Listen to a reading of this article (reading by Tim Foley): Some empire managers are so brash about wanting to rule the world that they'll occasionally voice their position so directly it sounds like an anti-imperialist said it. We saw just such an instance last Wednesday during
At the exact moment that the US dollar loses its reserve-currency status, the US empire will cease to exist. Yes, I know, it's not going to be literally a single moment, like switching off a light bulb, but the principle still applies. The process of the US dollar losing its special--hegemonic--status has been put in train by the seizing of Russian Federation central bank assets. There's no going back now. They've given the game away that US dollar assets are entirely at the whim of empire managers no matter where dollars are deposited. They can be frozen (seized, cancelled) arbitrarily and with total impunity. The non-Western bloc major players are all making preparations to exit their US-dollar dependency. How long will it take to fell the giant once and for all? No one knows of course, but I'd give it 10 years, tops. Yes, with the demise of the main denominator of trade and assets, financial chaos will ensue, but many countries are already showing agility in building up their resilience. Without the dollar's "special powers", the US cannot maintain its sprawling empire, and I doubt it will even be able to sustain its federal system of governance in any recognisable form.
The rest of the world is learning that the much-hyped "Muh property rights and Rule Of Law" is so much hot air, as the United States and its lackeys will deny both to anyone who gets crosswise with the Empire.
Very dangerous to keep one's assets in such lawless and arbitrary jurisdictions.
Canadian citizens who donated to the truckers had their bank accounts frozen.
Paypal stole $9387 from Consortium News for "spreading misinformation." After enough people terminated their accounts in protest Paypal returned the money.
Undermining the empire's ability to fund WW III is an added incentive of going off the dollar that BRICKs et al may or may not have foreseen. But I'm a fan of knocking an imperialist bully off his high horse for any reason.
America’s deindustrialized economy is kept alive by exploiting the unique US dollar inflow from surpluses and T-bill profit generated by almost every other country in the world. The dollar’s status as reserve currency lets the US export domestic economic pain by Fed money printing. It's a multi trillion dollar annual triage, and it's been going on for decades.
What Paul Volcker began in the 1970s as an ingenious way to maintain unaffordable US military spending has metastasized into an essential crutch propping up forever war and an otherwise non-viable economy.
For the past 50 years, behind a smokescreen of manipulated stockmarket indices, bogus GDP metrics, petrodollar gangsterism, debt peonage imposed on the Global South, and an army neoclassical Chicago school bullshit artists – every year has seen more of American's natural domestic economy hollowed out, corporatized, institutionalized, financialized, what’s left of productivity rearranging around the ever-extending military industrial complex.
Too late to pump the brakes, it's a conundrum no US politician has the courage or the conviction to resolve. So they follow the short-term imperative of sustaining America one more year by voting for more trillions in appropriations budgets pumped direct from the Treasury into the moribund economy. The point of no return past long ago. From here on in, it's ‘full scale dominance‘ or a Mad Max catastrophic collapse. What else can they do?
Caitlin my dear - The two main economic arenas needing reform are Land and Money. Please consider advocacy for Public Banks and Land Value Taxation (commons Rent) instead of taxes on labor and production. Elite rule system stems from private profiteering in these two. Money is just a symbol system. Land, the Earth, is the Source. We must affirm that the Earth is the Birthright of All People..
There are limits to cops' assaults on their own people. France is approaching that limit.
The Germans are just beginning to taste the results of Neoliberal deindustrialization and the economic decline related to Nordstream sabotage, high energy prices, inflation, and the austerity that will increase under a war economy. Next winter breaks the camel's back.
''It seems unlikely to me that the emergence of a multipolar world will in and of itself produce any kind of wonderful utopia, and as Professor Richard Wolff explains the dollar's decline could potentially give rise to a lot of economic chaos and suffering. But at the very least the fall of US dollar hegemony would deprive one group of psychopaths a powerful weapon they should never have had, and could even end up impeding the empire's ability to ramp up for a global conflict between major powers — a conflict which must never occur.'' so this ALBERT WAS, IS AND IT WILL BE FOREVER RIGHT> > “Every time I hear a political speech or I read those of our leaders, I am horrified at having, for years, heard nothing which sounded human. It is always the same words telling the same lies. And the fact that men accept this, that the people’s anger has not destroyed these hollow clowns, strikes me as proof that men attribute no importance to the way they are governed; that they gamble – yes, gamble – with a whole part of their life and their so called ‘vital’ interests.”- Albert Camus (1978). “Notebooks, 1935-1942”, Harcourt....100% RIGHT!
