The Lawfare Podcast

Lawfare Archive: Weaponizing the Dollar with Saleha Mohsin

Apr 5, 2025

Saleha Mohsin, Bloomberg reporter and author of "Paper Soldiers," discusses the dollar's evolution into a weapon of U.S. foreign policy since WWII. She highlights the ramifications of economic sanctions and the ongoing geopolitical shifts that affect global power dynamics. Mohsin explores the complexities of a strong dollar on the U.S. economy, its contrast with China’s long-term strategies, and how the weaponization of currency impacts American democracy and international economic relations.

54:04

Creator website

Episode guests

Saleha Mohsin

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

The U.S. dollar's role as a primary reserve currency has allowed policymakers to leverage economic sanctions effectively in foreign relations.

Weaponizing the dollar has complicated domestic economic stability, adversely affecting manufacturing sectors and job markets in the U.S.

Deep dives

The Dollar as a Global Power Tool

Since World War II, the U.S. dollar has played a crucial role in shaping the global economy and has been strategically used as a tool of economic and political power. U.S. policymakers have weaponized the dollar through sanctions, effectively cutting off access to malign actors and countries that threaten U.S. national security interests. However, this strategy has proven to be a double-edged sword, as it impacts not only foreign relations but also the domestic economy. The long-term implications of this weaponization of the dollar are far-reaching, affecting everything from currency stabilization to job markets within the U.S.

Intro

2min

The Power of the U.S. Dollar

20min

The Strong Dollar Dilemma

9min

Contrasting Economic Strategies: U.S. versus China

4min

The Evolution of Economic Sanctions Post-9/11

20min

The Strength of the Dollar and American Democracy

5min

From March 20, 2024: Since World War II, the United States and its currency, the dollar, have come to play a central role in the broader global economy. And in recent decades, policymakers have used this role as a weapon, cutting off access to malign actors and punishing those who act contrary to U.S. national security interests. But cultivating such primacy has proven to be a double-edged sword, with more complicated ramifications for many Americans.

In her new book “Paper Soldiers: How the Weaponization of the Dollar Changed the World Order,” Bloomberg reporter Saleha Mohsin digs into the history of the dollar’s role in the global economy and what its increasing weaponization may mean moving forward. Lawfare Senior Editor Scott R. Anderson recently joined Mohsin to discuss her new book and what we should all know about the new economic and political moment we are living through.

To receive ad-free podcasts, become a Lawfare Material Supporter at www.patreon.com/lawfare. You can also support Lawfare by making a one-time donation at https://givebutter.com/lawfare-institute.

Support this show http://supporter.acast.com/lawfare.

Hosted on Acast. See acast.com/privacy for more information.