By Zamir Awan for the Saker Blog
The US is desperate to sustain its hegemony and supremacy. It is taking extreme measures and can go to any extent to keep its hegemony and supremacy. Its Petrodollars policy has been playing a significant role, but, facing challenges recently and the US is getting nervous and crazy.
The petrodollar is any U.S. dollar paid to oil-exporting countries in exchange for oil. The dollar is the preeminent global currency. As a result, most international transactions, including oil, are priced in dollars. Oil-exporting nations receive dollars for their exports, not their own currency.
In addition, most oil-exporting nations own their oil industries. That makes their national income depends on the dollar’s value. If it falls, so does their government’s revenue. As a result, most of these oil exporters also peg their currencies to the dollar. That way, if the dollar’s value falls, so does the price of all their domestic goods and services. That helps these countries avoid wide swings in inflation or deflation.
The petrodollar system is tied to the history of the gold standard. After World War II, the United States held most of the world’s supply of gold. It agreed to redeem any U.S. dollar for its value in gold if the other countries pegged their currencies to the dollar. Other countries signed this deal at the 1944 Bretton Woods conference. It established the U.S. dollar as the world’s reserve currency.
On February 14, 1945, President Franklin D. Roosevelt initiated the alliance with Saudi Arabia.1 He met with Saudi King Abd al-Aziz. The United States built an airfield at Dhahran in return for military and business training. This alliance was so critical that it survived subsequent years of differences of opinion over the Arab-Israeli conflict.
The 1945 agreement between the United States and Saudi Arabia cemented the relationship between the dollar and oil. The petrodollar was born. In 1971, U.S. stagflation prompted runs on the dollar. Many countries asked to redeem their U.S. dollars for gold. To protect the remaining U.S. gold reserves, President Richard Nixon removed the dollar from the gold standard. As a result, the value of the dollar plummeted. That helped the U.S. economy as its export values also decreased, making them more competitive. A falling dollar hurt oil-exporting countries because contracts were priced in U.S. dollars. Their oil revenue dropped along with the dollar. The cost of imports, denominated in other currencies, increased.
In 1973, Nixon asked Congress for military aid to Israel in the Yom Kippur War. The newly-formed Organization of the Petroleum Exporting Countries halted oil exports to the United States and other Israeli allies. The OPEC oil embargo quadrupled the price of oil in six months. Prices remained high even after the embargo ended. In 1979, the United States and Saudi Arabia negotiated the United States-Saudi Arabian Joint Commission on Economic Cooperation. They agreed to use U.S. dollars for oil contracts. The U.S. dollars would be recycled back to America through contracts with U.S. companies. These companies improve Saudi infrastructure through technology transfer.
The United States uses the power of petrodollars to enforce its foreign policy. But many countries don’t fight back. They are afraid it would mean the collapse of the petrodollar system.
However, there was strong thinking against the Petrodollar concept and few Arab leaders declared to trade oil; in local currencies or any other currency, de-linking from dollars. The leading role was played by President Sadden Hussain, Col. Qaddafi of Libya, and the Syrian President. The US has punished them and changed the regimes in such countries.
China called for a replacement of the U.S. dollar as a global currency. Although, it is one of the largest foreign holders of the dollar. China influences the U.S. dollar by pegging its currency, the yuan, to it. China has signed a currency swap agreement with more than twenty countries and already trading with them in Yuan or local currencies. China is importing oil and gas from a few Arab nations in Yuan.
Russia has demanded to settle Gas bills in Rubles and a few European countries are already agreed to pay in Rubles. EU has also no objections if any member state pays in Rubles instead of Dollars. Russia is trading with few other nations in Rubles or local currencies instead of Dollars.
Russia has slashed the value of the dollar and the euro by 30% in a jiffy by linking the Russian Ruble to the value of gold and declaring to supply oil only against the Russian Ruble. Russia’s move means that now the entire world, especially Western Europe and Japan will buy the Russian Ruble by selling dollars in huge quantities, as the Russian Ruble has become the world’s most stable currency overnight after being linked to gold.
