Tag Archives: Dedollarization

Biden’s Folly in Ukraine, by Douglas Macgregor

Biden is cementing an Eurasian bloc that American policymakers have feared since World War II. From Douglas Macgregor at theamericanconservative.com:

President Biden and the foreign policy uniparty are restoring the strategic condition Washington feared in 1940.

U.S. President Joe Biden gestures as he delivers remarks on the jobs report for the month of March from the State Dining Room of the White House on April 01, 2022. (Photo by Anna Moneymaker/Getty Images)

Americans find it difficult to determine whether the Biden administration’s policy decisions regarding Ukraine are the product of a deliberate strategy, extraordinary incompetence, or some combination of both. Threatening Russia, a nuclear armed power, with regime change and then annunciating a nuclear weapons policy that allows for the United States’ first-strike use of nuclear weapons under “extreme circumstances”—responding to an invasion by conventional forces, or chemical or biological attacks—suggests President Biden and his administration really are out of touch with reality.

American voters instinctively grasp the truth that Americans have nothing to gain from a war with Russia, declared or undeclared. A short trip to almost any supermarket or gas station in America explains why. Last week, inflation hit its highest point in nearly 40 years and gas prices have skyrocketed since the conflict in Ukraine began.

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The World Is Ganging up Against the Dollar, by James Rickards

Use the dollar as a weapon and eventually the weapon gets turned against you. From James Rickards at dailyreckoning.com:

The U.S. has been highly successful at pursuing financial warfare, including sanctions. But for every action, there is an equal and opposite reaction.

As the U.S. wields the dollar weapon more frequently, the rest of the world works harder to shun the dollar completely.

I’ve been warning for years about efforts of nations like Russia and China to escape what they call “dollar hegemony” and create a new financial system that does not depend on the dollar and helps them get out from under dollar-based economic sanctions.

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