US external accounts adjust to the liquidity needs of the global economy
Which is why Keynes–having participated in sterling's decline and fall, recommended the Bancor.
Which is why the PBOC has embraced the Bancor or, as we know them, SDRs.
Better to put our heads together with China and the EU, along with Japan and make this happen with a world dollar, let everybody finance the heck out of infrastructure, bring Africa into the fold so they can also bring their living standards up. Make believe? Well, what do you call our deficit? better we all pretend and extend than continue leaving so many out in the cold Especially since the currency and a belief system. Let's all pretend together!