Fiat Currency: Driving 90% of Wars, Poverty, Global Strife, Economic Instability & Social Unrest
Unchecked money printing by central banks erodes savings, fuels inequality, finances endless wars, and perpetuates social misery for billions globally.
Op-Ed by Carmine Lombardi
The US dollar's legitimacy has been eroding since the establishment of the Federal Reserve in 1913, a private banking cartel masquerading as a government institution. This erosion accelerated in 1971 when Nixon closed the gold window, severing the dollar's last tie to tangible value. The final pillar of dollar dominance, the petrodollar system engineered by Kissinger in 1974, is now crumbling as major oil producers explore alternative currencies for trade.
Today, the dollar's global supremacy rests primarily on the threat of US military force, akin to a mafia protection racket. This system allows the US to extract a significant "seigniorage tax" from the global economy, estimated at up to 3% of world GDP. Like a mafia forcing businesses to use their marked currency, the US compels nations to trade in dollars, skimming profits off every transaction.
This arrangement has allowed the US to run massive trade deficits and accumulate unprecedented debt without immediate consequences. However, as more countries seek alternatives to dollar hegemony, the system's days appear numbered. The transition away from dollar dominance could trigger significant economic upheaval, potentially leading to a crisis of confidence in the currency itself
The United States' foreign policy has long been a subject of intense criticism, with many viewing it as a dangerous mix of imperialism, hypocrisy, and self-interest masquerading as global leadership. The country's actions on the world stage have often contradicted its professed values, leaving a trail of destruction and instability in its wake.
The Ukrainian Conflict: A Case Study in American Duplicity
The ongoing war in Ukraine serves as a prime example of America's destabilizing influence. Despite assurances given to Soviet leader Mikhail Gorbachev by James Baker under the Reagan administration that NATO would not expand "one inch eastward," the US has consistently pushed for NATO expansion towards Russia's borders.
This gradual encroachment, country by country, has significantly contributed to rising tensions in the region.
Global Military Footprint: An Evil and Rogue Empire.
The United States maintains an astounding network of over 750 military bases across approximately 80 countries, dwarfing the combined overseas presence of all other nations.
This vast military empire costs American taxpayers an estimated $55 billion annually just to maintain, with total spending on overseas bases and personnel reaching upwards of $80 billion per year.
General Wesley Clark famously revealed a Pentagon plan to destabilize and overthrow seven countries in five years, including Libya, Syria, Somalia, Iraq, and Iran. This strategy aimed to establish pro-US regimes across the Middle East and North Africa. The interventions in Iraq and Libya resulted in the theft of significant gold reserves. In Iraq, US forces seized large quantities of gold from Baghdad's Central Bank.
Similarly, Libya's vast gold reserves, intended to back a pan-African currency, were a key factor in NATO's intervention.
The US has demonstrated a pattern of aggressive action against nations attempting to trade oil in currencies other than the US dollar, as seen with Iraq's shift to euros and Libya's gold dinar plan
The Afghanistan Debacle: Two Decades of Failure
The war in Afghanistan stands as a monument to the futility of American interventionism. After 20 years and trillions of dollars spent, the US ultimately replaced the Taliban with... the Taliban. This catastrophic misadventure cost roughly five times more than the entire Vietnam War, with little to show for it beyond a shattered country and thousands of lives lost.
The Post-9/11 Era: A Global Rampage
Since the September 11 attacks, the United States has embarked on a staggering campaign of military interventionism. Over $8 trillion has been spent on wars and military operations, with American forces involved in no fewer than 251 conflicts, wars, and regime change operations since the 1990s.
This relentless militarism has left a wake of destabilized regions and failed states across the globe.
Betraying Allies: The Art of the Double-Cross
Perhaps most cynically, the US has repeatedly undermined its own NATO allies to gain economic advantages. By intentionally creating rifts within the alliance, America has managed to steal market share in foreign trade from its supposed partners.
This behavior echoes the infamous quote attributed to Henry Kissinger: "It may be dangerous to be America's enemy, but to be America's friend is fatal."
The Crushing Weight of Military Spending
The majority of America's staggering $36 trillion national debt can be traced back to military and defense-related expenditures.
Even more alarming is the Pentagon's consistent failure to pass audits, having failed six consecutive times. This points to a level of financial mismanagement and potential corruption that would be unacceptable in any other sector.
From Democracy to Kleptocracy
The United States can no longer claim to be a functioning democracy or even a plutocracy. Instead, it has devolved into a kleptocracy, where the ruling elite engage in brazen theft and corruption with impunity. When money is allocated for overseas military operations, it becomes a feeding frenzy of graft and embezzlement.
Congressional Insider Trading: Legalized Corruption
Adding insult to injury, there are no laws preventing members of Congress from exploiting classified intelligence briefings for personal financial gain through insider trading. This legalized form of corruption further erodes any remaining trust in America's political institutions.
The New Roman Empire
America's foreign policy playbook bears a striking resemblance to that of ancient Rome. Where Rome plundered precious metals, spices, and slaves from conquered territories, the US pillages oil and gold while rigging foreign trade to benefit the corporate interests that bankroll complicit politicians.
In conclusion, US foreign policy has become a dangerous amalgamation of militarism, economic exploitation, and political corruption. Far from being a force for global stability and democracy, America's actions on the world stage have often sown chaos and undermined the very values it claims to champion. Until there is a fundamental reassessment of its role in the world and a willingness to be held accountable for its actions, the United States will continue to be viewed by many as a rogue superpower, driven by greed and a thirst for dominance rather than any coherent moral vision.
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It is NOT up to the US goverment to..decide where the DEBT ceiling should be.
It is the BUYERS who decide, if they ..trust..the REturn of capital, & at what cost / interest rate.
That is called the.."free market forces" which the free world should know....but ignore.