How the dollar's 'exorbitant privilege' enriches the USA (and global elites‪)‬ Geopolitical Economy Report

How much does the US benefit from printing the global reserve currency? An economist calculated that US average daily income would fall by 27-57% if the dollar lost its "exorbitant privilege". Ben Norton explains how wealthy investors not only in North America but around the world hold much of their wealth in the dollar.

VIDEO: https://youtube.com/watch?v=jYkiMcR1Rj8

Link to Philip Pilkington's report and Twitter account: https://twitter.com/philippilk/status/1782409654519128497

Topics
0:00 US dollar dominance
2:00 Economics of exorbitant privilege
5:23 Current account
9:29 Balance of payments
12:31 Effects of dollar hegemony
14:45 Neoliberalism & financialization
17:41 Foreign capital funds US deficits
19:28 Global 1% invests in US assets
20:35 Super Imperialism
22:25 Fed inflates asset bubbles
25:22 De-industrialization in West
28:06 Industrialization in BRICS
28:57 Investment & FDI
33:08 Wages & manufacturing
35:00 Re-industrialization?
38:16 Outro