The Dollarization Dilemma

The U.S. government has been able to expand way beyond its means for over century. In one of history’s greatest ironies, the government in the “land of the free,” turned itself into the biggest government in the history of the world. This was largely possible because other nations have used the U.S. dollar (often reluctantly) as a reserve currency. That reluctance has turned to outright rejection. De-dollarization has become a significant trend against the globe-trotting U.S. government.