Category Archives: the IMF and World Bank

Delenda est Russia

The idea to destroy Russia is not a new idea for the West. The most recent example was in Germany, 1941- 1945. The US declared war on Germany only after the German declaration of war on the US, which resulted from the Japanese sneak attack on Pearl Harbour, Hawaii. Hawaii at that time was a colonial possession of the US. Britain declared war on Germany after Hitler invaded Poland. Britain was obliged to honor its commitment to France. France and Poland were very close to each other, like hand in glove, but many in Britain opposed the declaration of war.

The Japanese attack on Pearl Harbour was choreographed by the US. The US embargoed the oil supply to Japan from all Western controlled oil sources. Also, Japan was forbidden the use of the Panama Canal. Japan had no choice: surrender or fight. So Japan chose to fight, hoping for a knockout blow. It didn’t work out however because the US broke the Japanese secret code. So the US decided to play the victim, leaving a few battleships in the Harbour; this Japanese venture was doomed to failure from the start. And the result: Japan is now an occupied country loaded with US military hardware.

The US played differently with Germany though. It declared war on Germany only after Hitler declared war on the US in December, 1941. By default, the US became a reluctant ally of Russia. Russia, alone, faced the combined might of Germany and all of occupied Europe. The British campaign in North Africa was a minor side show. The US lend lease to Russia was fully paid back by the USSR by the early 1950’s.

The Cold War started at the end of the Second World War. But even before the war ended, Churchill had suggested, ‘Operation Unthinkable’: Britain and the US to join the Wehrmacht in fighting the USSR. The decay of the USSR started with its de-Stalinization under the leadership of Nikita Khrushchev. The USSR was kaput by 1991. A decade of plunder began under Boris Yeltsin, and the end of history was proclaimed. Had Western liberalism triumphed?  US hegemony was peaking and Russian weakness was bottoming out.

By 2000, Russia was weak but not defeated. Under a new leader it rose like the Phoenix from the ashes, resilient and getting stronger by the day. And all along since 1945, the US has been playing the dollar card. All the financial games of the world have been controlled by US institutions: the Federal Reserve, the IMF, the World Bank, the Bank for International Settlements, and the Bank for International Development.

After the Ukrainian coup d’état of 2014, the US decided to destroy Russia economically and it applied an economic squeeze; they attacked the ruble. In a matter of weeks, the ruble dropped from around 29 to the dollar to over 70 to the dollar. Oil prices collapsed from near a hundred dollars per barrel to less than thirty dollars per barrel. This hurt Russia badly, but Russia did not buckle. The West then applied sanctions on Russia. They tried using SWIFT, Society for World Wide Financial Transactions, to ban Russian transactions but backed off; Russia now has its own version of SWIFT.

The Third Law of Motion states: For every action there is an equal and opposite reaction. Russia banned agricultural products from the West. It stopped using Baltic state ports and rail systems which had been built by the Soviets. The result: hardship for the farmers of the EU and severe economic injury to the Baltic republics. Russian agriculture is now booming. Russia has become the number one wheat exporter in the world. Western sanctions should remain permanent because they only help the Russians, they are a blessing in disguise. It must be understood, Russia is an autarchic power par excellence, the only one in the world; it cannot be destroyed economically.

Russia cannot be destroyed economically, because Russia is an autarchic power. So, the West will try  to control Russia militarily by using enhanced nuclear weapons which are very unique. Whether the Russians or the Chinese have any inkling of these weapons is unknown. China and Russia must be destroyed at the same time for the West to be successful. That is the theory and the belief of the planners. However, the destruction of the planet Earth, will more likely be the result.

Negative Energy Flow

The essence of the Universe is energy. This essence is constant, contracting, or expanding, but nobody knows for sure. The essence of our solar system is the sun, and without  the sun there would be no life on the Earth. They say that the energy of the sun is slowly dissipating, but is still good for about several billion years before it dies. But this is just a hypothesis. In fact nobody knows for sure.

We know that economic systems develop, grow, and then go into a collapsing phase and die, but the remnants of the previous systems become key components of the new system. For instance, the chief components of capitalism are usury and a modern version of slavery which are the chief remnants of two previous systems, slavery and feudalism.

Without the discovery of the New World by Christopher Columbus in 1492, capitalism would most likely have not developed. In my earliest posts, I stated that Christopher Columbus is the Father of Capitalism. The center of capitalism became Western Europe and North America, especially, the United States.

