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Like Ice Cream 8 months ago
Many attribute the blowout of the trade deficit to currency manipulation by third world countries, unfair trade practices, or exploitative labor practices- all of which are true, and definitely contribute to the deficit, but they don’t explain the whole picture. In fact, as the global monetary system becomes more and more unmoored to the fundamentals of hard money, it increasingly relies on liquidity, which in essence means dollar liquidity because the global economy runs on dollars.