[magicfractal]

As long as US imperialism exists, the US dollar will be reserve currency and the US will be able to print away problems. This is the exorbitant privilege the US has which is effectively extracting tribute from all international transactions in dollar.

[mannyv]

The dollar is the reserve currency because there are no viable alternatives.

It’s not about imperialism or hegemony, which are fashionable reasons used by the poor. It’s literally because there are no alternatives.

The US also is in the unique position of stabilizing the entire world financial system, something it does on an occasional basis. I’m not sure you understand what the price of financial chaos is, but it generally involves massive amounts of human suffering.

As an aside, imperialism is generally better than anarchy. Ask Libyans and Somalians how anarchy is working out for them.

[arresin]

But would the US go after a country that wanted to trade in another currency? I don’t see that happening tbh.

[ta1243]

Some completely unrelated information, Iraq moved to using the Euro to sell oil in November 2000 https://www.rferl.org/a/1095057.html

[ngetchell]

Saddam moved Iraq over to the Euro and we invaded shortly after. Maybe a coincidence. Maybe a piece of straw that went on to break the camels back.