The global monetary system, measured

Balance of Power

The hierarchy of money · after Perry Mehrling

The dollar is the money the system settles in. What it costs, who can borrow it when it runs short, and how many months of imports the periphery can cover are three different facts.

Price
121.4
Fed broad dollar index (January 2006 = 100), 16 Oct 2026.
Access
$0.17bn
Drawn on Fed swap lines, 21 Oct 2026.
Constraint
6.2months
Of imports South Africa's reserves would cover, 2025. Egypt 4.4.

All hierarchy charts →

The dollar's transaction cycle · after Zongyuan Zoe Liu

A cross-border deal prices, finances, hedges, pays, and reinvests. Each step has its own currency, and the dollar's lead is not the same size in each.

Pricing
50.3%
Share of Japan's exports invoiced in dollars, 2023. Korea 83.1%.
Financing
63.0%
Share of foreign-currency bonds sold abroad that are in dollars, 2026 Q2. Euro 24.4%.
Risk transfer
89.2%
Of FX trades with the dollar on one side, April 2025. Renminbi 8.5%.
Payment
Which rails carry the money?
Data to come
Reinvestment
56.7%
USD share of FX reserves, 2026 Q2. Renminbi 2.1%.

All cycle charts →

The economic statecraft toolbox · after Laurence Wilse-Samson

States use those links as instruments. These charts count instruments the United States has used. They do not yet measure what the instruments did, or what other states have done.

Finance
Who can be cut off from dollars and payment rails?
Data to come
Investment
Whose capital is screened, blocked or taken as a stake?
Data to come
Technology
Which technologies are controlled, and for whom?
Data to come
Trade
8.2%
U.S. tariff rate actually collected, 2026 Q2.

All statecraft charts →