An excerpt from Peter Dalio's longer YouTube that talks about the cycle of empire.
Dalio is one of the Oligarchy. He is perhaps one that Nader was talking about in his book "Only the Super-Rich Can Save US". http://onlythesuperrich.org
He's mostly invested in China I guess so perhaps he's just figuring out a way of fleeing with his wealth to China. Or maybe ... Folks may want to watch his entire video https://www.youtube.com/watch?v=xguam0TKMw8
I can't say I'm happy about events, but I sure am tired of living in a Fascist state (USA, although I think Australia, being a US vassal, it probably also).
This has always been the primary goal of U.S. policy - protecting the reserve currency of the U.S. dollar, or as I call it "protecting the magic printing press." And, yes, rampant "manipulation" has been used for decades to achieve this result. That's why gold and silver "markets" have been manipulated for so long. The Status Quo Protectors know that they have to impeach/impugn people who believe in other forms of "money." Thus, these proponents of "history's money" or "real money" became gold "BUGS" - a dirty insect that should be squashed. The same tactic was used to malign critics of Covid "vaccines" as "anti-vaxxers" or "science deniers."
Yes, follow the money ... and all the money really comes from a magic fiat printing press, which would be destroyed if "faith" in the U.S. dollar somehow evaporated.
It’s their time; nations all over the world have been waiting for it. And ironically the hegemony brought all this on itself. They finally bit off more than they can chew by underestimating Russia. It took this ignorant bunch of warmongers to come along right a check their butt couldn’t cash.
The Eurasian community is forming so quickly that’s it hard to keep up, along with the speed by which the dollar is losing market. There are a half dozen countries for sure and many more are in process of using alternative currencies for trade among themselves. The last time I checked a few weeks ago the dollar had lost 40%of it’s market internationally.
So then, what do you when the body has a part with gangrene threatening to spread. That part has to be removed in order to save the rest of the body.
In the community of the world that infectious body part is our own collapsing financial system. Which as you know is no longer a industrial capitalist system but rather a financial capitalist and it’s failing. KSA said the decrease in oil is directly related to instability of the U.S. banking system.
So what to expect?
Expect Biden to announce cuts to social services programs such as SSI and Medicare after raising the minimum age of course.
Of course this will exasperate the economy but then we expect that from the maniacs in DC.
As rightly assumed by Jeff all democrat failed banks(which will be largest national banks) cities and states will certainly be rescued with bailouts.
I also add when the Walmarts, Cracker Barrel’s and McDonalds etc,start shutting down and moving out so will the other businesses such as Starbucks and smaller fast food chains.
That void will be filled with the very worst of humanity.
It was inevitable that the empire of the rules based order fall. All empires fall according to this one principle; spiritual collapse always precedes the collapse of an empire. When the internal supporting structure becomes soft with rot the external structure folds in on itself.
I’ve been reading outside the western media propaganda machine the rest of the world is making plans not be anywhere near when the U.S. falls.
This is pumped up Theatre of the Absurd, surely. When you can't keep up with sanctions , which by now must constitute a sizeable bureaucracy in itself, something has gone really wrong. And really wrong again when you studiously undermine your own world currency status, and suffer from the runaway inflation you want to inflict on others (blowing up pipelines? A Zen puzzle - they did it they didn't do it - at the same time). Well, let them figure it out. They're good at that.
