{"id":25685,"date":"2017-09-15T07:07:42","date_gmt":"2017-09-15T12:07:42","guid":{"rendered":"http:\/\/olduvai.ca\/?p=25685"},"modified":"2017-09-15T07:07:42","modified_gmt":"2017-09-15T12:07:42","slug":"americas-weapons-the-dollar-and-the-drone","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=25685","title":{"rendered":"America’s Weapons: “The Dollar and the Drone”"},"content":{"rendered":"
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America’s Weapons: “The Dollar and the Drone”<\/a><\/h3>\n

It was said that \u201cthe guinea and the gallows\u201d were the true instruments of British imperial power.<\/p>\n

The guinea represented the coined wealth of Great Britain.<\/p>\n

The gallows represented its\u2026 constabulary zeal<\/i> in policing restless natives.<\/p>\n

This is the 21st century of course\u2026 a time of enlightenment.<\/p>\n

Today\u2019s instruments of imperial power are no longer the guinea and the gallows.<\/p>\n

No. Today\u2019s instruments of imperial power are \u201cthe dollar and the drone.\u201d<\/p>\n

The dollar and the drone are America\u2019s weapons.<\/p>\n

Like the 19th-century pound (which replaced the guinea), today\u2019s dollar is the world\u2019s reserve currency.<\/p>\n

Like the 19th-century pound, the dollar finances some two-thirds of global trade.<\/p>\n

And the gallows?<\/p>\n

Britain hanged its foreign trouble. America explodes its own in drone attacks.<\/p>\n

Here is civilization; here is progress.<\/p>\n

The sun eventually sank on the British Empire\u2026 the gallows came down\u2026 and the pound lost its global reserve status.<\/p>\n

The U.S. will have its drones. But is its other weapon, the dollar, close to losing global reserve status?<\/p>\n

Recent developments may tell\u2026<\/p>\n

The global oil trade has centered on the dollar since 1974, when Saudi Arabia agreed to enthrone the dollar as currency of the oil market.<\/p>\n

If it was oil you wanted\u2026 it was dollars you needed.<\/p>\n

But now China \u2014 world\u2019s top oil importer \u2014 is preparing to create an oil market that bypasses the dollar entirely.<\/p>\n

The plan would let China buy oil from Russia and Iran with its own currency, the yuan.<\/p>\n

But the yuan is not a major reserve currency like the dollar.<\/p>\n

Under this plan, Russia and Iran would be able to swap yuan for an asset far more desirable than Chinese scraps of paper \u2014 gold itself.<\/p>\n

Perhaps that explains why China\u2019s been hoarding so much gold in recent years?<\/p>\n

Jim Rickards says this system marks the beginning of the end for the petrodollar:<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

America’s Weapons: “The Dollar and the Drone” It was said that \u201cthe guinea and the gallows\u201d were the true instruments of British imperial power. The guinea represented the coined wealth of Great Britain. The gallows represented its\u2026 constabulary zeal in policing restless natives. This is the 21st century of course\u2026 a time of enlightenment. Today\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[1949,15378,11023,1007,259,13098,588,626,827,839],"class_list":["post-25685","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-america","tag-brian-maher","tag-daily-reckoning","tag-drones","tag-empire","tag-imperial-power","tag-oil","tag-petrodollar","tag-united-states","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25685","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25685"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25685\/revisions"}],"predecessor-version":[{"id":25686,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25685\/revisions\/25686"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}