The United States had positive energy flow when the first Dutch and English colonists stepped into North America. The land was abundantly rich and it needed  workers to exploit it. Slavery was introduced and for 250 years, slavery was the main source of wealth extraction and accumulation  for the ruling elite of the new country. The tobacco and cotton plantations needed slaves. The trade in slaves  was very prosperous as well. Many Americans were also involved in opium trade with China, which was the monopoly of the British East India Company. It was the first giant global company, a forerunner of modern American and European corporations. Adam Smith who wrote the capitalist bible,’ The Wealth of Nations’ was an officer of the Company. His view of the ‘Invisible Hand’ that runs the market is more to the fact that the British East India Company methods of conquest and control stayed invisible as to how they got control of all of  India, Pakistan, Bangladesh, Sri Lanka, and Burma. They also wanted to keep opium trade with China and the Afghani Wars for control of opium invisible.

Americans wanted to take part in the opium trade with China, and that is one of the main reasons why the Americans wanted independence from Britain. Forget about: ‘ No taxation without representation’; it was just a façade like ‘ the weapons of mass destruction’ in Iraq. British rule of its North American colonies was rather gentle. British taxes were barely one percent on tea. One third of American colonists moved to the Canadian Provinces of Nova Scotia, New Brunswick, Prince Edward Island, Quebec, and Ontario. They were known as United Empire Loyalists. Benjamin Franklin’s son left for England.

After the Declaration of American Independence of 1776, the Slave Trade of the North Atlantic and Opium Trade with China boomed, even though Europeans were losing interest in slave trade on moral and ethical grounds. Remember, ‘Amazing Grace’ was composed by a former slave trader in 1805, but the abuse of Africa still continues.

After the Civil War and the emancipation of the slaves, the US economy exploded. By 1900,  the US was the number one manufacturing nation in the world, by quantity and not by quality.  Germany was number one in quality and second in quantity. Attempts were made to create a private Central Bank of the United States, but failed until December 23, 1913. Alexander Hamilton, the first US Treasury Secretary wanted a private central bank. In a duel with Aaron Burr, the Vice-president, Hamilton lost his life. President Andrew Jackson, the 7th President, aborted the second attempt at creating a private central bank. Abraham Lincoln, probably the greatest President of the US, stopped the third attempt. He used ‘ Green Backs’ to finance the war rather than borrow from private banks. He paid with his life in 1865. James Garfield, the 20th President paid with his life for stopping the private central bank. Finally, Woodrow Wilson, the 28th President of the US acquiesced on Dec. 23, 1913.

The Central Bank of the US would be called the Federal Reserve Bank of the US. It would be composed of 12 regional or district banks. The first amongst equals would be the Federal Reserve Bank of New York, and it would act as a financial life line to Wall Street. The Federal Reserve was key in pushing the US into the First World War. Germany was winning the War. They sank the Lusitania on May 7th, claiming it was carrying weapons to Britain. True! Britain denied it. Lie! The US kept quiet until 1917. Britain panicked that Germany would win the war and Russia, an ally of Britain and France would conquer Constantinople. Britain then promised  Constantinople to Russia but had no intention of keeping it, hence Churchill’s disastrous Gallipoli Campaign to capture Constantinople.

The World Zionist Movement wanted to create a homeland for the Jews in what would be British occupied Palestine. And if the British agreed, it was agreed that the US would enter the war on the side of Britain and France. They would also eliminate Russia from the war and Constantinople would not fall to Russia. Also, Italy, an ally of Germany, would enter war on the side of Britain and France. The Balfour Declaration of Britain in 1916 allowed unrestricted Jewish settlements  of Palestine. As if by magic, the US enters the war under the cry, ‘Remember the Lusitania’, Trotsky leaves New York with 20 million in gold, Lenin leaves Switzerland in a sealed train for St. Petersburg to start a Bolshevik Revolution. Italy enters the war on the side of the Allies, and bank credits to Germany stop.

In 1917, the US enters the war, and the US tobacco industry wants to help ‘our boys’ fighting in the trenches by supplying them with free cigarettes, and tobacco addiction began. When women won the right to vote in 1920, they were supplied with free cigarettes to celebrate their independence. The boom of 1920 began, and the inventions of Nikola Tesla changed the US;  alternating current, fluorescent lighting, the invention of radio, wireless energy, etc. Marconi did not invent the radio, but sent the first radio signal from Liverpool, England to Gander, Newfoundland based on Tesla’s principles. The boom collapsed in 1929, but the US had positive energy flow. It had the most gold in the world, the strongest currency, positive balance of trade, and could interfere in Latin America with impunity. Hence, it had positive energy flow.