At the exact moment that the US dollar loses its reserve-currency status, the US empire will cease to exist. Yes, I know, it's not going to be literally a single moment, like switching off a light bulb, but the principle still applies. The process of the US dollar losing its special--hegemonic--status has been put in train by the seizing of Russian Federation central bank assets. There's no going back now. They've given the game away that US dollar assets are entirely at the whim of empire managers no matter where dollars are deposited. They can be frozen (seized, cancelled) arbitrarily and with total impunity. The non-Western bloc major players are all making preparations to exit their US-dollar dependency. How long will it take to fell the giant once and for all? No one knows of course, but I'd give it 10 years, tops. Yes, with the demise of the main denominator of trade and assets, financial chaos will ensue, but many countries are already showing agility in building up their resilience. Without the dollar's "special powers", the US cannot maintain its sprawling empire, and I doubt it will even be able to sustain its federal system of governance in any recognisable form.
The rest of the world is learning that the much-hyped "Muh property rights and Rule Of Law" is so much hot air, as the United States and its lackeys will deny both to anyone who gets crosswise with the Empire.
Very dangerous to keep one's assets in such lawless and arbitrary jurisdictions.
Canadian citizens who donated to the truckers had their bank accounts frozen.
Paypal stole $9387 from Consortium News for "spreading misinformation." After enough people terminated their accounts in protest Paypal returned the money.
Undermining the empire's ability to fund WW III is an added incentive of going off the dollar that BRICKs et al may or may not have foreseen. But I'm a fan of knocking an imperialist bully off his high horse for any reason.
America’s deindustrialized economy is kept alive by exploiting the unique US dollar inflow from surpluses and T-bill profit generated by almost every other country in the world. The dollar’s status as reserve currency lets the US export domestic economic pain by Fed money printing. It's a multi trillion dollar annual triage, and it's been going on for decades.
What Paul Volcker began in the 1970s as an ingenious way to maintain unaffordable US military spending has metastasized into an essential crutch propping up forever war and an otherwise non-viable economy.
For the past 50 years, behind a smokescreen of manipulated stockmarket indices, bogus GDP metrics, petrodollar gangsterism, debt peonage imposed on the Global South, and an army neoclassical Chicago school bullshit artists – every year has seen more of American's natural domestic economy hollowed out, corporatized, institutionalized, financialized, what’s left of productivity rearranging around the ever-extending military industrial complex.
Too late to pump the brakes, it's a conundrum no US politician has the courage or the conviction to resolve. So they follow the short-term imperative of sustaining America one more year by voting for more trillions in appropriations budgets pumped direct from the Treasury into the moribund economy. The point of no return past long ago. From here on in, it's ‘full scale dominance‘ or a Mad Max catastrophic collapse. What else can they do?
Who's going to save their money in a bank that will steal it all whenever they feel like it?
Building an alternative SWIFT doesn't seem that hard. 99% of the effort will be in securing it from incessant cyberattacks from the USA.
Caitlin my dear - The two main economic arenas needing reform are Land and Money. Please consider advocacy for Public Banks and Land Value Taxation (commons Rent) instead of taxes on labor and production. Elite rule system stems from private profiteering in these two. Money is just a symbol system. Land, the Earth, is the Source. We must affirm that the Earth is the Birthright of All People..
There are limits to cops' assaults on their own people. France is approaching that limit.
The Germans are just beginning to taste the results of Neoliberal deindustrialization and the economic decline related to Nordstream sabotage, high energy prices, inflation, and the austerity that will increase under a war economy. Next winter breaks the camel's back.
''It seems unlikely to me that the emergence of a multipolar world will in and of itself produce any kind of wonderful utopia, and as Professor Richard Wolff explains the dollar's decline could potentially give rise to a lot of economic chaos and suffering. But at the very least the fall of US dollar hegemony would deprive one group of psychopaths a powerful weapon they should never have had, and could even end up impeding the empire's ability to ramp up for a global conflict between major powers — a conflict which must never occur.'' so this ALBERT WAS, IS AND IT WILL BE FOREVER RIGHT> > “Every time I hear a political speech or I read those of our leaders, I am horrified at having, for years, heard nothing which sounded human. It is always the same words telling the same lies. And the fact that men accept this, that the people’s anger has not destroyed these hollow clowns, strikes me as proof that men attribute no importance to the way they are governed; that they gamble – yes, gamble – with a whole part of their life and their so called ‘vital’ interests.”- Albert Camus (1978). “Notebooks, 1935-1942”, Harcourt....100% RIGHT!
