US Treasury Secretary John Connally the dollar “is our currency, but it’s your problem.”

Just over 50 years ago, at a meeting of the world’s top economic powers, US Treasury Secretary John Connally shocked his counterparts by proclaiming the dollar “is our currency, but it’s your problem.” 

Back then, America wanted a cheaper currency, forcing others to revalue theirs. Half a century later, the global economy faces the opposite challenge: The greenback is hovering at a 20-year high against its fellow major currencies, creating a huge problem for everyone outside America buying dollar-denominated goods. 

And no commodity is more important than crude oil.  

Bloomberg 8 June 2022

https://www.bloomberg.com/opinion/articles/2022-06-08/record-oil-prices-in-europe-asia-strong-dollar-is-becoming-the-world-s-problem

"It's our currency, but it's your problem,"

https://englundmacro.blogspot.com/2022/05/its-our-currency-but-its-your-problem.html