Prof. Schlevogt’s Compass No. 40: The global reserve ratchet – How dollar rule locks trade deficits

Why supplying the world’s money pressures the US to import more than it exports, and why the imbalance is so hard to reverse “Money promises abundance, only to return want.” (The Author) In its disquieting force, this dictum cuts through the allure of monetary power to expose its central paradox: Abundance may broaden choice at […]