Unz: The War in Ukraine Marks the End of the American Century
Sir Isaac Newton’s third law of physics was, “For every action, there is an equal and opposite reaction.” While that is not completely applicable in international politics, the reality is that there are ‘unintended consequences’ with sanctions, threats, tariffs, military interventions, etc.
US trade policies, sanctions, and the weaponization of its dollar have increased the desire of many nations to topple the US dollar’s position as the world’s primary reserve currency.
The Unz Review posted the following:
The War in Ukraine Marks the End of the American Century
Here’s your ‘reserve currency’ thought for the day: Every US dollar is a check written on an account that is overdrawn by 30 trillion dollars.
It’s true. The “full faith and credit” of the US Treasury is largely a myth held together by an institutional framework that rests on a foundation of pure sand. In fact, the USD is not worth the paper it is printed on; it is an IOU flailing in an ocean of red ink. The only thing keeping the USD from vanishing into the ether, is the trust of credulous people who continue to accept it as legal tender. …
There was a time when the dollar was the strongest currency in the world and deserved its spot at the top of the heap. Following WW1, the US was “the owner of the majority of the world’s gold” which was why an international delegation “decided that the world’s currencies would no longer be linked to gold but could be pegged to the U.S. dollar, “because the greenback was, itself, linked to gold.” …
But now the gold is gone and what’s left is a steaming pile of debt. So, how on earth has the dollar managed to preserve its status as the world’s preeminent currency?
Proponents of the dollar system, will tell you it has something to do with “the size and strength of the U.S. economy and the dominance of the U.S. financial markets.” But that’s nonsense. …
The real reason the dollar has remained the world’s premier currency is because of the cartelization of Central Banking. …
Bottom line: It is the relentless manipulation of interest rates, forward guidance and Quantitative Easing (QE) that has kept the dollar in its lofty but undeserved spot.
But all that is about to change due entirely to Biden’s reckless foreign policy which is forcing critical players in the global economy to create their own rival system. This is a real tragedy for the West that has enjoyed a century of nonstop wealth extraction from the developing world. Now– due to the economic sanctions on Russia– an entirely new order is emerging in which the dollar will be substituted for national currencies (processed through an independent financial settlement system) in bilateral trade deals until– later this year– Russia launches an exchange-traded commodities-backed currency that will be used by trading partners in Asia and Africa. Washington’s theft of Russia’s foreign reserves in April turbo-charged the current process which was further accelerated by banning of Russia from foreign markets. In short, US economic sanctions and boycotts have expanded the non-dollar zone by many orders of magnitude and forced the creation of a new monetary order.
How dumb is that? For decades the US has been running a scam in which it exchanges its fishwrap currency for things of genuine value. (oil, manufactured goods and labor) But now the Biden troupe has scrapped that system altogether and divided the world into warring camps. …
Is Europe going to split with Washington and leave America to sink beneath its $30 trillion ocean of red ink?
Yes, that’s exactly what it means. …
As the dollar-zone shrinks, standards of living will plunge, unemployment will soar, and the economy will go into a downward-death spiral.
Washington has greatly underestimated its vulnerability to catastrophic geopolitical blowback that is about to bring the New American Century to a swift and excruciating end. 06/07/22 https://www.unz.com/mwhitney/the-war-in-ukraine-marks-the-end-of-the-american-century/
The Anglo-American dominance of the world order is coming to an end.
Yes, Europe will decouple from the USA.
Yes, USA debt will be a factor.
As far as gold decoupling goes, around 1961 the USA was starting to not have enough gold to back its dollar. Notice something that the old the Plain Truth magazine reported over 60 years ago:
Germany, Japan have the largest surpluses of GOLD and DOLLARS…Rich Uncle {Sam} has the greatest deficit in governmental history and a GREATER DEBT than all the REST OF THE WORLD COMBINED!…
Vast foreign aid programs drain the U.S. Treasury…American spending to supply services and to support our troops in foreign countries and military installations around the world amounts to … dollars flowing out of the frightened U.S. Treasury. All of these factors, combined with heavy taxes, gigantic public and private debt, and no gold backing for our own currency if foreign investors demanded gold for their dollars, adds up to the staggering revelation that the U.S., richest nation in the world, is bordering on bankruptcy! (Hill DJ. What the US Gold Crisis Means to You. Plain Truth. February 1961, p. 9).
