Part of the great devolution of American power is not just related to depletion of military stores and the lack of enlistments for the service, but also our economic power. The latest monetary threat is coming from both East and West and may be the coup de grâce for the U.S. dollar, which has long been the dominant global currency for international financial transactions.
A number of the world’s major players want to move away from U.S. currency and are working toward creating a new global currency. You might not have heard of the BRICS alliance . It consists of China, Russia, Brazil, India, and South Africa. Reports suggest that they are cooperating to reduce their dependence on the U.S. by developing their own currency for trade among “friendly nations.” Their ties are getting stronger: near-historic levels of trade are occurring between India and Russia. Brazil has become more and […]
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