You do realize what eurodollar debt is?
Eurodollar debt is when i need money to open a factory, i raise money in the private/public markets in domestic currency, but because my lenders don't trust the︀ currency (say Kenyan Shilling) they price in $.
Every year i have to service that︁ debt, and if business isn't good, roll it over when it comes up for renewal.︂
Thats called the Eurodollar market, its not physical dollars, but contracts priced in Dollars, as︃ the Dollar is the cleanest s**t in the laundry.
That market is personal, commercial, state︄ and isn't recorded like normal contracts in ledgers that can easily be tracked, and as︅ 75 trillion $ rolls over annually (refinancing) and a ever-growing amount of it (380T$) its︆ not something that can go away, and the only way you can service it is︇ in real dollars, or the currency equivalent in $ if the party wants (or some︈ other currency) but because the sheer volume of it exists, it makes the $ which︉ as base money is minimal in comparison, create demand (strength) for the dollar, so regardless︊ of the manipulation you refer to - roughly a 8-10% debasement tax each year to︋ stop the entire system imploding due to domestic demographics, debt load and refinancing mechanisms, you︌ can't get rid of the dollar, because there's just too much demand for it.... and︍ its the cleanest s**t in the laundry.
Hence you have the dollar milkshake -
You can thank the UK, Swiss that created this as post war, the World wanted Dollars,︎ and the US had capital controls.
It's also the bedrock of the UK Financial Services️ offering and offshore industries/like wise in part Swiss.
