The U.S. can settle its debts and get its own house in order, but that would cause world trade to contract. A substitute global reserve currency is needed to fuel the global economy while the U.S. solves its debt problems.
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As was the case with the now hobbled U.S. banking system, the dollar's fortunes have long depended on the confidence of others.
We must grow the economy by empowering the private sector. I would have hoped by now we learned that inflation doesn't solve anything.
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