Bullshit. Your blame America first knee jerk is stupid and lazy and unsupported.
America is the biggest threat to global security today and millions of its victims from Korea to Kandahar are proof of that. You swallow "American Exceptionalism" without giving a single critical thought to how many innocent human beings are currently suffering to support your ignorance.
Dollar Recycling | Michael Hudson
"The U.S. strategy is to control of your economy in order to force you to sell your most profitable industrial sectors to US investors, to force you to invest in your industry only by borrowing from the United States.
"So the question is, how do China, Russia, Iran and other countries break free of this U.S. dollarization strategy?
"As now constituted, dollarization creates a circular flow that finances American military spending by forcing the costs onto foreign central banks holding dollar."
"So the question is, how do China, Russia, Iran and other countries break free of this U.S. dollarization strategy?
They should use Euros or Yen or Pounds or Swiss Francs.
"As now constituted, dollarization creates a circular flow that finances American military spending by forcing the costs onto foreign central banks holding dollar."
No one forces foreign central banks to hold dollars.
Holding dollars doesn't force foreigners to finance the US military.
Even Marxist economists should know that.
The U.S. strategy is to control of your economy in order to force you to sell your most profitable industrial sectors to US investors
No one is forced to sell anything to US investors.
to force you to invest in your industry only by borrowing from the United States.
Ummm.....if the foreigners are already "forced" to hold US dollars (to lend to us), why do they also need to borrow from the US? They've already got piles of their own dollars.
I didn't think it was possible, but Michael Hudson might even be dumber than you, George.