By John Tamny of RealClearMarkets
When it’s asked why foreigners frequently look askance at Americans, the answer usually boils down to our supposedly obnoxious nature; one that at times reveals itself in foreign policy initiatives that some around the world don’t like. The former is likely due to our being the descendants of some pretty courageous people who crossed oceans to participate in what was a libertarian experiment, while the latter should be answered by foreign policy experts.
But arguably the most compelling reason for foreign dislike of the United States is something that is not frequently commented on. In short, U.S. oversight of the dollar since 1971 has been nothing short of irresponsible, and as the dollar remains the world’s currency, poor dollar policy has invariably impacted the world in very negative ways.
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