Averting World War III, Ending Dollar Hegemony And US Imperialism

This article explains how the dominance of the US, especially it's foreign policy, is dependant on the US dollar being used as the "world's currency reserve". Poorer nations must have ample supplies of the US dollar in order to ensure that they can import oil. It cites David Ludden's article "America's Invisible Empire" as the source of much of the ideas [a 5000 page book?]

It goes on to say the US dollar is being threatened as the only currency reserve, as nations move into the Euro and other currencies when trading oil and other goods. In particular, it is the oil-producing nations of Iraq [under Saddam in 2000] and Iran [in 2002] that converted significant portions of their foreign exchange currencies into Euros.

Similiarly, Venezuela [under Chavez] has made itself an 'enemy of the USA' by trading it's oil in anything but US dollars. More recently, China and India and Russia have mave moves away from the US dollar, as it becomes a more risky investment and security currency. Iran asked the Japanese to pay for it's oil in Yen in 2007.

Even George Soros [US billionaire] has pulled his money out of US assets.

This has created a lot of pressure on American politicians to hedge up the declining US dollar as the world's "currency reserve". Invading Iraq and putting it's oil back into US dollar values is seen as a primary reason for the invasion. So, the invasion was not about OIL exactly, but about how that oil is exchanged into currency!! One of the first things the occupiers did was to change the Iran oil sales back to US dollars...

It backfired though, with anti-war protesters going further to move into other currencies. Certain Arab incentives included the fact that Israel could not continue it's military 'aggressions' [defence?] without American financial support. Side effects were that Al Queda made a strong presence in Iraq after the invasion [Saddam had kept them out] ; the Taliban made a comeback in Afghanistan .

The US military is apparently "foot-dragging" as to further interventions to prop up the US dollar. That "mistake" about flying those nuclear warheads across America [that included several people dying mysteriously] was possibly all about the Bushies making an attack on IRAN on their own if their military won't do it.

Canada's role in all this is becoming obvious. We are in Afghanistan, which pits us firmly against all those other nations who are moving away from "US dollar hegemony". We are propping up the US dollar, and therefore their aggressive actions on nation's who are moving away from the US dollar. Our trade could be devalued by the decline of the US dollar, as our exporters well know with the rise of our dollar against the US currency - and we are losing value in our major exports as those values are in oil and the pipelines that move it there.

The world will have a better chance at being at peace if the US aggression ends. To do so, the US dollar should only be traded within the US, and another currency for world trade could be used, or develop a new one under the UN or WTF. We are a long way from that happening though, perhaps at least one nuclear war away... as Bushies continue to believe they are all powerfull and that a "good old armegeddon" will clear it all up for them.

Also, OPEC is losing money by sticking to pricing oil sales in the slumping US dollars, but for America it is a "Ponzi-scheme confidence racket", by which the USA funds its massive deficits, debts, and war mongering ways.

At the meeting the OPEC members were considering stopping oil pricing using the US dollar:
Dump dollar? Talks leak out

Furthermore, CHINA is losing out and risking much by using the US dollar, and will soon be turning to other currencies:
China signals reserves switch away from dollar

Its been a long ride for the Americans who began floating their "printable dollar" in 1971,which allowed them to dominate the world with their style of imperialism.

The scales are moving' - greenback's fall signals global shift

quote:

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One of the main U.S. exports since [1971] has been the dollar itself, in exchange for foreign capital to finance trade deficits and a national debt of more than $9-trillion (U.S.).

After declining in five of the past six years, the weakest dollar in the era of floating currencies reflects a period of diminished U.S. political and economic hegemony.

For the first time, economists are raising the once-improbable spectre that the dollar's monopoly as the world's dominant reserve currency is under threat.

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