. Maybe it even contributed to the rates rise