E.T.’s Reviews > The Dollar Trap: How the U.S. Dollar Tightened Its Grip on Global Finance > Status Update
E.T.
is 35% done
the U.S. government partially defaulted on the war bonds it issued during World War I. Clearly, financial markets’ memory does not go back too far, and U.S. government bonds are now considered among the safest investments.
— Jun 07, 2022 07:11PM
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E.T.’s Previous Updates
E.T.
is 10% done
the dollar remains the preferred refuge from troubled financial markets, even if its home country is the source of those troubles. This seems a curious situation given the long-held view that the U.S. has relied on the generosity of foreign investors to finance its high consumption levels. The reliance on foreign capital ought to make the U.S. vulnerable rather than being seen as a haven of safety.
— May 28, 2022 07:51PM
