>Billions of people who are not part of these alliances are left out and the rest are reliant on US/Europe remaining leading superpowers forever, those in power not developing a grudge against one's business and status quo enforced through military violence.
The claim that the only reason the US dollar is the reserve currency of the world is because the US military would invade anyone who uses something else is so often repeated on HN and reddit that is has become canon.
It would be interesting to read something that goes deeper into that topic.
In the mean time someone should tell European pension funds that they should not be betting what amounts to the combined GDP of several nations on just the S&P500.
> The claim that the only reason the US dollar is the reserve currency of the world is because the US military would invade anyone who uses something else is so often repeated on HN and reddit that is has become canon.
No, it isn’t. Nobody said this, certainly not GP.
What is canon is that US military might gives its economy a level of stability not enjoyed by any other country, and when combined with the size of the economy, makes the dollar an important asset for nearly everyone.
Most countries in the world don’t use the dollar, and yet the dollar remains hugely important to those economies. Who is suggesting the US is going to invade those countries?
US military would move against agents who disturbs free trade between willing participants, in circumstances where US itself is not trying to restrict free trade with sanctions. More or less, also not saying it's always a negative, just that it doesn't cover everyone's needs and is not guaranteed to do so for eternity.
The claim that the only reason the US dollar is the reserve currency of the world is because the US military would invade anyone who uses something else is so often repeated on HN and reddit that is has become canon.
It would be interesting to read something that goes deeper into that topic.
In the mean time someone should tell European pension funds that they should not be betting what amounts to the combined GDP of several nations on just the S&P500.