If the dollar lost substantial value, the dollar would lose its reserve currency status. Washington would not be able to issue new debt or new dollars in order to pay its bills.Its wars and hundreds of overseas military bases could not be financed. Economic hardship and poverty would worsen. Political instability would rise. The withdrawal from unsustainable empire would begin (Craig Roberts Global Res. 14 May 2014).
Craig Roberts is economist, was assistant secretary of the Treasury in the Reagan Administration, co-founder of Reaganomics.
An economic war is developing as part of the US endless Orwellian ” War on Terror” between 2 powers doomed to be eternal enemies and here: the USA is trying to destroy Russia acc. to Zbigniew Brzezinski ( left, showing cabalistic hand clasp) plan, the “Grand Chessboard“.
This economic war now threatens the very basis of the US superpower status: The dollar as only world reserve currency, giving the US infinite short, free credits to fund its vast military apparatus.
Abolishment of the dollar as the reserve currency has had serious implications in the past: war (Iraq, Libya) or sanctions (Iran, Russia) – as did the absence of a Rothschild-controlled central bank (wars in Afghanistan, Iraq, Libya) or sanctions (North Korea, Cuba).
Now, The US sent a reminder as a Minuteman III intercontinental missile in the direction of China, but stopping short of that goal to hit Guam: “We are still a nucclear power, do not forget that – nor that our dollar has to remain the reserve currency!”
EU approximations to Russia
The EU was forced into this war on US side, and it – not the US – has to bear the brunt of the economic consequences of the sanctions against Russia, losing marketing there. So, the big EU economies are now seeking away from the US, approaching Russia and China (DWN 17 March 2015).
A top NATO official said it was the wrong time to talk about mending relations with Russia, but EU chief Jean-Claude Juncker sounded more conciliatory, saying the bloc must begin to engage with Moscow again in areas of common interest. Reuters 16 Jan. 2015.
After Spain, Cyprus and Greece, the Czech Republic now has called for an end to the ongoing confrontation with Russia. With regard to the sanctions you must ask whether you want to pay the price, the adviser to the Czech president says (DWN 17 March 2015).. And the Greek Prime Minister will travel to Moscow – perhaps to get loans there: On March 18, the Greek Parliament rejected EU’s austerity with an overwhelming majority (DWN 17 March 2015). Also, Italy wants to get rid of the Russia sanktions.
Thus, the US is being more and more isolated – and its dollar, too, as the following will show.
Here is what Aleksandr Dugin, Putin´s mentor and “Rasputin”, the man behind Putin´s philosphy of Eurasia from Lissabon to Vladivostoc – even including Alaska – has to say. However, Europe may follow without conquest
Alexander Dugin: To be secure, Russia has to conquer Europe. Europe would then be happy under Russian rule, and the many immigrants who (with the help of “our” corrupt politicians) crush our culture would be sent back home
Elements – Aleksandr Dugin: 1) “New World Order,” “open society,” world government, planetary market, human values, One World, universalization of the West and its model, liberalism, canonization of the idiot-commoner as a normal, average representative of humanity. This – is from one side, these – are “not ours’.” (Thesis)
2) Eurasian Empire, “enemies of the open society” , freedom of nations and peoples to maintain their originality, autonomy, spiritual hierarchy, national differentiation, superhuman values, for East and against West, exceptional right to be called human, alloted only to the hero, wiseman, devotee, soldier. These are “ours”.” (Antithesis).
Two positions which could not be brought together, two all-encompassing superworldviews, two mutually exclusive projects of the future of mankind.
Who will thrust the last bullet into the flesh of the fallen enemy? Them or us?
This will be decided by war. The “father of things.”
Between them is only enmity, hatred, brutal struggle .., for extermination, to the last drop of blood. Between them are heaps of corpses, millions of lives, endless centuries of suffering and heroic deeds.
Zero Hedge 17 March 2015: An “isolated” Russia is looking to outside, and to the east, and as part of its most recent de-dollarization initiative, the Moscow Exchange announced it has started trading Chinese Renminbi-Russian Ruble currency futures.
Moscow Exchange’s turnover in the Chinese Renminbi grew 700% in 2014 to RUB 395 bln (CNY 48 bln).
How do you know a dollar collapse is coming? Because the rest of the world is preparing for it.
It seems many countries are growing tired of the U.S.’s arbitrary economic sanctions, playing politics with the SWIFT system, dollar manipulation of commodities, strangling IMF and World Bank debt with unequal representation in those institutions. Not to mention the ruthless violence used to protect this racket.
American dominance in the world economy is clearly waning. The US dollar is also slowly being diluted as the world reserve currency and all the key players know it. In fact, it’s now happening by design.
The new alternative system is basically a good thing since the world will have more choice in how it moves money. But, be warned, it is no different than the current fractional-reserve debt-based parasite that currently leaches off most of the planet
Western allies are flocking to join the new China-led Asian Infrastructure Investment Bank (AIIB). Left: Founding of the AIIB in Peking.
Reuters 17 March 2015: The concerted move by U.S. allies to participate in Beijing’s flagship economic outreach project is a diplomatic blow to the United States and its efforts to counter the fast-growing economic and diplomatic influence of China.
European Union and Asian governments are frustrated that the U.S. Congress has held up a reform of voting rights in the International Monetary Fund that would give China and other emerging powers more say in global economic governance.
The United States has urged countries to think twice before signing up to a new China-led Asian development bank, after Germany, France and Italy followed Britain in saying they would join. The AIIB was seen as a rival to the Western-dominated World Bank and the Asian Development Bank. The World Bank is traditionally run by a U.S. nominee and Washington also has the most influence at the IMF. The United States and Japan are the dominant members of the Asian Development Bank (ADB).
China said earlier this year a total of 26 countries had been included as AIIB founder members.
Europe’s participation comes amid prickly trade negotiations between Brussels and Washington (TTIP).
DWN 19 March 2015: Zwischen 2009 und 2014 sind die chinesischen Investitionen im ausländischen Immobiliensektor von 0,6 Milliarden auf 15 Milliarden Dollar gestiegen. Der ausschlaggebende Punkt für chinesische Investoren sind neben politischen Gründen, der zurückgehende Markt in China selbst und der Abruf höherer Gewinne in Märkten aus Übersee“
Australia also leans in the AIIB direction
Luxembourg’s Finance Ministry also confirmed the country, a big financial center, has applied to be a founding member of the $50 billion AIIB.
The US gives in: Joins the AIIB, too. A one world currency is coming
Zero Hedge 22 March 2015: The AIIB effectively represents the beginning of the end for US hegemony
The Obama administration is proposing the bank work in a partnership with Washington-backed development Bank institutions – one more leap towards de-dollarization is now in the books.
Global Res. 19 March 2015 Russian Andrew Karybko: As a simple summary, the sanctions war united Russia but divided Europe, giving the former a unique and pressing opportunity to diversify its partnerships, while depriving the latter of what was inarguably its most important one. The EU didn’t anticipate the extent to which the US would exploit it amidst the New Cold War, but as has been widely analyzed, the whole point of renewed US-Russian tensions has been for Washington to divide the EU from Russia and preempt the type of collusion between the two that would torpedo America’s Eurasian hegemony (as per Brzezinski’s forecast in “The Grand Chessboard”).
Something indicates that the US did not succeed in dividing the EU from Russia – on the contrary. A certain aversion against the US seems to be emerging in EU circles.
The US is indebted to Russia with 114 billion dollars – but China holds US bonds/debt worth 1.3 trillion dollars – and Japan 1.2 trillion dollars!
However, the US Gross National Product is 16.7 trillion dollars – so bankruptcy is not around the corner.