America, which does not mass-produce anything other than weapons and ammunition, is caught in a terrible economic crisis. In the event of a shrinking dollar, the US cannot cover its 306 billion budget deficit. This will cause severe unemployment and adversely affect the social safety net. This is the economic atom bomb that Joe Biden was aware of when he was talking about the removal of Putin in Poland.
Putin orders European countries to make payments of Gas and Oil in terms of Rubble and open the account in Russian banks. It will weaken the American sanctions on Russia. Although Russia has not retaliated against the American sanctions so aggressively, introduced its policies to counter the sanctions successfully.
The rapid decline of the US has made its leadership nervous and crazy. They are taking all possible measures to sustain their hegemony and supremacy. Even, though the Ukraine war is only a phenomenon, the objective is to maintain status-co. unfortunately, the US is not interested in global peace, stability, or saving human lives. The only priority is to maintain its hegemony and supremacy. To achieve this goal, the US can sacrifice Ukraine, Europe, or any heavy price. The US policy in the Ukraine war is to add fuel to fire, there is no will to stop the war, ceasefire, or save human lives. They are providing weapons, and arming civilians to lead toward a prolonged civil war, to bleed Russian and keep many countries over-engaged and let the US maintain its monopoly and the upper hand.
Russia was reluctant to attack Ukraine and has been observing restrains for quite along. Showing its genuine security concerns and alarming the US with serious consequences, but, the US kept its policy to encircle Russia.
The haphazard joining of NATO by Finland and the defense agreement with the UK is also equally a genuine threat to Russia. Russia and Finland share a long common border. Joining NATO, means, the deployment of NATO forces along the Russian border, which is a direct threat. Joining NATO by other Scandinavian nations is also a serious and matter of deep concern for Russia.
It seems the US has only one priority which is to sustain its position in the geopolitics, it ignores the genuine concerns of other nations. We are scared of the future of geopolitics and afraid the days to come may be harsh for humankind.
In history, many nations rose to the status of superpowers and ruled the world for a certain period of time, then, meltdown and passed the status of superpower to other rising nations. Like Roman Empire, Ottoman Empire, Greek Empire, British, and French empires, etc. But, The US is not willing to accept the natural cycle of superpowers and can go to any extent to keep its status of superpower forever, which is not rational nor natural, it might cause irrecoverable loss to humankind. Unfortunate!
Author: Prof. Engr. Zamir Ahmed Awan, Sinologist (ex-Diplomat), Editor, Analyst, Non-Resident Fellow of CCG (Center for China and Globalization). (E-mail: [email protected]).
….The rapid decline of the US has made its leadership nervous and crazy. They are taking all possible measures to sustain their hegemony and supremacy. Even, though the Ukraine war is only a phenomenon, the objective is to maintain status-co. unfortunately, the US is not interested in global peace, stability, or saving human lives. The only priority is to maintain its hegemony and supremacy. To achieve this goal, the US can sacrifice Ukraine, Europe, or any heavy price. The US policy in the Ukraine war is to add fuel to fire, there is no will to stop the war, ceasefire, or save human lives….
They will end up with no one to throw into the pit, then they will find that they gotta kill themselves the hard way.
The Globalists are in charge and are pushing for a world govt. absent ‘voter participant’
the 1% wont stop This is their moment
but their sucess will be temporary!!
America as a superpower has disrupted the boundaries created by humans and gods. This evil is not an ordinary evil, it wants to become like God, and it exists above the law and above the natural law as a law for itself, and this evil has determined its own destiny in demanding the right to everything in the world, and it is a violation of world order. In addition, it is an incentive to create terrorism and fascism that creates human-beasts, and creates disgusting behavior. Against the natural creates a lie as truth, health is disease, war is peace, night is day, woman is man, man is woman, left is right, etc. The Russian Spirit of Culture has risen up against this false spirit, and the people of Africa, South America, Asia also see this false spirit, which has established rule but can never win, ever.
Yes well said. I couldn’t agree more.
