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Joseph Solis-Mullen: Sound money and the myth of militarism
By Joseph Solis-Mullen
MoneyMetals.com, Eagle, Idaho
Friday, June 5, 2026
One of the most common mistaken arguments against a return to sound money is that the dollar's international dominance supposedly depends upon American military supremacy.
According to this view, the United States cannot seriously consider restoring monetary discipline -- whether through embracing the classical gold standard or gold convertibility, anything that would put a limit on monetary expansion -- because the dollar's role as the global reserve currency ultimately rests upon Washington's ability to project overwhelming force abroad. Aircraft carriers, overseas bases, and the Pentagon's vast security architecture, we are told, are what truly "back" the dollar.
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The implication is clear enough: If the United States were to retreat from perpetual military supremacy or return to a genuinely sound monetary standard, the dollar would lose its privileged position in global trade and finance.
Yet historically this argument holds little water as examples to the contrary abound. ...
... For the remainder of the commentary:
https://www.moneymetals.com/news/2026/06/05/sound-money-and-the-myth-of-militarism-004970
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