The costs of sustaining the US's new 'Empire' will become apparent to its public only when these costs directly accrue to them. This will happen, as this article suggests, only when other nations stop subsidising the US's imperial adventures by colluding in them and the dollar loses its role as the world's reserve currency.
This article argues that if the US’s ability to undertake imperial conquests like that of Iraq depends on its obvious military supremacy, this in turn is ultimately based on the use of the US dollar as the world’s reserve currency. It is the dominance of the dollar that underpins US financial dominance as a whole as well as the apparently limitless spending power that allows it to keep hundreds of thousands of troops stationed all over the world. Destroy US dollar hegemony, and ‘Empire’ will collapse.
The Soft Underbelly of Empire
Iran does not pose a threat to the United State because of its nuclear projects, its WMD, or its support to “terrorists organizations” as the American administration is claiming, but in its attempt to re-shape the global economical system by converting it from a petrodollar to a petroeuro system. Such conversion is looked upon as a flagrant declaration of economical war against the US that would flatten the revenues of the American corporations and eventually might cause an economic collapse.
The Iranian Threat: The Bomb or the Euro?
Both these articles are very interesting. Even if you have nothing to say about them I recommend the reading.
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