However, if the intention is to dominate the world, then you require ever-growing deficits (to run wars and psyops around the world - like vietnam war, korean war, the original New Deal, socialist agenda, welfare state etc etc). And if you require ever-growing deficits, you then require control of a world reserve currency - a malign one, one that is FIAT.
You also forget the Cantillon effect which is something to keep in mind as well once you become the world reserve currency.
The labor in the country that issues the new world reserve currency immediately becomes the most expensive labor. This creates a demand for foreign trade.
How The Cantillon Effect Kills The Economy | Uneducated Economist
However, if the intention is to dominate the world, then you require ever-growing deficits (to run wars and psyops around the world - like vietnam war, korean war, the original New Deal, socialist agenda, welfare state etc etc). And if you require ever-growing deficits, you then require control of a world reserve currency - a malign one, one that is FIAT.
You also forget the Cantillon effect which is something to keep in mind as well once you become the world reserve currency.
The labor in that country that issues the world reserve currency immediately becomes the most expensive labor. This creates a demand for foreign trade.
How The Cantillon Effect Kills The Economy | Uneducated Economist