US dollar in a cage. Photo credit: Reynaldo Brigworkz Brigantty (Pexels).
Original article by James De Burghe, March 14th 2023
What are the USA and its followers in NATO and the EU thinking of? Do they really believe that they are invulnerable? They have poured their national wealth into supporting strife, confrontation and outright warfare, into USA sponsored and contrived geopolitics without a thought of the global consequences of their actions. They have allowed the warmongers of the USA, Ukraine, Poland and the Baltic states to shape their political and geopolitical agenda. They have thrown aside their stated values of freedoms to do so, ignored the UN Charter, and worst of all believed their own propaganda.
The failed proxy war against Russia, quite apart from the horrific blood costs borne by the citizens of Ukraine who so far have suffered more than one million casualties, dead, wounded and missing, has made the world at large sit up and take notice, the failed sanctions and seizure of assets of Russia and Russian individuals has caused a ripple of alarm bells to ring across Asia, Africa, South America and the Middle East. The reaction of these regions has been quite clear, not only will they not support Sanctions against Russia but they have started to unite to ensure such sanctions cannot be used against them by dropping the dollar as an instrument of trade and reducing their dollar holdings. Even Japan, a staunch US ally, has quietly disposed of 15% of its dollar holdings in the past three months. China, who bailed out the dollar by buying trillions of dollars in the last major financial crisis has over the past five years disposed of 75% of its dollar holdings and is now quietly getting rid of the remainder. BRICS, a small gathering of nations in 2017, has now expanded dramatically and is now larger in economic terms than the G7. Along with the SCO, it is the main driving force of de-dollarization including the demise of the petro-dollar.
In contrast the Nations of the EU and NATO have increased their reliance on the dollar despite the US national debt exceeding 32 trillion dollars and growing still, as the national wealth of the USA is squandered on a proxy war with Russia and confrontation with China. This increase in national debt across the western nations, coupled to the loss of cheap energy products from Russia, has already started to bite into their GDP and their ability to compete in world markets. Some politicians in the EU have seen through the US plan to de-industrialise Germany and Europe and make them more dependent upon the USA but they are pitifully few and are shouted down by the warmongers in their ranks. Plan A, the destruction of the Russian economy has failed dismally and it seems no one had considered a plan B. Thus, all these nations continue to support failure and expend their national wealth in the process and their politicians have succumbed to propaganda and abandoned the welfare and prosperity of their nations and their citizens in the pursuit of a hate-based ideology.
The end result of all of the above has seen the creep of fascistic behaviour spreading across Europe like a plague ridden miasma; free speech is banned, questioning government actions is banned, journalists who try to report truthfully on these issues are hounded, fined, and imprisoned. The majority of the news media support the lies and propaganda of the government and dissenting voices are pilloried, and held up to ridicule. Neo Nazis are feted and given a public platform on which they can spread their lies and dogma of hatred.
In the USA, the old men and women who represent the parentage of unbridled wealth and greed along with their childhood prejudices have successfully bred a generation of elites who totally control 95% of the entire political spectrum of that country. Those elites in turn use their financial power to ensure that only those who support their views are able to get elected into the congress let alone the presidency. This has turned US foreign and domestic policy into the nightmare scenario that we see today as more and more of their citizens are returned to poverty, the internal infrastructure crumbles through lack of funding, and the health and education of the nation goes into decline.
Manufacturing industries are being decimated in a careful move to destroy the blue collar vote and remove the financial backing of the trades unions who supported them. Moral values are undermined and democracy is destroyed at its core by ensuring that no matter who the American public vote for the result always favours the elites. The constitution is meaningless as the higher courts rule against those who struggle to uphold it.
The majority of the rest of the world, the global south, much of Eurasia, the middle east has seen through this entire monstrous deception, not only is it refusing to back US policies but it is now uniting to remove US economic and financial hegemony over them. The Dollar and more important the Petro Dollar is under attack and the process of de-dollarisation is now underway and gathering steam. If Europe does not remove its blinkers and see that it has been used as a pawn by its US, so called, ally then it will suffer huge economic, social, and political upheaval that will set it back 50 years in economic terms. Europe desperately needs plan B right now.
