For the United States government, there is nothing more important in this world right now than to maintain having the world’s reserve currency. Having the reserve currency allows the US to deal with all sorts of problems. It also allows the US to deal with its problems without having virtually any discipline as to what we do. We can just print our way out of things. But it’s become clear in recent years that this is something we can no longer take for granted.
It’s one thing to manipulate gold or a general stock market, but these are not the trillions-of-dollars-a-day markets that foreign currencies are. So I want to be clear about this: There is nothing the US will stop at to ensure that the dollar is the world’s safe haven and reserve currency.
I believe there is a very strong argument that we are doing…
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