1189: Edward Fishman | Why the Dollar Is America's Most Potent Weapon
The Jordan Harbinger Show
Jordan Harbinger
4.8 • 12.1K Ratings
🗓️ 29 July 2025
⏱️ 79 minutes
🧾️ Download transcript
Summary
Why fight with tanks when you can cripple enemies with trade? Here, Chokepoints author Edward Fishman reveals the new rules of economic warfare.
Full show notes and resources can be found here: jordanharbinger.com/1189
What We Discuss with Edward Fishman:
- Invisible choke points give US asymmetric power. The dollar dominates 90% of global foreign exchange, enabling sanctions on countries with no US involvement, like blocking China-Iran oil payments.
- Economic warfare threshold lowered, impact increased. Unlike naval blockades requiring military force, cutting countries from dollars/semiconductors imposes "just as much economic harm" with less risk.
- China built counter-arsenal after 2018. China now controls 99% of rare earth minerals, batteries, and clean tech supply chains, and recently forced the US to back down using export controls as leverage.
- US-Europe split weakens economic leverage. Acting unilaterally pushes allies toward Euro alternatives, reducing dollar dominance that enables effective sanctions against adversaries.
- Economic warfare offers hope over military conflict. Understanding these dynamics enables democratic participation in choosing economic tools over shooting wars.
- And much more...
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Transcript
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| 1:07.0 | Coming up next on the Jordan Harbinger show. Sanctions economic warfare take a lot of heat. |
| 1:11.9 | People are like, wouldn't we be better off through development assistance and peace rather than economic war? |
| 1:17.0 | But like the reality is the alternative to economic war often isn't peace. |
| 1:20.7 | It's actually a real nuclear crisis. |
| 1:22.9 | It's actually real war. |
| 1:24.3 | We should be willing to risk quite a bit to make economic warfare succeed against the |
| 1:28.5 | likes of Russia and Iran because the alternative is worse. |
| 1:34.3 | Welcome to the show. I'm Jordan Harbinger. On the Jordan Harbinger show, we decode the stories, |
| 1:39.0 | secrets, and skills of the world's most fascinating people and turn their wisdom into practical |
| 1:43.0 | advice that you can use to impact your |
| 1:44.6 | own life and those around you. Our mission is to help you become a better informed, more critical |
| 1:49.1 | thinker through long-form conversations with a variety of amazing folks from spies to CEOs, |
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