Tom Engelhardt on Democracy Now!
Amy and Juan interview the great Tom Engelhardt of TomDispatch.com and author of the brand new book The American Way of War: How Bush’s Wars Became Obama’s.
"Thats easy for you to say"
he is a twit
Englehardt is right in what he says. But what he does not talk about is the power of the dollar as a reserve currency. The Ruble was never a reserve currency. The only way to end dollar reserve currency status is for central banks to stop accepting them. What central bank is going to do this? So long as central banks accept dollars they have to hold them somewhere and the only safe place are US treasuries which finance the wars. This is the dilemna of countries holding surplus dollars. The Pentagon knows it. Refusing the dollar would be considered as a hostile an act. Look at what is happening to Iran which no longer accepts dollars. And besides, what other currency would be acceptable? As for the lithium reserves, they have been known to the international mining companies for decades but there are other reserves in the world.
some banks are already reluctant to take U.S. dollars for regional or local currency exchanges.
in Oaxaca, Mexico, is one example. And there are many others.
the dollar’s days are soon to be OVER WITH.
and with that, inflation the likes you’ve never seen before except perhaps those who lived in the Weimar Republic of Germany.
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