Re:What is the Eurodollar System? (2020) [pdf]
by rsync on Sunday April 10, 2022 @01:13PM
(#30979203)
"That is also true of all sovereign currencies, for their own taxes."
Yes, certainly but it bears repeating: that is the entire point.
That lever of control - being the sole provider of a resource that you must demand - is a core feature of the government as we know it.
That is also true of all sovereign currencies, for their own taxes. But not all countries get to borrow their own currency from foreign lenders. Hyperinflation in Germany and Zimbabwe happened because they owed money in other countries' currency.