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An arcane but significant outcome of the diminishment of the dollar having the major role in international trade is captured in the notion of the “Triffin Dilemma”. Triffin was the economist who pointed out that reserve currency status required the country whose currency fulfilled that role to provide the money supply for international trade. So, we ran trade deficits meaning that we bought more from foreign countries than they did from us - thus, they were net recipients of dollars. They banked these dollars in their central banks where they were invested in US Treasury securities. Several aspects of this are significant: first, creating this exported money created Federal debt as well as purchasers of this debt, and second it was in a sense a free ride for the American economy in that we did not have to produce anything in exchange for export - just “print” money. Adjusting to these changes will require a period of hardship. My guess is fifteen years. Unfortunately, our society and culture has been de-conditoned for the task. We will have a reset, although, hopefully, not one of Klaus Schwab’s design.

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The U.S. Government dos not pay attention to the leading global & local intellect of the Financial world . Iran & Libya , are two examples .Libya was destroyed by GWB during the attack on Iraq. Iran is surviving ,it is the last ? country to fully manage their own currency ; They have their own Banks ,Gold ,etc. Thank God that Ms. Brown is fighting for the "little people ," and Public Banking .Her books should be included in the curriculum of all Financial teachings .

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Thank you for laying out the fiscal consequences of the madness in Ukraine. I knew that Russia and the CCP had been seeking to undermine the dollar for some time, but was completely unaware of the lengths to which Russia has gone in the past two months.

Thanks to our utterly incompetent leaders, Russia has been pushed into China's arms due to the idiocy of demanding that Ukrainian membership in the EU and NATO remain on the table. That idiocy by repeat failures such as Blinken, Nuland and Sullivan have created a nightmare scenario where the genocidal CCP is allowed more freedom to expand it's influence and control. Compared to containing the CCP, courting Russia supersedes friendship with the 'original six' EU members.

This is a mess for all those who wish to contain evil, and one which the US fiscal sector plays no small role exasperating due to the nonstop printing of money to pay for current programs we can not afford and even to pay for proposed additional ones. It seems the idiots are at the helm in the US and have been for two decades, all as someone with intellect climbs to the top of the Russian fiscal system.

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