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RE: Crash of Dollar is Imminent ~ Yale Economist Stephen Roach … (Death of the Dollar–31) with Link to Full Story
Talking about "exorbitant privilege" , I think the US have actually earned the privilege, even though it's a bit exorbitant to be frank, but they have led the new age revolution to an tangible extent so it is thoughtful that their currency is the global leading currency. death of dollar is still far away though.
I disagree. Nobody and no country should ever have the "exorbitant privilege" to print currency at will. Particularly when that puts other nations at a disadvantage.
Well, most (if not every) countries print currency at will. It's sad but the fiat scheme isn't a democratic stuff
Yes, since Nixon ended the Bretton Woods system in 1971, all countries can print currencies at will. Even under that system, the US had "exorbitant privilege." To a great extent, it has retained that privilege.