I think you missed the part where US fiat currency was being held by almost all nations as the reserve currency there by exporting US inflation to the rest of the world. Over the last 5 or 6 decades the US could print as much as it wanted while maintaining low inflation at home as the reserve currency. Many times massive printing in the US resulted in a stronger dollar as it devalued the local currency of those nations holding dollars. It was truly a masterful move to export our inflation. That game is nearly over with now as American politicians and power brokers are so arrogant they think they can rule the world through the dollar.
Yes, I was limiting my observation to the general fate of empires. I left a number of things out. My view sort of follows that of Paul Kennedy, an actual scholar. It is certainly noticeable that of the modern states who followed the imperial path, most came to moral and physical bankruptcy if not utter ruin and destruction. As for the United States, I said something like "We can now almost write the history of the future." The longer the downfall is held off, the more severe it will be.
I think you missed the part where US fiat currency was being held by almost all nations as the reserve currency there by exporting US inflation to the rest of the world. Over the last 5 or 6 decades the US could print as much as it wanted while maintaining low inflation at home as the reserve currency. Many times massive printing in the US resulted in a stronger dollar as it devalued the local currency of those nations holding dollars. It was truly a masterful move to export our inflation. That game is nearly over with now as American politicians and power brokers are so arrogant they think they can rule the world through the dollar.
Yes, I was limiting my observation to the general fate of empires. I left a number of things out. My view sort of follows that of Paul Kennedy, an actual scholar. It is certainly noticeable that of the modern states who followed the imperial path, most came to moral and physical bankruptcy if not utter ruin and destruction. As for the United States, I said something like "We can now almost write the history of the future." The longer the downfall is held off, the more severe it will be.