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Oct 31Liked by Meyrick Chapman

Exorbitant privilege for who?

For the free traders and others deep in the state security apparatus to prosper. The other 80 percent or so have been left our of this great privilege.

Oh wait you mean i can have the privilege to go to Walmart and but cheap Asian goods. Yes I'm so lucky. The things we 80 or so percent have to give up so these guys can run the world thru dollar and oil/gas control.

The university economics departments should just admit it, they are not a science and just fold into the sociology department again like they used too,

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'Exorbitant privilege' was coined (pun intended) by Valery Giscard d'Estaing while French finance minister to describe the dominance of the dollar system and its attendant ability to raise international finance. That is what I focus on in all my posts - though often indirectly. There is no read-through to how that system distributes such benefits to US citizens, or not. Indeed, the need to run current account deficits prioritises debt of some sector over wealth creation.

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