6min chapter

Hidden Forces cover image

The Threats to US Dollar Hegemony | Daniel McDowell

Hidden Forces

CHAPTER

The Role of the Dollar in US Power

Daniel Altschuler: How does this system work in such a way so that the United States government has been able to use it as a geopolitical weapon and as a tool for statecraft? He says most big banks, even the big European banks and offshore banks that hold dollars are still subject to that US law. A lot of this links back to the infrastructure, the network that puts the U.S., he says. The ability to use financial sanctions as a coercive tool.

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