The Advance of Post-Nation Control But First, They Need A Major War
For more than seven decades the United States has relied on a financial and military architecture built on the primacy of the dollar and control over oil flows. Independent economists such as Michael Hudson of the University of Missouri–Kansas City have shown that Washington’s ability to finance its military footprint abroad since the early 1970s was tied to the dollar’s role as a reserve currency and the recycling of US deficits through foreign central banks. That mechanism replaced the pre-1971 export surplus which once funded the overseas bases. By pushing other nations to hold dollar reserves instead of gold, Washington effectively monetised its global military spending. Hudson documented this inversion in his book Superimperialism, which has been used as a teaching text at US military academies despite being highly critical of policy.
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