The Second World War enhanced this positive energy, and by 1944, it was able with the help of Great Britain to create the Bretton Woods Convention which crowned the dollar as the official currency of the world. The only opponent was the USSR which had won the war against Nazi Germany.

The US had positive energy flow until a gold run in 1968. The European countries wanted to exchange their trade surpluses for gold. By 1971, the US defaulted on its gold promise. By 1973, President Nixon and Secretary of State Kissinger created the petro dollar. The dollar debt finance of the US and the Third World became the Modus Operandi of the day. IMF and World Bank were loan sharking all over the world, including some Communist countries of Eastern Europe such as Hungary, Poland, Romania, and Yugoslavia.

Consumerism or lack thereof in the Soviet Union led to the dissolution of the Soviet State, even though the basic living standard of the Soviet citizen was higher than that of US citizens. The Soviet citizen enjoyed free education, free health care, public transportation, generous maternity leave and generous holidays. US citizens have none of this in 2016. And the irony is that the Soviet State dissolved and the US still stands. Barely. The people of the US are very angry, and they want change, either by evolution or revolution. The 95 percent of Americans which I call the Precariat Class have barely enough money to survive. The energy flow of the Precariat Class is extremely negative, and never in its entire history has the US faced such a situation.

No wonder Mr. Donald Trump is popular and the Ruling Elite and its overseer class is fearful. The US must restructure its economic system and enable the Precariat Class to have a chance. Change in the US is inevitable either by evolution or by revolution. If it is by revolution, fragmentation of the US is inevitable. Only time will tell.

 

The Dollar Armageddon

The essential plan of the West is total domination of the Earth, which would result in the flow of all natural resources and all natural wealth to the International Community of the West from the rest, as was done under Colonialism. This new phase of exploitation is being carried out under the banner of Globalization. The Anglo-Americans, the British Empire and the US, were the organizers of the new financial system in 1944 at Bretton Woods, New  Hampshire, US., today known as the Bretton Woods Agreement. The chief players were John Maynard Keynes of the UK, Harry Dexter White, and Henry Morgenthau Jr. of the US Treasury.

The Anglo-Americans realized that the Colonized World wanted to be decolonized and independent, and since they could not prevent decolonization, they decided they could slow it down and install their own puppets. Any new leader who rebelled against Western control would be overthrown or even killed. Winston Churchill proclaimed the Cold War against the USSR in 1947 in Fulton Head, Missouri, USA. Patrice Lumumba of the Belgian Congo comes to mind. He was impaled and killed in 1961.

Globalization began. Beautiful phrases, such as “Food for Peace” programs were used to entrap  newly independent states. Foreign Aid was used not to help but to enslave. The International Monetary Fund{IMF}, and the World Bank were the chief agents of debt enslavement.The Cold War was in full swing.

Despite the massive destruction of the USSR caused by the German invasion in the Second World War, the basic living standard of the Soviet Union was higher than that of the US.  Housing was tight, and families lived together in cramped quarters because of the war destruction, but the Soviet People had jobs, free education, free health care, one month vacation, and one year maternity leave with pay. Public transportation was available. Just compare the metro systems of the two countries in the nineteen fifties. Basic consumer goods were available, but an abundance of consumer goods was not. The Soviet People had job security and a sense of serenity which was not available to the West.

Western policy makers decided to push three things on the world: abundant consumerism vs socialist austerity, wide spread debt at home and abroad, and world-wide militarization as exemplified by NATO, SEATO, and CENTO*; in other words globalization. US banks and corporations were everywhere. American Culture, food, and military bases were everywhere; the US was omnipotent. Credit cards were introduced in the 1960’s. (Remember the commercial for American Express? “Don’t leave home without it.”) Western corporations yearned for profit and huge profits were associated with cheap labour. Western factories were moving East to China, when China opened up in 1979, and to other countries of the East and South as well.

Wages in the US were deteriorating for the working class since the early sixties of the last century, but the US corporation has been doing great. In the 18th and 19th centuries Western corporations were moving slaves from Africa to the plantations of North America, the West Indies, and South America. In the latter half of the 20th Century and the beginning of the 21st Century, corporations have been moving their plantations, factories, to the slaves. 95% of Americans today belong to what I call the Precariat Class, a totally dispossessed economic class.

