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AnimalMuppet 15 hours ago

It is not just reserve status that keeps borrowing costs low. It helps, but it's not the whole story.

The US dollar was the reserve currency in 1979. That didn't keep borrowing costs down.

cestith 15 hours ago | parent [-]

The US dollar is now also the oil exchange currency, and the US is a major oil producer so harder to squeeze. Remember what else happened in 1973 and 1979?