The loss of U.S. excepcionalism
Date: september 2026
Franklin Gill
American exceptionalism, Dollar hegemony, International monetary system
Funcas Intelligence – The new architecture of global power
The US is increasingly relying on private capital to finance its external deficit, which is making the dollar and the financial markets more vulnerable. The reduction in debt purchases by official creditors, coupled with geopolitical tensions, reflects a weakening of American exceptionalism and is already causing contagion in European markets.