In 2016, Americans still don’t have tax based universal health care, no free education of superior quality, no affordable housing, no public transportation, and outright home ownership is only around 11%. No wonder Americans are angry, and this is why Donald Trump is winning. The ownership class cannot stop him in an “honest way”, so they will try to stop him either by hook or by crook. Massive demonstrations may occur in defense of Trump. Martial law may be imposed, and the presidential election may be postponed or even cancelled.

Economic conditions are no better. Real unemployment is high, anywhere from 20% to 42%. Wages are stagnating. Ninety million Americans are not working. Obesity, a side effect of the American economic system, is in epidemic mode. Sixty six percent are obese and thirty seven percent are morbidly obese. Chronic diseases such as diabetes, hypertension, cancer are rampant. Life expectancy is going down. Basic infrastructure is collapsing. People are over medicated. Grocery stores are full of embalmed, genetically modified food ( but beautifully packaged!). All for profit, and without giving a damn about people or the environment. Just look at Flint, Michigan and their drinking water. The US, the hope of mankind, is becoming a third world country.

The world economy is no better. Much of the world is either in severe recession or depression. The Baltic Dry Index has imploded, with slight improvement lately. World consumption has collapsed, hence massive slowdown from South Korea to Germany. Japan is in perpetual depression. China is slowing down. Latin America, Africa, and South Asia are either in near or full depressions. Canada, Australia, the European Union are either in severe recession or are entering one. The Ukraine is on the verge of exploding. The Middle East is a cauldron that will enlarge. The only area of stability is Russia and the Commonwealth of Independent States. Sanctions against Russia are great blessings in disguise. Import substitution and self reliance are engines of growth and power. Presently, Brazil and Venezuela are being destabilized from outside and inside.

In summary, unnecessary consumption is collapsing world wide. Debt in dollar terms is still growing  but at a snail’s pace. World wide trade is collapsing. Countries with an independent foreign policy such as India, Iran, China, Russia, and others are accumulating gold and shunning the dollar. This is a nightmare for the US. It is quite possible that some obscure company somewhere in the South Asian region will reject trade in dollars, but will accept gold or Chinese yuan. Panic will set in. The dollar could drop by twenty percent in overnight trade. Gold and silver would sky rocket. Trade between the US and the world would collapse. Interest rates in dollars would rise to an unbelievable level, but would not help the dollar. The US could not import anything with its currency, but only with gold or some foreign currency which was convertible to gold. The Armageddon of the dollar is coming. The ownership elite of the US will know for the first time in its history what it’s like to actually work for a living rather than living off the suffering and labor of others. My analysis is very, very correct and true but only time will reveal that.

 

*= NATO: North Atlantic Treaty Organization SEATO: Southeast Asia Treaty Organization

     CENTO: Central Treaty Organization

 

 

 

Will the dollar be defended to the end?

In many  of my previous posts, I have stated that the US Economic System is based on three pillars of paper, and all three of these are based on debt. The three pillars of paper are the dollar, the bond market, and the stock market. Of the three, the dollar is the most important because it is the essence and instrument of US power. In the 1951 film version of Charles Dickens’ short story “A Christmas Carol”, there is a character, Mr. Jorkin, who says: “Control the cash box and you control the world”. The US has been controlling  the world since 1944, when the Bretton Woods Agreement was signed. The dollar became the reserve currency connected to gold at 35 dollars an ounce, and other convertible currencies were connected to the dollar. Nearly all trade and debt was denominated in dollars. Economically and financially speaking the world became dollar centric.

However, the dollar is still connected to gold, because the dollar without gold is like a fish without water. It cannot exist as the Reserve and Official currency of the world. It can only exist as the local currency in the US, because in the US, the dollar is the Legal Tender. The Petro Dollar depends on the whims of OPEC. It is not reliable. Gold, on the other hand, has the full backing of Mother Earth. Gold was created  when the Universe was created, and has the Energy of the Sun. Petroleum can be consumed, but gold cannot be consumed nor destroyed.

For the dollar to be convertible into gold, gold must be available in dollar terms at any price anywhere in the world. If that relationship ceases, the dollar can no longer be the reserve currency of the world. Powerful non Western countries are accumulating gold on the cheap, at around eleven hundred dollars an ounce. In one of my previous posts I stated that gold is leaving the West and going to the rest, especially to the East.

