The author of the meme above is kinda, more-or-less, give-or-take, something like almost on the right track, but misunderstands how some of the details affect one another.
The very first sentence is wrong because of a failure of language, and this problem continues throughout the piece, compounding when the author simply has the wrong idea about things.
I have read enough of this to recommend that others ignore it. The author has a realization that things aren’t right, a general idea of some reasons that might explain it, but is very wrong about many specifics which lead to confusion.
One thing that the author realizes is very important somehow is the rise, growth and significance of the PetroD0llar. Through military and other agreements with the world’s largest oil producers, the US managed to convince them to accept only US D0llars for the purchase of oil. This very soon forced everyone to use USD in oil trade, and soon led to everyone using USD0llars in international trade of everything.
The overwhelmingly important effect has been to sustain the US D0llar as the world’s reserve currency. By coercing the whole world to use D0llars for almost all trade outside their own countries, a gigantic “float” of D0llars held outside the US developed. When someone in Holland wanted to purchase a container of flower pots from Zimbabwe, USD0llars were used ( still are mostly, but becoming less and less often.) This massive stock of off-shore D0llars prevented the ordinary effect that monetary inflation (increased supply of a currency) has on currencies, price inflation at home, because so much of the new money never made it home but remained abroad in trade, investment and savings.
The effect of this has been to allow the US to create d0llars that cost the US very little, and use them in trade at their contemporaneous “value” (purchasing power.) Easy to imagine how it would benefit you if you were able to print your own money and other people would have to use it. Everything you gained from that process would represent a loss by someone else.
An aside, “BRICS” — the international trade association/combine of Brazil, Russia India, China and South Africa — is working on a plan to create their own international currency whose value is expected to be based upon a “basket” of proportional amounts each of their countries’ currencies. (Saudi Arabia, Turkey and Egypt allegedly plan to join. If Saudi Arabia joins, and the BRICS international currency comes about, goodbye USD0llar, IMO.)
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