> why do you believe that the US military is essential to its role as a major reserve currency?
Because it's the final backstop that compels people to pay taxes, and taxes are essential to that role.
If you refuse to pay taxes, they send a policeman to arrest you. If you evade the policeman's arrest, they send more policemen. If you somehow evade all the policemen, they send the military.
If the US had no armed federal agents, then people wouldn't pay taxes and the government would shrivel up and die, because governments can't survive on zero revenue.
In this way, the US dollar's value is reliant on the threat of physical force - or in a broad sense, a military.
Because it's the final backstop that compels people to pay taxes, and taxes are essential to that role.
If you refuse to pay taxes, they send a policeman to arrest you. If you evade the policeman's arrest, they send more policemen. If you somehow evade all the policemen, they send the military.
If the US had no armed federal agents, then people wouldn't pay taxes and the government would shrivel up and die, because governments can't survive on zero revenue.
In this way, the US dollar's value is reliant on the threat of physical force - or in a broad sense, a military.