There is a “purpose” to this lunacy. By keeping the, dollar “artificially” strong, the US is destroying the countries of the world which are indebted in dollars. They are further pushed into economic slavery by the International Monetary Fund, {IMF}, and the World Bank. Both banks are agents of the US, despite international sounding names. Indebted nations are in severe depression. They are selling their natural resources for pennies on the dollar. They cannot buy any manufactured goods from China, South Korea, Japan, and Europe, so these regions are slowing down which further puts pressure on commodities. First world countries like Canada, Australia are entering severe recession, if not depression, while counties such as Brasil, Venezuela, Argentina, and others are entering depression. The currencies of these and other countries are collapsing. Russia and China are special targets. These two countries must be destroyed or neutralized for the US to have  total world domination. High Noon is fast approaching.

Russia is the “special” target. Russia has the capacity to be totally self-sufficient as it was during Second World War when it was the Soviet Union.  Germany in 1942 controlled all of  Russia just west of Leningrad, west of Stalingrad. The Soviet Union could not be defeated despite the fact that Germany controlled all of Europe. A similar situation exists today. For the US to control the world it must subjugate Russia. How to do that? Simple: economically. The first stage was to tear the Ukraine from Russia. So far it has not succeeded. The Ukraine is a political, economic, and moral mess. It is on the verge of collapse. When the Ukraine collapses, people will rise up, take over, and join Russia. Nuclear war against Russia is unthinkable for it would mean catastrophe for Humanity and all life on Earth, although the possibility of nuclear war is at its highest ever. The only alternative is economic strangulation.

To strangle Russia you simply have to tear it apart economically. Because of the Ukraine and Crimea, sanctions were imposed by the West and the countries closely associated with the West such as Japan. The Russian currency was attacked and devalued but not destroyed. The oil price was made to collapse  with the help of Saudi Arabia and Gulf Arab States. Military pressure was applied on the president of Syria. Propaganda against Putin was increased. Russia calmly responded; counter sanctions against the West. They are hurting badly. Devaluation of the Ruble is essentially positive, but the low oil price is not. Russia is the number one oil producer in the world and exports two thirds of its oil. There is a cushion of profitability. Russia suffers but will not buckle.

Russia is fighting back. It is avoiding the dollar like the plague. It is signing trade deals with other countries in their respective currencies. It is developing its own SWIFT,or Society for Worldwide International Financial Transfers. It is also developing worldwide tele-communication systems which exclude the West. With the help of Iran and Hesbollah it is successfully fighting ISIS in Syria. Yemeni Houthis have check mated the Saudis in Yemen. The oil price collapse which the Saudis helped to engineer is hurting them economically. Rebellion is brewing in the country. The Shia, in the Eastern Provinces where the oil is, are very restless. Foreign workers and native Sunnis are also very restless. In one of my previous posts I stated that Saudi Arabia will first implode then explode. This will be very negative for the dollar.

China is being courted to let the renminbi join the IMF currency system which would enable the dollar to continue to be reserve currency of the world. China will play the game even though it does not trust the game because it has no choice; it is trapped in the US financial  web. China is trying to extricate itself slowly from this trap. China is buying gold and selling US Treasuries. It is expanding non US trade and aid using the renminbi; the dollar is under attack.

But the US is fighting back. The TPP, Trans Pacific Partnership, was negotiated with some South East Asian and Latin American countries. Japan, Canada, Australia, New Zealand, and Mexico are included. The idea behind the agreement is to consolidate the use of the dollar in trade. A similar agreement is being negotiated with the European Union, the Trans Atlantic Trade and Investment Policy. Will the US succeed in keeping the dollar official currency of the world?Nobody knows.

If the dollar is dethroned, it will be catastrophic for the US. The US will lose the instrument of enslavement. It will no longer be able to exploit the rest of the world through usury. It will no longer be able to finance itself without inflation, followed by hyperinflation. It will no longer be able to maintain military bases in other countries and project its power. The US stock and bond markets may collapse, and the dollar may follow. The people who control America are strong believers in the saying: “It is our way or the highway”. “High Noon” is around the corner. If the US fails, it will become the third world country of North America. In many ways, it already is. Only time will tell.

 

 

 

 

 

How much is the dollar really worth?

