AARON CLAREY explains what it means for the U.S. dollar to be a “world reserve currency.”
Not only do we get to buy everything in the world, but nearly all of our financial sins are bought and paid for by the work and toil of others.
Consider two countries – Greece and the United States.
Both have unsupportable debts.
Both run chronic deficits.
Both have increasingly lazy and slothful people.
Both support their parasites over their producers.
And both are headed up by spoiled socialist children incomprehensibly ignorant of economics.So how is it Greece is going through tumult and chaos, while the US is enjoying is getting away scot-free?
Well, perhaps a chart will help.