France did finally cash in dollars for gold and this caused a crisis in the USA.
The USA went off the gold standard completely in 1971. About the same time it made a deal with Saudi Arabia to price oil in dollars. So, while this prevented “foreigners” from being able to redeem US dollars for something from the USA treasury, instead it meant that dollars could be used to buy oil. As other (mostly smaller) oil producers followed Saudi Arabia’s lead, this has served to support the US dollar for several decades.
In the past few years, Saudi Arabia has threatened to ditch the ‘petro-dollar’ if the US passed certain legislation (see Saudi threatens to ditch ”Petro-Dollar’ trade scheme).
What is the petrodollar?
Essentially, it is the fact that although the US dollar is no longer backed by gold, since most oil is priced in US dollars, that gives the US dollar a type of backing in a broadly needed commodity. This insures that, internationally, the US dollar will have value. So it is sometimes called a petrodollar.
Further notice:
After the collapse of the Bretton Woods gold standard in the early 1970s, the U.S. struck a deal with Saudi Arabia to standardize oil prices in dollar terms. Through this deal, the petrodollar system was born, along with a paradigm shift away from pegged exchanged rates and gold-backed currencies to non-backed, floating rate regimes.
The petrodollar system elevated the U.S. dollar to the world’s reserve currency and through this status, the U.S. is able to enjoy persistent trade deficits, and become a global economic hegemony. The petrodollar system also provides the United States’ financial markets with a source of liquidity and foreign capital inflows through petrodollar “recycling.” However, before the effects of the petrodollars on the U.S. dollar can be examined, a brief history lesson is in order. …
Since the most sought after commodity in the world–oil–is priced in U.S. dollars, the petrodollar helped elevated the greenback as the world’s dominant currency. In fact, according to the Bank for International Settlements (BIS) triennial survey, 87 percent of all foreign exchanges deals initiated in April 2013, involved the USD on one side. With this status, the U.S. dollar was able to enjoy, what some have asserted to be an “exorbitant privilege” of perpetually financing its current account deficit by issuing dollar denominated assets at very low rates of interest, as well as, becoming a global economic hegemony.
For instance, countries like China, who hold vast quantities of U.S. debt have voiced their concerns in the past about the possible dilutive effects to their asset holdings should the dollar depreciate. However, the privileges associated with being able to run persistent current account deficits come at a price. As the reserve currency, the U.S. is obligated to run these deficits to fulfill reserve requirements in an ever in an ever-expanding global economy. If the United States were to stop running these deficits, the resulting shortage of liquidity can pull the world into an economic contraction. However, if the persistent deficits continued ad infinitum, eventually foreign countries will begin to doubt the valuation of the dollar and the greenback may lose its role as the reserve currency; this is known as the Triffin Dilemma. http://www.investopedia.com/articles/forex/072915/how-petrodollars-affect-us-dollar.asp#ixzz4iqqtZ9CU accessed 06/02/17
The decoupling of pricing oil in USA dollars also will lead to more inflation in the USA. There are a lot of costs in what the USA has been doing.
The time will come when the USA dollar will be worthless and gold will be even more valuable.
The Russians (see ‘Russia’s Putin declares an end to Western currencies, says world moving towards “real reserves” including “land, food, gold”’) and Chinese have been making gold moves (watch US Dollar being challenged by Gold-Petro-Yuan). Russia and China are working towards a world where the US dollar is not the world’s primary reserve currency and a world where gold rises up (see The End of US Dollar Dominance).
If enough oil producing nations stop pricing oil in US dollars (Russia and Iran have been doing this, but have not yet gotten many other oil suppliers to go along with them), the theory is that the US dollar will drop, or even collapse.
The massive debts of the USA will be a factor:
6 “Will not all these take up a proverb against him, And a taunting riddle against him, and say, ‘Woe to him who increases What is not his — how long? And to him who loads himself with many pledges’? 7 Will not your creditors rise up suddenly? Will they not awaken who oppress you? And you will become their booty. 8 Because you have plundered many nations, All the remnant of the people shall plunder you, Because of men’s blood And the violence of the land and the city, And of all who dwell in it. (Habakkuk 2:6-8)
Actually, with an admitted debt of over $30 trillion dollars and plans to increase that much further, the USA has increased pledges more than any nation in the history of the planet. Foreign creditors will rise up.
