Wednesday, November 21, 2007

Dollar's Decline Heralds End of U.S. Empire

Averting World War III, Ending Dollar Hegemony And...

"When US President Bush declared in October 2007 that if Iran acquired the knowledge to produce nuclear weapons, we would be plunged into World War III, he was not joking or even exaggerating: he was making his intentions clear. In the same month, Vice-President Dick Cheney repeated the threat that the US would not ‘stand by’ as Iran allegedly pursued a nuclear weapons programme. If the present war in Afghanistan, Iraq and Palestine spreads to Iran, we will indeed have World War III....

If the Bush administration has decided to attack Iran militarily, is there any power on earth that can stop it if the people of the US are unable or unwilling to do so? The argument below is that if the USA’s ability to undertake imperial conquests depends on its obvious military supremacy, this in turn is ultimately based on the use of the US dollar as the world’s reserve currency. It is the dominance of the dollar that underpins US financial dominance as a whole as well as the apparently limitless spending power that allows it to keep hundreds of thousands of troops stationed all over the world. Destroy US dollar hegemony, and the “Empire” will collapse."

It's on its way down!

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