In the firmament of debts
November 16, 2025The USA reign supreme: 34.5% of the global total with $38 trillion — a monolith 1.6 times heavier than a fragmented Europe (21%, $23T). There are, however, fundamental nuances, because the United States has the dollar and… Reminder: Total nominal GDP reflects raw power while GDP per capita shows individual efficiency…
“The dollar is our currency, but it’s your problem”, John Connally
January 4, 202580% of the dollars in circulation have been created… in the last 5 years! Such an acceleration, unprecedented in the macroeconomic history of the world’s most powerful country, raises the question: could it harm the dollar’s status as a reserve currency? In my opinion, the opposite is true—the dollar, once again, is being used…