Nov 24, 2020
I still don't see the problem.
The article is trying to assert a problem that doesn't really exist.
Trade deficits are also an issue overblown for political reasons, IMO.
The USA would still be a defacto currency even if we didn't prop up the gulf states
The fact that DeGaulle would try to undermine us based on gold is exactly a reason to NOT have a gold standard. That and the fact that under a gold standard the economy cannot grow because the money supply gets tight.