1189: Edward Fishman | Why the Dollar Is America's Most Potent Weapon
Why fight with tanks when you can cripple enemies with trade? Here, Chokepoints author Edward Fishman reveals the new rules of economic warfare.
Full show notes and resources can be found here: jordanharbinger.com/1189
What We Discuss with Edward Fishman:
- Invisible choke points give US asymmetric power. The dollar dominates 90% of global foreign exchange, enabling sanctions on countries with no US involvement, like blocking China-Iran oil payments.
- Economic warfare threshold lowered, impact increased. Unlike naval blockades requiring military force, cutting countries from dollars/semiconductors imposes "just as much economic harm" with less risk.
- China built counter-arsenal after 2018. China now controls 99% of rare earth minerals, batteries, and clean tech supply chains, and recently forced the US to back down using export controls as leverage.
- US-Europe split weakens economic leverage. Acting unilaterally pushes allies toward Euro alternatives, reducing dollar dominance that enables effective sanctions against adversaries.
- Economic warfare offers hope over military conflict. Understanding these dynamics enables democratic participation in choosing economic tools over shooting wars.
- And much more...
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