The Central Banks want to keep their status as Super Power at all costs. The US is just their tool to do that.
Not only that, but if the jewnighted shtetls were to implode for any reason, the israhell project is OVAH. Done with.
In a month of time there will be nothing left of it.
Very good summary of facts. And a realistic conclusion. The US will not be able to sustain its position with the fall of the dollar, though.
I sorta look at the shtetls as a mortally wounded wild hog, that ravaged my lands for years, before he got shot.
I do not want to get close to it, it is still trashing…yet it sure would be nice to prepare him, before the maggots settle in…I just dont want to spend my last bullit in case a bear is nearby…🙄
Your wild hog is mortally wounded only because the bear is nearby, though… Have you already forgotten this?
Yes praise God for the bear.
It is foretold the Moshiach will rise in a reunited Europe. America is in the way and must be destroy to make way for the Moshiach. The WEF the globalist, they all want their Moshiach, they need their Moshiach. They must have their Moshiach. Why? Who TF knows?
Christ was the Jew messiah and he is their only salvation. Too bad they are too blind to see the truth.
Congrarulations and a big thank you to Mr. Awan for this wonderful article. An impressive presentation of so many facts. Most of us remember a few facts but tend not to collate and connect all pertinent facts. This has been done by Mr. Zahir Awan
The guys propelling this in the US are losing a lot of political capability right now. Folks back home are telling me that nobody believes the economic troubles in the US are V.P.s´ fault. So, the corner has turned and time seems to be running out for the trouble makers. My guess is a possible postive change will ensue by the end of the year. Let us hope so. My take.
The US cannot retain anything with its domestic decay and collapse that began 3 decades ago and accelerated 6 yrs ago. It is doomed.
Once the rot sets in and is not only allowed to happen but is promoted then the house of cards will implode.
A different narrative about the petro-dollar and its continuing importance for the US today:
A nation that is monetary sovereign, i.e. issues its own currency cannot “go broke’ See: Modern Money Theory. For example, the US has been pumping billion of $US into its economy (called euphemistically Quantitative Easing) since 2008’s Global Financial Crisis. True, it dilutes the value of other nations’ currency holdings, but what would the US care?
Modern Monetary Theory (MMT) April 12, 2022
Now, the substantive pount:
Like most empires, the US will collapse from within for several reasons:
1. the population has been polarized mainly via the US media & political elites since the 1960s. Recall that Bill Casey, former director of the US 3-lettered intel agency who said in 1981: “We’ll know our disinformation program is complete, when everything the American public believe is false”.
While the people argue, or in fact not even listen to each other, the billionaire oligarchs (see: the Koch Bros. & the American Legislative Exchange Council, ALEC) who now have inserted themselves above the will of the people, can pretty much do as they please. People volunteer openly in cafes & restaurants that the nation is ripe for revolution or even civil war;
2. since the 1980s, Reagan’s:
– tax cuts for the rich
– wage suppression for everyone else
– privatization & deregulation
all defining characteristics of Neo-liberalism, the economy will collapse under obscene wealth inequality (the richest 47 people now own as much as the poorest 60%, i.e. 198 millions of people). And as food and fuel prices continue to spike, esp. the price of diesel, the conditions are created for riots in the streets;
3. but there’s even a more fundamental reason. When a society is based on a false belief/principle/delusion its collapse becomes inevitable, see Jared Diamond’s 2005 book Collapse: How Societies Choose to Fail or Succeed Neoliberalism assumes falsely that the individual parts of the whole are greater than the whole. But this totally ignores the role of synergy in any system. Given synergy, the whole (aka the collective) must always be greater than the sum of its individual parts. As an aside, this also explains why more collectivist societies such as Russia and China must succeed whilst the US & EU are well on the way to decay.
For students of history on this site, it’s like watching the last days of the Roman Empire – slow decline.
Modern Monetary Theory is complete nonsense that makes all important academics laugh. The US will collapse because the dollar is toilet paper.
