From Steven Pearlstein this week:
"When half of the world's currency is pegged to the dollar, the United States winds up handing over control of its currency to foreigners who have become quite clever at using it to their economic advantage. And by making it so cheap and easy to borrow money, we have been enabled and encouraged to live beyond our means, taking on so much debt that the dollar's role as reserve currency is now called into question."
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