Why the fuck are we still in Iraq......why are we still in Afghanistan?? Why are we still occupying the Middle East period..
Some economists like Michael Hudson argue that US military spending on its 800 bases around the world is almost entirely responsible for the balance of payments deficit, thereby gaining a "free lunch" by establishing the dollar as international reserve currency.
Dollar Recycling | Michael Hudson
"Ending the gold-exchange standard in 1971 created a situation in which the excess U.S. dollars thrown off by the U.S. payments deficit end up in foreign central banks.
"For these central banks, the inflow of surplus dollars poses the problem of what do we do with them.
"Central banks don’t buy stocks and bonds, or control of corporations, because that is risky and also does not directly help their own economy.
"So central banks buy US Treasury bonds and bills – IOUs of the U.S. Government.
"For the United States, the money that is spent on running a balance-of-payments deficit on military account and on American investors buying Chinese stocks and Chinese companies, dollars are recycled back to the United States to buy US Treasury bonds."
Is it possible that ending our eternal warfare state would also terminate the dollar as a global reserve currency?