Dude’s an ultra
Bonus: https://nitter.net/uncle_authority/status/1721967810241335347#m
I guess the Deprogram guys are the Three Stooges now? But the joke doesn’t really work
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this is pretty deeply misleading. dollar demand from other countries (the petrodollar, china being developmentally chained to the us, etc) props up the exchange rate of the dollar and therefore also limits inflationary pressure on imports. the upshot is that fed can print money to cover fiscal deficits or stabilize the domestic economy w/ qe without worrying so much about inflation hurting americans because it's distributed across the entire world while the benefits are only realized here. there's only so much productive capacity to draw on and dollar hegemony allows the us to effectively shift its spending abroad and its concentration of wealth at home. e.g.:
some domestic owners of the dollar may see higher wages but the trillions of dollars of t-bonds and hard currency held by china, japan, latin america, and the arab world see only devaluation