The dollar is a fiat currency. It is created out of thin air through debt. A person goes to the bank and wants to borrow 10,000 dollars and if the borrower meets the criteria of paying back the sum plus interest agreed on, the bank issues a cheque of 10,000 dollars or direct deposits the amount to his account. Money has been created out of nothing to enslave that person for 10,000 dollars which he must now pay back at a certain interest rate for a specific period of time. In other words, he sells his labour, his life force, to pay the debt. He is exploited, he is a slave. This is the essence of capitalism, and the fiat currency is an instrument of enslavement.

Initially, the dollar was a gold backed currency as were other world currencies. President Franklin Delano Roosevelt, early in his presidency devalued gold from 20.67 dollars an ounce to 35 dollars an ounce. Also, he made it illegal for Americans to own gold, unless it was in a jewelry form of 18 karats or less. The Bretton-Woods Convention made the dollar the Reserve Currency of the World. The US would keep the gold and the rest of the world would keep the dollars. Other central banks could exchange dollars for gold at 35 dollars an ounce. Gold, however, would be stored in the US and some would be stored in London. This arrangement was propped up by fear that “the Communists” would take over if the gold was not stored in the US. Publicity  made Fort Knox, Kentucky, infamous as the storage place  for the world’s non-communist gold. General Charles de Gaulle, President of France, was not fooled. He realized it was the perfect scam. He had never trusted the Anglo-Americans. He knew how perfidious they were during the Second World War II. The Anglo-Americans hated him, and of course, he reciprocated. He withdrew France from N.A.T.O. and sent French warships to retrieve French gold from the US. Other European countries followed. A run on gold followed…

The gold drain from the US followed. President Nixon closed the Gold window. This closure was permanent, contrary to the President’s statement that  it was temporary. The US was running trade deficits and the Vietnam War was draining the country of its real wealth, gold. The dollar paper drainage was no big deal, because it was only paper. The Arab oil embargo saved the dollar and the US. The US told the oil producers to increase the price of oil but just have it denominated in dollars. The excess dollars of the world poured into US treasuries and helped finance government operation. The decade of 1970’s showcased growth throughout the world but with inflation. Gold was allowed to reach its equilibrium value of 850 dollars an ounce. Silver, taken out of circulation in 1965, went to 50 dollars an ounce in 1979-80. Interest rates were high because demand for money was high. Demand for real money, gold and silver, was high. But the dollar was losing value. In 1969, one could get four Swiss Francs for one dollar, but in 1979-80 period, the Swiss Franc was on parity with the dollar.

President Carter appointed Paul Volcker Chairman of the Federal Reserve Bank. The Prime Rate went to almost twenty percent. The price of precious metals collapsed and value of the dollar rose. Money from all over the world poured into the US. By 1992, the USSR and communism had disappeared in Europe. The end of history was proclaimed. The plunder of the ex-USSR and Eastern Europe, along with the rest of the world began with increasing tempo. A unipolar world of ten years duration was achieved. In Nature, when one extreme is reached, opposite forces start building momentum, and new forces started brewing on the horizon…

Vladimir Putin was appointed Prime Minister of Russia in 2000, and the economic decay started in the first decade of the New Millennium in the West. It is now worsening and encompassing the entire world. The central player in all this has been the dollar. It has no intrinsic value like gold, land or water, but is the instrument of US power. The US wants to maintain that power come hell or high water, and in order to maintain it, debt in dollar terms has to grow. The IMF and World Bank, along with other private organizations, are working overtime to trap more and more countries into unsustainable debt and milk them for all they are worth. This is the MODUS OPERANDI of capitalism…

But opposing forces are rising, and the de-dollarization of the world has began. The World is trying to dis-infect itself from the dollar. Very interesting and dangerous times are approaching. But the US will not willingly give up its instrument of power. It is negotiating trade deals with Europe, South America, and South East Asia to insure the dollar to be the supreme currency. It is confronting China in the South China Sea, but at the same time, it is enticing  it to join the IMF arrangement of Special Drawing Right Currency. The US wants the China to row the dollar-SDR boat, and the US would steer it. Whether China falls for it or not remains to be seen. China, Russia, Brazil, Iran, and other countries that have backbone are trading amongst themselves in their own currencies. The river of history is flowing and it cannot be reversed.

How much is the dollar really worth? Nothing. It is merely an instrument of power, intimidation, and war, like aircraft carriers. And history will be unkind to both. Only time will tell.