{"id":43508,"date":"2019-02-04T08:34:20","date_gmt":"2019-02-04T13:34:20","guid":{"rendered":"https:\/\/olduvai.ca\/?p=43508"},"modified":"2019-02-04T08:34:24","modified_gmt":"2019-02-04T13:34:24","slug":"goodbye-to-the-dollar","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=43508","title":{"rendered":"Goodbye to the Dollar"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.truthdig.com\/articles\/goodbye-to-the-dollar\/\">Goodbye to the Dollar<\/a><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.truthdig.com\/wp-content\/uploads\/2019\/02\/Fish_Cash-Out-with-Hedges-850x575.jpg\" alt=\"\"\/><figcaption>Mr. Fish \/ Truthdig<\/figcaption><\/figure>\n\n\n\n<p>The inept and corrupt presidency of Donald Trump has unwittingly triggered the fatal blow to the American empire\u2014the abandonment of the dollar as the&nbsp;<a href=\"https:\/\/www.thebalance.com\/world-currency-3305931\">world\u2019s principal reserve currency<\/a>. Nations around the globe, especially in Europe, have lost confidence in the United States to act rationally, much less lead, in issues of international finance, trade, diplomacy and war. These nations are quietly dismantling the seven-decade-old alliance with the United States and building alternative systems of bilateral trade. This reconfiguring of the world\u2019s financial system will be fatal to the American empire, as the historian&nbsp;<a href=\"https:\/\/www.youtube.com\/watch?v=6QgwwBAj8Ow\">Alfred McCoy<\/a>&nbsp;and the economist&nbsp;<a href=\"https:\/\/www.youtube.com\/watch?v=m4ylSG54i-A\">Michael Hudson<\/a>have long pointed out. It will trigger an economic death spiral, including high inflation, which will necessitate a massive military contraction overseas and plunge the United States into a prolonged depression. Trump, rather than make America great again, has turned out, unwittingly, to be the empire\u2019s most aggressive gravedigger.<\/p>\n\n\n\n<p>The Trump administration has capriciously sabotaged the global institutions, including NATO, the European Union, the United Nations, the World Bank and the IMF, which provide cover and lend legitimacy to American imperialism and global economic hegemony. The American empire, as McCoy points out, was always a hybrid of past empires. It developed, he writes, \u201ca distinctive form of global governance that incorporated aspects of antecedent empires, ancient and modern. This unique U.S. imperium was Athenian in its ability to forge coalitions among allies; Roman in its reliance on legions that occupied military bases across most of the known world; and British in its aspiration to merge culture, commerce, and alliances into a comprehensive system that covered the globe.\u201d<\/p>\n\n\n\n<p>&nbsp;\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Goodbye to the Dollar The inept and corrupt presidency of Donald Trump has unwittingly triggered the fatal blow to the American empire\u2014the abandonment of the dollar as the&nbsp;world\u2019s principal reserve currency. Nations around the globe, especially in Europe, have lost confidence in the United States to act rationally, much less lead, in issues of international [&hellip;]<\/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],"tags":[3602,9035,6237,5572,8738,839,862,5482],"class_list":["post-43508","post","type-post","status-publish","format-standard","hentry","category-economics","tag-american-empire","tag-chris-hedges","tag-confidence","tag-diplomacy","tag-truthdig","tag-us-dollar","tag-war","tag-world-reserve-currency"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43508","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=43508"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43508\/revisions"}],"predecessor-version":[{"id":43509,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43508\/revisions\/43509"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}