Super Imperialism by Michael Hudson has this banger of a quote while discussing the euphemistic “decoupling of the U.S. dollar from gold” 👇
Economic imperialism has produced some weird and almost incomprehensible results in its history, but never before has a bankrupt nation dared insist that its bankruptcy become the foundation of world economic policy. But U.S. officials now insisted that because of their nation’s bankruptcy on international account, all other nations must warp their economies toward transferring its bankruptcy to themselves, stultifying their industries and paying tribute to the beggar.
Say what you will about their ethics, but the U.S. government in the 1970s was full of some (evil?) geniuses.
How'd they get away with it?
Did they get away with it?