How Empires Collapse, pretty accurate to challenges we are facing right now https://www.reddit.com/r/chomsky/comments/12aaj07/how_empires_collapse_pretty_accurate_to/
An excerpt from Peter Dalio's longer YouTube that talks about the cycle of empire.
Dalio is one of the Oligarchy. He is perhaps one that Nader was talking about in his book "Only the Super-Rich Can Save US". http://onlythesuperrich.org
He's mostly invested in China I guess so perhaps he's just figuring out a way of fleeing with his wealth to China. Or maybe ... Folks may want to watch his entire video https://www.youtube.com/watch?v=xguam0TKMw8
I can't say I'm happy about events, but I sure am tired of living in a Fascist state (USA, although I think Australia, being a US vassal, it probably also).
This has always been the primary goal of U.S. policy - protecting the reserve currency of the U.S. dollar, or as I call it "protecting the magic printing press." And, yes, rampant "manipulation" has been used for decades to achieve this result. That's why gold and silver "markets" have been manipulated for so long. The Status Quo Protectors know that they have to impeach/impugn people who believe in other forms of "money." Thus, these proponents of "history's money" or "real money" became gold "BUGS" - a dirty insect that should be squashed. The same tactic was used to malign critics of Covid "vaccines" as "anti-vaxxers" or "science deniers."
Yes, follow the money ... and all the money really comes from a magic fiat printing press, which would be destroyed if "faith" in the U.S. dollar somehow evaporated.
Thank you Caitlin - timely as always. The odious uniparty at display, once again.
I enjoy Tucker Carlson but always cringe that disgusting Hannity follows him daily
Instead of making friends and promoting peace, America continually ramps up rhetoric for war. Financial then physical.
The world finally realized that America's money is ghost money. It doesn't exist.
We don't need your permission to live our lives in peace, America. Just go away.
It’s their time; nations all over the world have been waiting for it. And ironically the hegemony brought all this on itself. They finally bit off more than they can chew by underestimating Russia. It took this ignorant bunch of warmongers to come along right a check their butt couldn’t cash.
The Eurasian community is forming so quickly that’s it hard to keep up, along with the speed by which the dollar is losing market. There are a half dozen countries for sure and many more are in process of using alternative currencies for trade among themselves. The last time I checked a few weeks ago the dollar had lost 40%of it’s market internationally.
So then, what do you when the body has a part with gangrene threatening to spread. That part has to be removed in order to save the rest of the body.
In the community of the world that infectious body part is our own collapsing financial system. Which as you know is no longer a industrial capitalist system but rather a financial capitalist and it’s failing. KSA said the decrease in oil is directly related to instability of the U.S. banking system.
So what to expect?
Expect Biden to announce cuts to social services programs such as SSI and Medicare after raising the minimum age of course.
Of course this will exasperate the economy but then we expect that from the maniacs in DC.
As rightly assumed by Jeff all democrat failed banks(which will be largest national banks) cities and states will certainly be rescued with bailouts.
I also add when the Walmarts, Cracker Barrel’s and McDonalds etc,start shutting down and moving out so will the other businesses such as Starbucks and smaller fast food chains.
That void will be filled with the very worst of humanity.
It was inevitable that the empire of the rules based order fall. All empires fall according to this one principle; spiritual collapse always precedes the collapse of an empire. When the internal supporting structure becomes soft with rot the external structure folds in on itself.
I’ve been reading outside the western media propaganda machine the rest of the world is making plans not be anywhere near when the U.S. falls.
BRAVO !!!
https://thedreizinreport.com/2023/04/02/tranny-agenda-bs-is-nothing-new-just-another-classic-american-hysteria/ -- dreizinreport on April 2, 2023
with Daria Stavrovich: “Circles on the Water” -- https://www.youtube.com/watch?v=wGjcJTrG4uc&t=233s
This is pumped up Theatre of the Absurd, surely. When you can't keep up with sanctions , which by now must constitute a sizeable bureaucracy in itself, something has gone really wrong. And really wrong again when you studiously undermine your own world currency status, and suffer from the runaway inflation you want to inflict on others (blowing up pipelines? A Zen puzzle - they did it they didn't do it - at the same time). Well, let them figure it out. They're good at that.