Indeed, although it might be true that a monetary sovereign cannot technically “go broke,” it can certainly “go worthless” when it prints so much of its currency that it becomes worthless and people simply stop using it. “Full faith and credit,” and all that. “There’s no free lunch,” as the banksters know full well, even as they’re selling you the idea that there is. Shysters all.
The dollar has certainly no use as toilet-paper. But it can make a decent bon-fire. There’s nothing in MMT that forbids that to happen. But the dollar will survive, just as the German mark did. But it will not be the world reserve-currency anymore, and that will give you pain for sure.
My country will also feel the pain, as it has been a busy fighting Russia by pumping oil at the US request, in exchange for dollar”savings”.
You are all missing the forest for the trees:
The US has been In deliberately managed decline led by foreign actors for their own purposes. The tie between Ukraine and electoral interference, dark money oligarchy, and money laundering dating back to the 2014 coup emphasizes the long term nature of this plan led by Obama and Nuland. The first evidence of this plan was classified by Truman in the Acheson-Lilienthal report as a means to reduce US per capita income and destroy its soverignty as a means to establishing a one world govt led by the UN nearly 70 years ago. The tale is told by Richard Rhoads in his book “Dark Sun.”
This plan has evolved into an effort to strip the US of all of its wealth, social cohesion, educational prowess, industrial base, etc in the process of using US military assets and the dollar to collapse the current world order so that the Great Reset can be implemented unopposed.
Us policy only “looks” crazy if one assumes that loyal and rational American politicians are making these decisions.
The parallel to Rome is also backwards. The Decline and Fall of the Roman Empire is being used as a blueprint to destroy the US: unchecked immigration to destroy social cohesion, drug epidemic, COVID origins at the NIH, a stolen election, impeachment proceedings based on information provided by UAF double agents, spying on the White House, etc. Edward Gibbon wrote the playbook.
Vilifying the US feeds into the plan of those evil people who will use the chaos of sudden US collapse to impose something far worse on an unsuspecting world.
God help us all- morally depraved lunatics with thermonuclear weapons do not abide by any of the stabilizing aspects of Mutually Assured Destruction.
Netanyahu: “Once we squeeze all we can out of the United States, it can dry up and blow away.” What’s the definition of “we?”
I think Bibi is asking himself the same question right now. maybe also Bennet.
“US policy only looks crazy if one assumes that loyal and rational American politicians are making these decisions.”
It’s a hard paradigm to forsake, but if we don’t, it’s all empty talk.
Absolutely correct! An analysis from the wrong perspective is doomed to fail.
Yes there is a “superpower” in the making. It is a very powerful cabal best described as the City of London-Wall Street-Israel Cabal. A cartel of banks (and the families who have owned them for centuries in some cases).
The Cabal hates all sovereign nation states. A functioning, legitimate, sovereign nation state provides a voice and power (the Law) to ordinary people. The Cabal will not tolerate the neo-peasantry having any voice, and certainly not power.
The world these criminals intend is a top down, brutal technocratic neo-feudalist nightmare that will enslave all ordinary peoples of the world, including eventually the Russian and Chinese people.
The former western democracies have already been decapitated. Covid, and now Ukraine are intended to finish the job started long ago. The “Russian” sanctions, and their destruction of fossil fuel industries, supply, demand; the reduction in agricultural production; the ushering in of the “Green New Deal” scam which no functioning nation or free market would otherwise ever tolerate; all intentional and designed to kill the headless but still flailing corpses of the formerly sovereign western democracies.
And yes, certain elites in Russia are cooperating in this process, for they too intend to benefit fully from their membership in the New Global Aristocracy.
Meanwhile tenured professors continue to lecture on about a world that no longer exists.
Bravo Jim! And some others commenting on this as well.
“For students of history on this site, it’s like watching the last days of the Roman Empire – slow decline.”
Indeed it is a history lesson in the making, but will the decline be as slow as the Romans. The fall of the US epmire appears to be gathering pace at breakneck speed. Very dangerous times ahead.
Yes It can. money is just means of barter. X money chasing Y goods. EOL is producing very little and printing like there is no tomorrow. As long as countries of the world accepts pieces of paper for money it can import anything by printing lots of pieces of paper.
