i don’t agree, and moreover you aren’t replying to my point in general or to the aspect that you quoted. i literally did not say what you claim i am saying. this is, i feel, a consistent issue of yours. the marshall plan is irrelevant when half the reason Nixon ended the gold standard was France buying up too much USamerican gold with Vietnam dollars. its doubly irrelevant when the only reason it worked was the direct damage of the second world war and the lack of “efficiency” in European markets prior to the war.
i do not, at any point claim that China is on track for hyper-financialization. in fact, i explicitly argue that China is taking advantage of the US already having done so. America did not decline during de-industrialization, it ascended. if the common (white, cis, straight) working joe hadn’t been screwed over completely by finance, the American project would have ended in the 70s. you are conflating together three different currency regimes of USamerica, none of which are analogous to China’s current situation.
i do not associate the issues you are talking about with bretton woods. Polanyi’s The Great Transformation laid out everything that was going to happen before it did, long before the Austrians got involved. the connection between dollars and trade deficits has nothing to do with Keynesianism, an ideology/ economics program that has never been relevant in the USA. fully most of what you lay out here is the exact argument of the re-dollarization people that you have spent hundreds of words and many days arguing is farcical dogshit. what am i supposed to think you are saying?
i do try and proofread my comments a few times to make sure i’m not saying anything too sectarian or jargon-y, and i would be happy to answer questions about anything i say in comments or pms. my issue with shipwreck/ xiaohongshu and what i see as a habit of willfully missing the point so they can restate their thesis aside, i am happy to discuss anything