It was as a result of the two World Wars that a renewed Anglo-Saxon monetary empire began to soar.
In the 1920s, former European creditors, losers and winners alike, became debtors in dollars. However, the really big step came after World War II. Rival Germany, which had threatened the financial empire, was now essentially removed from the playing field, and the dollar became the official global currency — reinforced by international organizations (IMF, World Bank, credit rating agencies) that have always been ready to exert a disciplinary effect on potential competitors. After 1945, an unsecured avalanche of paper money, formally freed from any limit (the gold standard), began.
Moreover, opponents of expansion had to reckon with a military force in support of the interests of the monetary empire, operating as a deterrent and at the expense of the citizens of the dollar’s host state, similar to the heyday of the British Empire. It is now clear that the European currency, the euro, which was originally intended to be a competitor, was forced into subordination to said monetary empire the moment it was introduced. The global economic and financial crisis of 2008-2009 provided clear evidence of this. After more than four decades of dynamic expansion, the empire is beginning to face its own limitations, and more and more places are successfully defending themselves against its permanent resource-sucking practices.
Today, in addition to the long-prevailing globalist approach, the patriotic approach is experiencing a renaissance, and despite the negative coverage by the most organized power of the monetary empire, the international media, this latter has not been undermined. Patriotic governments are accused of populism as if it were a problem for a government to enjoy public trust as the fruit of its popularity. An even more serious and unjust accusation is to compare these governments to vanished dictatorships while using serious money to build diversification networks (the NGOs they fund) in these very countries.
There are now countless signs of a terminal weakening. The host nations, the United States itself and several member states of the European Union, are so heavily indebted that their financing from the legendary free market can no longer be successfully achieved, as this would lead to an increase in market interest rates (yields) to such an extent that it would make recovery impossible.
The monetary empire is being forced to finance host states at their own risk. In both the United States and the Union, there are thousands of billions of dollars and euros in the empire’s banks, the Federal Reserve and the ECB. Meanwhile, several major countries are now circumventing disciplinary institutions (IMF, World Bank) and establishing their own institutions (BRICS), while dollar-avoiding trade agreements are also taking place (most recently the Iran-China long-term agreement). The European Union’s true civilian patriots have successfully taken action against another siege operation, TTIP (the Transatlantic Trade and Investment Partnership), and dark money has invented its own virtual monetary world (bitcoin).
The agony of the Anglo-Saxon monetary empire became spectacular with the 2008-2009 crisis. Recovery from this is only possible if the monetary empire has the necessary foresight and discovers the necessary conditions for its own withdrawal. However, this involves great sacrifices, as many major positions would have to be handed over to emerging powers. Today, it is not yet clear whether this painful transition will be as peaceful as that of the former Soviet empire or accompanied by severe, life-threatening conflicts. Sobriety will be needed to maintain a willingness to negotiate continuously for common success.
Title image: The banner for Endeavor hangs on the New York Stock Exchange, Thursday, April 29, 2021, in New York. The company behind Hollywood talent agency WME, the Miss Universe pageant, and the MMA Ultimate Fighting Championship had its IPO on Thursday. (AP Photo/Mark Lennihan)