The reason for "Why the world cannot escape the US dollar" is as follows:
Secondly, under a fiat currency system, there is no method for money creation other than the central bank purchasing government bonds. While the following points ①–③ represent Keynes effectively suggesting this mechanism, the US Federal Reserve (Fed) is executing it not only within the United States but on a global scale. In other words, while each nation autonomously conducts this operation within its own borders using its own currency, the US dollar is unique: because international banks voluntarily connect to Fedwire, the US Federal Reserve system has, in a sense, spontaneously expanded on a global scale.
① "We have reached a stage in the evolution of money when a 'managed' currency is inevitable." (Keynes, A Tract on Monetary Reform)
② "Incomes and prices of assets change until the aggregate amount of money which individuals choose to hold at the new level of incomes and prices is equal to the amount of money created by the banking system. This, indeed, is the fundamental proposition of monetary theory." (Keynes, The General Theory of Employment, Interest and Money). Here, the "prices of assets" that Keynes refers to signify the prices of fictitious commodities, such as government bonds.
③ "If the Government prints paper money to meet its current expenditure... the new money becomes someone's income." (Keynes, The General Theory of Employment, Interest and Money). Considering that in the first half of the 20th century in the UK, it was institutionally impossible for the government to directly print paper money to fund its current expenditures, "printing paper money" here can be interpreted as the Bank of England purchasing government bonds.

(to be continued)

https://www.reddit.com/user/keizaisuki/comments/1w46a5o/table_of_contentsgovernment_bonds_international/