In 1956, Britain’s Suez campaign collapsed not because its forces were defeated, but because sterling could not withstand financial pressure. The episode revealed a structural truth: military capability is subordinate to monetary autonomy. Today the United States is not Britain under Bretton Woods, but it faces expanding global commitments alongside rising debt, elevated interest costs, and industrial constraints. This article examines how financial markets, rather than battlefields, may ultimately define the limits of American power. A single geopolitical shock is manageable. A sequence of them may not be. History may not repeat—but it can rhyme.
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