In other words EOL is living beyond its means. The days world stops accepting pieces of paper, EOL inflation will sky rocket and value of pieces of paper drop to zero.
EOL has created trillions, Does it have assets to match that ?
Then there is added fear of assets being frozen at any time.
EOL currency is on its way out.
In the race to the bottom which suckers are going to be left holding a worthless bunch of US paper products, with no takers?
He who bails first bails best.
When the US finally sinks, and it will, taking the other 4 Eyes with it, which Euro-lemmings are going to drown?
My fear, alas, it is too late, they’re all hooked up to the sugar drip on life support and hence obediently walking into the great abyss yonder, the elephant’s graveyard.
In short: US imperialism is about to commit suicide because it is afraid of dying.
US decision-makers are preparing for a military showdown with China because they are convinced that they cannot compete economically. There is a window of opportunity in which the US must destroy Russia in order to attack China. Both together are invincible. Once China has developed its military in 10 or 15 years, it’ll be too late.
The problem isn’t that China is three times bigger than the US. There are other big countries. The problem is that China is succeeding in developing state of the art technologies that are comparable to Western technologies. Technological innovation and not demographics is the deciding factor determining a country’s power.
Trump tried to strangle Chinese development and was surprised that the Chinese didn’t like it. How dare they! After all, the US has successfully bullied Japan into submission again and again (in semiconductors in the 1980s and aerospace in the 1990s). Damned Chinese! Just won’t do what they are told to do!
If imperialism is the only game the US can play, then it is indeed true that the US is finished. But there is a game called cooperation. Is it too late for the US to learn the new game?
Don’t be afraid of Chinese technology. We need all the human ingenuity we can get to cope with future problems, such as climate change, poverty and migration. The pandemic was a test run for future global problems. The West catastrophically failed the test because it decided on confrontation instead of cooperation.
We need cooperation and not confrontation to survive. Right now, the West is digging its own grave in Ukraine by playing the imperial game.
Please allow me a few important corrections. I know China is using tech in another way than West, but I cant agree in the list of “future global problems”.
Clima Change is weather change and not a problem, but only a question of adaption to a normal universal condition.
The next two “global problems”, poverty and migration, are covered by the true evil and basic negative conditions of today: Financial usury, GMO and slavery schemes.
So, to cooperate we must know and have the basic platform true. We cannot cooperate around “many truths” and different labellings. Let me refer to:
“Above all it is essential to refer to things by their correct names. If things are not referred to by their correct names, then our language will not reflect reality.
If our language does not reflect reality, then our actions will not reflect reality, and will be exercises in futility.” (Confucius, 551-479 BC, Chinese Teacher)
Forgive me this correction, but as it is essential basic, I hope you and others may benefit from it. Otherwise feel free to teach me back.
It was clear to me 40 years ago, that off-shoring the US mass production was national suicide.
“Editor” of what?
Last word of the article: “Unfortunate!”
More like “Tragic” if so.
“The US is not willing to accept the natural cycle of superpowers and can go to any extent to keep its status of superpower forever, which is not rational nor natural, it might cause irrecoverable loss to humankind.”
The U.S. leaders, like pres. Biden, want to avoid WWIII sincerely, to avoid a war with Russia in other words. The rest is “flour from another sack” as they say in Spanish. Finally, the issue in the quote is not determined internationally. It will be determined at the ballot box, maybe as soon as November 2024.
The US is a puppet of Globalists, not a Superpower. We are more of a failed state than Russia under Gorbachev, perhaps more than Russia under Yeltsin. NATO is not working for the USA but for the WEF. The WEF is defacto global governance. Operating through national institutions oligarchs gather and discuss carving up the planet.
Stegiel you are correct! Too many are trapped in an extinct paradigm. When we cannot or will not see the true enemy who threatens us all, we cannot even begin to fight back. And wasn’t that the trick afterall?
Watching a sophisticated puppet show, believing it to be reality, and fooled into rooting for one character or another. The puppet masters behind the scenes evil beyond comprehension and plotting the demise of us all.
