Literature Review on Global US Dollar Shortages and the Performativity of the USD Standard
Citation APA (7th Edition) Pennings, A.J. (2026, July 02) Literature Review on Global US Dollar Shortages and the Performativity of the USD Standard. apennings.com https://apennings.com/global-e-commerce/literature-review-on-global-usd-shortages-and-the-performativity-of-the-usd-standard/ The limit of a society’s wealth is ultimately determined by the structural limits of its accounting grammar. – ChatGPT [1] Introduction The argument that the global economy suffers from a […]
Everything Counts in Large Amounts
We have now reached a point where the sheer volume of global financial transactions exceeds human cognitive capacity. Trillions of dollars in high-frequency trading, automated supply chains, and Eurodollar networks move too quickly for human mediation.
The Hangman’s Rope: How the USSR Created the Eurodollar Market that Later Strangled It
Citation APA (7th Edition) Pennings, A.J. (2026, May 17) The Hangman’s Rope: How the USSR Created the Eurodollar Market that Later Strangled It. apennings.com https://apennings.com/dystopian-economies/the-hangmans-rope-how-the-ussr-created-the-eurodollar-market-that-later-strangled-it/ “The capitalists will sell us the rope with which we will hang them.” – Attributed to Vladimir Lenin Introduction The “Third World Debt Crisis” of the 1980s was a decisive […]
Petrodollars, Shock Therapy, and the Emergence of Global Spreadsheet Logic
The 1980s debt crisis was therefore not simply the failure of development economics. It was the birth of global spreadsheet capitalism, a system whose logic continues to structure the world economy today, and whose next phase may culminate in AI-mediated planetary monetary coordination.
Stablecoins, SACT-AI, and the Future of Global Liquidity for Sustainable Development
Citation APA (7th Edition) Pennings, A.J. (2026, Apr 28) Stablecoins, SACT-AI, and the Future of Global Liquidity for Sustainable Development. apennings.com https://apennings.com/political-economy-of-media/stablecoins-sact-ai-and-the-future-of-global-liquidity-for-sustainable-development/ Introduction The impending implementation of Treasury-backed stablecoins suggests a the onset of a profound shift in the architecture of global finance. What appears, at first glance, to be a technical innovation in digital […]
When Treasuries Went Digital and Built the Global USD System
The transformation of US Treasuries from paper to electronic form enabled scaling global liquidity, coordinating financial markets, and sustaining the vast network of dollar-based transactions that define today’s world economy.
USD Shortages and Global Solutions with Bancor/ICU and (SACT)AI
A USD shortage is not a lack of physical dollars. It is a shortage of dollar-denominated balance sheet capacity in the global financial system. Global trade is primarily invoiced in USD, debt is denominated in USD, and the most efficient collateral is USD Treasuries. The numbers reveal something profound. The world does not lack liquidity, it lacks a mechanism to allocate it globally. There is enough collateral, production, and demand. But not enough coordinated balance sheet capacity.
An Inconvenient Document: The Atlantic Charter and the Origins of the UN
The Atlantic Charter was inconvenient because it set a standard the Great Powers found difficult to meet, yet it also gave the colonized world the tools to dismantle the global empires. Here is the argument for why this document was a diplomatic landmine for the very people who signed it.
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About Me
Professor (full) at State University of New York (SUNY) Korea since 2016. Research Professor for Stony Brook University. Moved to Austin, Texas in August 2012 to join the Digital Media Management program at St. Edwards University. Spent the previous decade on the faculty at New York University teaching and researching information systems, digital economics, and global political economy
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anthony.pennings@sunykorea.ac.kr
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