2019_nyt_USD (1).docx - America’s Most Profitable Export...

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America’s Most Profitable Export: Money The world has a growing appetite for small green pieces of paper with Benjamin Franklin on the front. By Binyamin Appelbaum America’s most profitable export product is not oil or medicine or Hollywood movies or Boeing airplanes. It is a small green piece of paper with Benjamin Franklin on the front. Last year, the United States exported $65.3 billion of its currency — mostly $100 bills. The world needs an international currency, and the dollar is the obvious candidate because the United States, for all its economic troubles, remains the hub of the global economy. United States government debt is the world’s most popular investment, and the bonds can be purchased only with dollars. Oil is the world’s dominant trade good, and it also is priced and sold in dollars. Much like Facebook, everybody uses dollars because everybody uses dollars. The popularity of paper dollars, however, requires a little more explanation.
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