The powers-that-be seem to be working behind the scenes to end the Petrodollar, remove the U.S. Dollar as the world reserve currency, and bring American capitalism to a screeching halt. As The New American reported, “China and Brazil ditch the dollar”:
Although the U.S. dollar remains the dominant global currency (only about seven percent of global trade is being carried on outside the dollar sphere), the trend lines are becoming clear. Champing at the bit to shake off the reins of dollar hegemony are the likes of South Africa, India, Indonesia, Argentina, Iran, Russia, and many other countries � all of whom are blissfully unaware that a Chinese-led world financial order would be far more exploitative than the current one (just ask Sri Lanka!).
There is a very simple fix to this dilemma, one we at The New American have been advocating for decades, but which American leadership steadfastly refuses to consider: abolition of the Federal Reserve and the entire fiat-money system, coupled with a return to the precious metal standard (gold and silver) of the pre-World War I era. One of the many long-term advantages of such a move would be to remove political gamesmanship from money and international trade, effectively kneecapping any power desiring to �take control� of global finances. Prior to World War I, there were no significant trade wars, currency wars, or �beggar-thy-neighbor� policies, and no filthy rich international currency speculators such as George Soros. Economic strength was graded on productivity, not financial shell games.
In a future gold- and silver-dominated financial order, it would be so again. And as the Chinese are making increasingly obvious, the only alternative to such a commonsense move is eventual world financial vassalage to Communist China.
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