[spangry]

There’s one crucial difference - countries can’t print new diamonds or gold bars at will. Whenever the US prints more dollars, it transfers value from hoarders of US dollars to themselves - they’re levying a stealth tax via global oil price inflation. Other countries do not have this ability - if they print more of their own currency it just leads to domestic inflation.

The US can effectively tax the world as long as they use their military power to ensure oil producing countries denominate their oil exports in US dollars.

The reserve currency system is a stealth tribute system.