First the Covid fraud. Now the Ukraine fraud. One every bit as sophisticated as the other. Both aimed at completing the well advanced destruction of the old order of sovereign nation states, with their sovereign citizens, bills of rights, laws, and currencies. The WHO, WEF, and other globalist cabal front organizations directing the activities.
Though the COVID scam affected us all, its tyrannical levers of control were directed most sharply at Australia. The pundits said, “Look what they’ve done to Australia and her people!” They did not, do not, and cannot realize this is the future planned for us all.
Though the Ukraine fraud is affecting us all, its tyrannical destruction of industrial capacity and production is most sharply directed at Germany (for now). And the stupid pundits say, “Look what they are doing destroying and deindustrializing Germany! Its America that wants to destroy Germany! Yes! And Macron too!” Fools! They cannot realize this is the future planned for us all.
Virtually all of the international corporations are controlled directly or indirectly by a handful of mega corporations (holding companies really) like Israeli Blackrock, Vanguard, or State street, and even these are all linked through the Global Aristocracy. Trump literally handed Blackrock the keys to the US treasury under cover of Covid and the very first US “relief package” (single greatest transfer/ theft of US future public wealth in history, in a country with the greatest history of public theft in the world) in March-April 2020.
Ownership/ control includes virtually all global media, pharmaceuticals, and most everything else.
These diverse corporations are the agents through which Cabal front organizations like the WHO and WEF carry out policy; turn ideas into action.
If the people in even a handful of the big nation states were able to seize back sovereignty, the cabal could be pushed hard onto its heels. But the techno-mechanisms and other means have already been put into place to prevent this. Only point to Canada and the literal seizure of bank accounts without due process following the Ottawa protests, or the persecution of January 6 protestors in the US.
These are the challenges and they remain impossible when so many people are unwilling or unable even to see what’s happening though its all out in the open.
“The US is desperate to sustain its hegemony and supremacy.”
Is US really “desperate”? I see no true proof for that. In fact these last 80 days have been much more Russian struggle, NATO and EU united and especially growing popular sport of mockering Russian military and Kremlin leadership. The only real surprises so far favoring Russia: rubble surviving, gas price record high and EU submitting realities of energy.
If currency curses are any measure the biggest surprise is the strength of rubble but even more Brazilian real(+20%).Dollar is now 7% stronger compared to euro. Japanese Yen has gone down heavily just like Egyptian currency.
On the other hand their is no sign of true panic in European economy. Ukrainian war has not harmed it much. EU countries are most likely abandoning as much Russian exports as possible in longer run. Interestingly USA, just like in 2014 seems to export from Russia as much as previous year, if not even more.
China has been neutral and it seems to maximize benefits of Russian struggle. Russia needs China more than China Russia. One should always remember that big powers don’t have permanent allies, just permanent interests. It seems to be that India is becoming one of the most crucial nations to block American growing influence. Rather disappointment for Washington. But many outside Europe are playing interesting game. Outside Europe players might see their own options to get more leeway. Relatively Europe is weakening. EU leaders are blind to see how irrelevant they are becoming.
As Turkish Ambassador in Moscow during early 1940 made Molotov restless with expression:
“We live in a time when everyone tries to hide their own plans.”
It’s called the Wolfowitz Doctrine! Google it. Seriously, it’s very important to understand that the US is determined to sabotage emerging powers, i.e. Russia and China.
Prof. Awan has described the conundrum of the Empire of Lies, the United States, in its death throes, and a brief historical time line of how it arrived at the graveyard of Empires. I beg to differ with some of the detail such as,
“The United States uses the power of petrodollars to enforce its foreign policy. But many countries don’t fight back. They are afraid it would mean the collapse of the petrodollar system.”
