Certainly. My point is that we can't lose sight of the fact that the U.S. consumer benefits from the "inordinate privilege" too. The U.S. has experienced inflation, and it's gotten worse recently, but inflation has been worse for every other fiat currency in the world, because we can export a chunk of our inflation. The whole world helps pay for U.S. QE. That's why it kills me when Yellen brags that inflation is worse everywhere else than in the U.S. No shit! The U.S. weaponized the dollar.