Why The Collapse of The American Empire Might Be The Best Thing Ever
And great news for China, Russia and the oriental world.
The American empire is a morally bankrupt and degenerate enterprise.
And one which is on the cusp of irreversible collapse.
Contrary to the thinking that its unravelling has been brought about by external factors, America’s problems are all of its own doing.
Richard Nixon, in thrall to the likes of Fredrich Hayek and Milton Friedman, did something rather audacious in the early 1970s: breaking with Keynesian orthodoxy and ending the dollar convertibility to gold.
If there ever was a modern, fifty year experiment in how far you can get away with debasing your currency, it certainly was the American one.
We went from 650 billion dollars in circulation in 1971 to well over 50 trillion today.
Hedge funds, venture capital, private equity, exchange traded funds, arbitrage wouldn’t have existed in its current guise, if it weren’t for the over-debauched dollar.
The destructive military-industrial complex, owes its power to the greenback; if the dollar wasn’t the global reserve currency, I doubt very much that a great deal of its imperial misadventures in Indochina, Latin America and Africa would ever have taken place.
The wars in Iraq, Vietnam, Yemen, Libya and regime changes in Nicaragua, Chile, Nigeria, Ghana, Italy, Germany, Grenada, Iran and Brazil were exclusively funded by those who were compelled to peg their currencies to the dollar.
But nothing lasts forever.
The People’s Republic of China, which was an economic backwater for the last two centuries, awoke from its narcolepsy under Deng Xiaoping and began adopting capitalist ideas while retaining complete internal political control and the results have been nothing short of extraordinary.
Unlike Japan, which has kowtowed to America, politically, economically and militarily, since 1945, China has chosen to go about its business in a different way and it has elevated nation-states from the yoke of American imperialism.