The Russians, Chinese, Iranians, and others–including the Europeans– are also taking steps to topple US dollar dominance.
The existence of the ‘petrodollar’ seems to have helped the USA be in a position to increase its debt and that will not end well (cf. Habakkuk 2:2-8; Daniel 11:39; see also USA in Prophecy: The Strongest Fortresses).
But the USA through its debt increases and dollar weaponization is shooting itself.
Although secular sources do not realize it, many events are aligning with properly understood biblical prophecies.
Some items of possibly related interest may include:
Might the U.S.A. Be Gone by 2028? Could the USA be gone by the end of 2028 or earlier? There is a tradition attributed to the Hebrew prophet Elijah that humanity had 6,000 years to live before being replaced by God’s Kingdom. There are scriptures, writings in the Talmud, early Christian teachings that support this. Also, even certain Hindu writings support it. Here is a link to a related video: Is the USA prophesied to be destroyed by 2028? In Spanish: Seran los Estados Unidos Destruidos en el 2028?
USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. Two related sermon are available: Identifying the USA and its Destruction in Prophecy and Do these 7 prophesies point to the end of the USA?
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin? A related sermon is also available: The Bible, the USA, and the King of the West.
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold? Two videos of related interest are Beast Prophecies and European Gold and Germany, Gold, and the US Dollar.
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? In the Spanish language check out ¿Quién es el Rey del Norte? Here are links to two related videos: The King of the North is Alive: What to Look Out For and The Future King of the North.
The Great Monarch: Biblical and Catholic Prophecies Is the ‘Great Monarch’ of Catholic prophecies endorsed or condemned by the Bible? Two sermons of related interest are also available: Great Monarch: Messiah or False Christ? and Great Monarch in 50+ Beast Prophecies.
Jesus Returning, David’s Throne, and the Stone of Destiny Will Jesus return to the throne of David? What about the Stone of Scone? Here is a link to a related video: Stone of Destiny and Jesus’ Return.
The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
Physical Preparation Scriptures for Christians. We all know the Bible prophecies famines. Should we do something? Here is a version in the Spanish language Escrituras sobre Preparación física para los Cristianos. Here is a link to a related sermon: Physical preparedness for Christians.
Is God Calling You? This booklet discusses topics including calling, election, and selection. If God is calling you, how will you respond? Here is are links to related sermons: Christian Election: Is God Calling YOU? and Predestination and Your Selection. A short animation is also available: Is God Calling You?
Christian Repentance Do you know what repentance is? Is it really necessary for salvation? Two related sermons about this are also available: Real Repentance and Real Christian Repentance.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be: Are Chinese threats against Australia for real?
Will the Anglo-Saxon-Celtic Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves? Here is a related item in the Spanish language ¿Serán divididas las naciones anglosajonas?
British are the Covenant People What do ‘British’ and ‘Britain’ mean in Hebrew? Are the descendants of the Anglo-Saxons people of the covenant? Does the British royal family connect to the throne of David? What does the Bible teach? What does history show us? Is there any DNA evidence related to British-Israelism? When did Christianity make it to the British Isles? Could Jeremiah have made it to the British Isles? What type of Christians made it to the British Isles? Did the last King of England believe in British Israelism?
Canada in Prophecy: What Does Bible Prophecy, Catholic Prophecy, and other Predictions Suggest About the Future of Canada? There are prophecies that suggest involvement with Canada. And many are not positive about its future. A sermon of related interest is also available: Canada in Prophecy.
Australia and New Zealand in Prophecy Do biblical prophecies help explain the wealth blessings for Australia and New Zealand? Might cursings from disobedience come in the 21st century? Here is a link to a related sermon: Australia and New Zealand: Origins and Prophecy.
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2030 or 20xx? There is also a video titled 6000 Years: When will God’s Kingdom Come? Here is a link to the article in Spanish: ¿Tiene Dios un plan de 6,000 años?
When Will the Great Tribulation Begin? 2022, 2023, or 2024? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede la Gran Tribulación comenzar en el 2020 o 2021? ¿Es el Tiempo de los Gentiles? A related video is: Great Tribulation: 2026 or 2027? A shorter video is: Can the Great Tribulation start in 2022 or 2023? Here is a video in the Spanish language: Es El 2021 el año de La Gran Tribulación o el Grande Reseteo Financiero.
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