The greatest threat to dollar primacy is not foreign rivals but domestic populists, fighting the wrong battle with the wrong weapons
The dollar’s dominance as a reserve currency magnifies financial power, but it does so by shifting the balance of the economy away from production toward paper. As America’s productive base gradually and unevenly hollows out, its national cohesion and material prowess, two central pillars of power, begin to erode.
Over time, the corrosive forces seep into politics, rising from the grassroots to the national stage. In the end, the greatest danger to the dollar-based global order may be the American voters who must…
Read the full article at RT.COM
