Sanctions, Sanctions, Sanctions – the Final Demise of the Dollar Hegemony? by Peter Koenig

The US looks like it’s doing everything possible to move the world away from the dollar standard. From Peter Koening at thesaker.is:

Sanctions left and sanctions right. Financial mostly, taxes, tariffs, visas, travel bans – confiscation of foreign assets, import and export prohibitions and limitations; and also punishing those who do not respect sanctions dished out by Trump, alias the US of A, against friends of their enemies. The absurdity seems endless and escalating – exponentially, as if there was a deadline to collapse the world. Looks like a last-ditch effort to bring down international trade in favor of — what? – Make America Great Again? – Prepare for US mid-term elections? – Rally the people behind an illusion? – Or what?

All looks arbitrary and destructive. All is of course totally illegal by any international law or, forget law, which is not respected anyway by the empire and its vassals, but not even by human moral standards. Sanctions are destructive. They are interfering in other countries sovereignty. They are made to punish countries, nations, that refuse to bend to a world dictatorship.

Looks like everybody accepts this new economic warfare as the new normal. Nobody objects. And the United Nations, the body created to maintain Peace, to protect our globe from other wars, to uphold human rights – this very body is silent – out of fear? Out of fear that it might be ‘sanctioned’ into oblivion by the dying empire? – Why cannot the vast majority of countries – often it is a ratio of 191 to 2 (Israel and the US) – reign-in the criminals?

Imagine Turkey – sudden massive tariffs on aluminum (20%) and steel (50%) imposed by Trump, plus central bank currency interference had the Turkish Lira drop by 40%, and that ‘only’ because Erdogan is not freeing US pastor Andrew Brunson, who faces in Turkey a jail sentence of 35 years for “terror and espionage”. An Izmir court has just turned down another US request for clemency, however, converting his jail sentence to house arrest for health reason. It is widely believed that Mr. Brunson’s alleged 23 years of ‘missionary work’ is but a smoke screen for spying.

President Erdogan has just declared he would look out for new friends, including new trading partners in the east – Russia, China, Iran, Ukraine, even the unviable EU, and that his country is planning issuing Yuan-denominated bonds to diversify Turkey’s economy, foremost the country’s reserves and gradually moving away from the dollar hegemony.

To continue reading: Sanctions, Sanctions, Sanctions – the Final Demise of the Dollar Hegemony?

 

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