MikeCristo8
@MikeCristo8
When the U.S. used to import from poor countries. The U.S. paid in dollars. The poor countries would then take those dollars and buy U.S. treasury bonds. The exchange rate between a poor country’s currency and the dollar is what allowed the U.S. Treasury to recycle (print) more dollars.
To fund U.S. financial assets. The financial scam of the dollar (by the U.S. Treasury) forced poor countries to buy even more dollars.
This is how the IMF debt cycle is born.
With the end of the petrodollar system. You tell me which BRICS countries are holding dollar reserves?
Also, BRICS countries are not selling bonds. So there is no need to hold dollars for a bond sale.
