The very evident "boom" in the United States has clearly been fueled by the US’ exporting of inflation. How much was last year’s balance of trade deficit for the US? Was it not $750+ billion? How was the US able to get so much credit from other nations? I won’t bother to enumerate the ways that a debtor can get credit. There are a few, to be sure. But I think it is becoming fairly evident that the new "tool" being used is Democracy. So, world, give us what we want - or else. Otherwise, in the world court of opinion (the press), your countries will quickly be found deficient of Democracy. In which case we, the US, will be duty-bound to bring it to you, no matter what the cost in your lives. And when the dust clears and the flames subside, I just know the cost in lives "will be worth it."
After WW2, the US based the value of its dollar on its industrial capacity. That was not particularly difficult, since the industrial infrastructure of the rest of the world had been pretty much demolished. Then, in the 1970’s, the US switched to backing the dollar by making it the reserve currency for international transactions. This gradual switch was aided by the denomination of the oil transactions in dollars and several other factors, such as the cold war. By the early 1990’s the cold war ended. Other currencies are candidates for international transactions. The Euro, or maybe the gold Dinar, or maybe even the Ruble, backed by Russia’s substantial energy reserves. So now how will the US have its dollar accepted? How about war? Backed by the US’ big war machine, with stealth bombers, satellites, bomb-carrying drones and - the thousands of nukes - ready to bring "Democracy" to any nation that doesn’t respect the "value" of the dollar.
This is a grim picture. There are only two outcomes that I see. Either the world buckles to the US demands and feeds the US’ insatiatable voracity for treasure, willingly accepting worthless scrip (the dollar) in exchange, or World War ensues, brought to you by the biggest military apparatus ever to be on the planet.
Message to the world: quoting the Buddha, "Work out your own salvation."
The very evident "boom" in the United States has clearly been fueled by the US’ exporting of inflation. How much was last year’s balance of trade deficit for the US? Was it not $750+ billion? How was the US able to get so much credit from other nations? I won’t bother to enumerate the ways that a debtor can get credit. There are a few, to be sure. But I think it is becoming fairly evident that the new "tool" being used is Democracy. So, world, give us what we want - or else. Otherwise, in the world court of opinion (the press), your countries will quickly be found deficient of Democracy. In which case we, the US, will be duty-bound to bring it to you, no matter what the cost in your lives. And when the dust clears and the flames subside, I just know the cost in lives "will be worth it."
After WW2, the US based the value of its dollar on its industrial capacity. That was not particularly difficult, since the industrial infrastructure of the rest of the world had been pretty much demolished. Then, in the 1970’s, the US switched to backing the dollar by making it the reserve currency for international transactions. This gradual switch was aided by the denomination of the oil transactions in dollars and several other factors, such as the cold war. By the early 1990’s the cold war ended. Other currencies are candidates for international transactions. The Euro, or maybe the gold Dinar, or maybe even the Ruble, backed by Russia’s substantial energy reserves. So now how will the US have its dollar accepted? How about war? Backed by the US’ big war machine, with stealth bombers, satellites, bomb-carrying drones and - the thousands of nukes - ready to bring "Democracy" to any nation that doesn’t respect the "value" of the dollar.
This is a grim picture. There are only two outcomes that I see. Either the world buckles to the US demands and feeds the US’ insatiatable voracity for treasure, willingly accepting worthless scrip (the dollar) in exchange, or World War ensues, brought to you by the biggest military apparatus ever to be on the planet.
Message to the world: quoting the Buddha, "Work out your own salvation."