It seems Washington has finally discovered a national mission. It is not freedom or democracy but rather the good old greenback. The United States appears to be gearing up to “recolonize” nations, this time through bank transfers.
The Trump administration recently consulted with economist Steve Hanke on how to ensure the dollar reaches every country that does not yet have Benjamin Franklin’s portrait in its local banks. Officially, this push is framed as a quest for “global stability.” Unofficially, it is a way to avoid explaining why the printing press ran out of paper once again.
In an effort to counter China, the US has opted to print even more dollars. This approach is akin to battling obesity by opening another fast-food restaurant. A meeting with Hanke is like consulting with a dietitian who suggests enjoying cake, as long as it was not made in China.
On a more relatable level, this scenario mirrors a family dispute over household expenses. China says, “Let’s split the bills. I’ll pay in my currency.” America retorts, “No, we’ll pay with mine, but I’ll manage your funds.” Meanwhile, the world is sitting at the communal table, trying to ignore that both sides are gradually depleting the fridge of its last provisions.
Officials call this “maintaining the global standing of the dollar.” We see it differently—as an attempt to market an outdated product under a new brand. After all, if the dollar is a brand, the US is currently launching a rebranding campaign: “The same taste of debt, now with a hint of geopolitics.”
