No, being the dominant reserve currency doesn’t come with the unique ability to run a trade deficit. It does create network effects, but those are not fully - or even meaningfully - captured by U.S. interests. Dollar dominance is not the big deal we think it is

For all those saying the banking system is just a giant ponzi, ponder this quote from Byrne Hobart of The Diff. Think long and hard about where we’d be as a society without credit creation through fractional reserve, despite its challenges