The reason why most countries were forced to use the USD or the “petrodollar” to settle oil trades, for example, is simply because to refuse would mean they would either be bombed “back to the stone age” or suffer “regime change.” Power of the “petrodollar” didn’t enforce US foreign policy but US military dominance did. Other countries were not afraid of a collapse of the “petrodollar” but afraid of being killed or destroyed by the military might of the US which enforced the use of the “petrodollar” and thus made oil the defacto gold standard. The only way the US could keep alive the power of the USD was to enforce its use as the global reserve currency, and therefore create an artificial demand for USD. One other correction, the Syrian president is still alive and in power. Russia helped defeat the US in Syria.
Notice since Russia was sanctioned by the US the threat to USD hegemony is escalating with the OPEC and the Saudis wanting nothing to do with the US and willing to trade oil in anything but USD.
The US is bankrupt. Russia and China know this. Relative to other currencies the USD is now a “safe haven” but this is soon to change as the illusion of strength of the USD is already being questioned as inflation rages across the globe.
The proper definition of inflation in monetary terms is “inflation of the supply of money,” as in inflating a balloon or bubble. The symptom of which is rising prices. Too much currency pumped into all economies debases or dilutes its value. What follows in the extreme examples is hyperinflation as in Weimar Germany in the 1920ies, and more recently, Zimbabwe, and Venuzuala.
The shunning of USD denominated debt — US Treasuries, Bonds, and T-Bills — is why the US Federal Reserve is now the lender and buyer of last resort.
Yield or interest on US debt is still too low. It’s called “return free risk.” Lending to an institution or sovereign nation by buying its debt is a risk in the case of the US even if the interest rate is greater than other sovereign bonds as the debt may never be repaid. So the US Federal Reserve has to buy more US debt, with currency digitally created “out of thin air” as foreign buyers exit the market.
When the 10 year US Treasury note yield keeps rising from the current 3% to 4% and beyond, the imploding debt market, like a hydrogen bomb, will set off a chain reaction. Rising interest rates on current debt globally, which is in the quadrillions of dollars, is the trigger to set off the bomb.
The imploding financial bubble created by central banks over five decades in the US, Europe, and Japan will happen simultaneously and paralyse their political classes, who still think they have the power to stop the destruction of their respective economies. They don’t. It’s a false sense of hubris. Stupidity has no limits. Greed for power blinds all reason.
The US hegemonic terror campaign over decades, and now the final, desperate targeting of Russia, has exposed the weakness of the US, both economically and politically. It took a few decades and Vladimir Putin to strengthen Russia so it could resist the economic and proxy warfare unleashed by the US. It also took over five decades for the US to destroy the value of its currency, since August 15, 1971, when President Nixon abandoned the convertabilty of the USD into gold.
In a twist of delicious irony, the suspension of the attacks on Russia by the US will happen because of the domestic battle to control social and political mayhem brought upon the US by its evil, its corruption, and its greed, as the USD goes to zero.
The US used its USD hegemony as a weapon to control the world with impunity since the second World War. The Empire of Lies now dies along with its currency.
While the financial bubble implodes, central banks will worsen the debasement of their fiat currencies. Prices of everything from commodities to finished goods will soar as hyperinflation takes hold, and the rush to spend currencies while they can still buy something tangible will be another catalyst for revolution.
The internal struggles of the US polity, the poverty and social collapse, and the power vacuum created as the main political parties self destruct will occupy the dregs of the oligarchy and political classes in the US for at least the next decade.
Unlike the US which puts the material world for itself first, Russia and China will be able to continue to invest their wealth in human capital, both at home and abroad, and we can rejoice in the knowledge that a spiritual space in the hearts of men has once again been opened.
As Julien Benda wrote: “Those who lead men to the conquest of material things have no need of justice or charity.”
In other words, the US will be revert to a version that is as important to the world as Texas.
Doesn’t Texas have world’s largest per capita privately run prison system?
Even as far back as “The American War” as the Vietnamese called the heinous acts by the US to destroy them and their country, many demoralised and frightened American soldiers cried in despair asking to be returned to “The World.” To them the world was only America, hence the metaphor “The World.”
Few Americans have been to other countries unless posted to a military base or sent to wage another illegal war.
To the Americans, their worldview consisted only of the US. Nothing else existed of any consequence outside the Continental United States.
That insular, jingoistic, and misplaced belief of an “exceptional status” as “the leader of the free world” has largely persisted until today, and is used to manufacture consent among the US population for Wars of Conquest in the name of Empire.
Only Americans matter, to Americans.
Everyone else is sub-human to be pillaged, exploited and killed. Or at least that’s what US foreign policy proves.
“By their fruits you shall know them.”
“The rapid decline of the US has made its leadership nervous and crazy.” This alone should inform you they will fail and turn on each other.
William Casey (CIA Director 1981-1987): “We’ll know our disinformation program is complete when everything the [White Western] public believes is false.”…from Reagan’s first Cabinet meeting as a statement of the CIA’s ultimate goal.
US – NAYOYO deliberately did everything in its power to start this war with the intent of fatally weakening Russia. Every President and Congress has implemented this foreign policy since Carter and Brzezinski. Systematic actions included breaking every statement, assurance, promise and treaty made with Russia. It involves directly threatening legitimate Russian leadership and government. It involved training and arming Banderite Nazis, supporting their genocidal goals against every argument for peaceful settlement, even against their own government, leaders, and ‘democratic system’.
Saladin: “I warn you against shedding blood, indulging in it and making a habit of it, for blood never sleeps.”
Russians have heard all the promises, watched the treaties signed and quickly ignored. They know of the racist genocides committed and planned. It won’t be the vacuous opinions of irrelevant Westerners, or worthless treaties that define this war. It will be blunt demands and brutal facts on the ground that outline Ukraine’s public defeat. This war will end with NAYOYO humiliated, and Russian tanks shaking the ground at western borders.
Winston Churchill (1944): ”I have left the obvious, essential fact to this point, namely, that it is the Russian Armies who have done the main work in tearing the guts out of the German army.”
The US is intent on throwing under the bus any country to prop up and prolong its hegemony. But how long could this be sustained? What will the US do, if these countries, battered by war, and with their economies and societies gutted and in ruins, start saying ‘No more!’ What then? Will the US go for broke and nuke the entire world because it can’t live among others as an equal?
True, but it’s no ordinary bus, it’s a super dooper magical mystery bus ride. Once you buy a ticket there’s no getting off this ride. ‘ You can check out any time you like but you can never leave ‘ – Hotel California
A suitable poem in response:
The Parable of the Old Man and the Young
So Abram rose, and clave the wood, and went,
And took the fire with him, and a knife.
And as they sojourned both of them together,
Isaac the first-born spake and said, My Father,
Behold the preparations, fire and iron,
But where the lamb for this burnt-offering?
Then Abram bound the youth with belts and straps,
And builded parapets and trenches there,
And stretch-ed forth the knife to slay his son.
When lo! an angel called him out of heaven,
Saying, Lay not thy hand upon the lad,
Neither do anything to him. Behold,
A ram, caught in a thicket by its horns;
Offer the Ram of Pride instead of him.
But the old man would not so, but slew his son,
And half the seed of Europe, one by one.
-Wilfred Owen, KIA November 4, 1918
What a poetic genius, what a man, what a tragic death and loss to humanity, one week before the Armistice..
The USA is a chess piece, maybe the queen. But not the master. To understand who are the master, one needs to comprehend fully the Bolsheviks, To comprehend this, one needs to read the history that is banned by all western powers, and even that banned in Russia. At that point, one realizes the mistakes made by those parties who have the power to impose the sanctions in place now. The sanctions have played into Putin’s hand: he is now stronger nationally and internationally. Notice how suddenly Swiss bank accounts are now open, when only a week prior they were frozen (ie stolen)? Nothing can remain hidden forever.
A “Greek Empire” never existed, unless you’re just talking about Athens’ maritime egemony over the Aegean Sea, which never was a real Empire, just control over other poleis; or maybe you’re referring to the Hellenistic world, where Greek “colonization” has been mainly cultural/linguistic, often mixed with other traditions, and nothing more.
A proper Empire never existed in Greece.