We know what’s coming and we are prepared.
IE: US faith in the stability of the dollar will be tested
Rumours of the death of the dollar are exaggerated, but only for now, writes the author of the article for The New Indian Express. The problems with the American currency are increasing, and the cause of this is Washington itself. Ultimately, the US will overplay their hand and lose their political prestige.
At the moment, there is no doubt in the US about the stability of the dollar as a reserve currency. However, considering the country's economic, political, and social problems, this faith will be put to the test.
To paraphrase Mark Twain's famous joke, rumours of the death of the dollar are exaggerated, although its health problems are increasing.
The problems with the dollar are mainly caused by Americans themselves. The unrestrained fiscal and monetary policies of the US - with a budget deficit and government debt at 7% and over 100% of GDP respectively - have reduced the dollar's long-term purchasing power. Since 1972, it has fallen by 99% against gold and lost 90% of its purchasing power in the market for real goods and services.
American politicians have always sought to use the dollar as a weapon to achieve their own goals, thereby compensating for economic weaknesses, such as lack of competitiveness. The US has sought to exclude foreign entities from international payment systems, such as SWIFT.
Washington imposes secondary sanctions to punish individuals and organisations that are not even under US jurisdiction. If a Russian company is under sanctions, anyone doing business with it may be subject to legal action, even if they comply with their own country's laws. This is done through a questionable system of dollar transactions that only pass through the US banking system. International banks and others have already faced legal action for operations that are legal in their own country. The threats are sufficient to disrupt dealings with organisations under US sanctions.
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The village of Piddington has voted for independence from the United Kingdom and to become a self governing village in a landslide vote.
91% Voting Leave
This comes after news that over 3,000 illegal migrants are to be dumped in their village.
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š šŗšø š Libertarians have disappeared from American politics. Their think tanks and magazines are richly endowed but irrelevant, their ideas exhausted. What happened to champions of free markets and free people?
Socialism is more fashionable today than at any time since the Soviet Union collapsed. Itās back, and its major rival isnāt an ideology of unfettered free markets but right-wing populism. Theodore Roosevelt is a greater inspiration than Ronald Reagan to todayās young Republicans. The man most likely to be the next GOP presidential nominee, J.D. Vance, is more enthusiastic about Huey Long than Milton Friedman. Even the alternative āNeverVanceā candidate insiders in Washington prefer ā Secretary of State Marco Rubio ā has made a point of saying capitalism must be ācommon-good capitalism.ā
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Many have asked my opinion on a possible Russia-NATO conflict.
This is going to annoy many people, and hopefully give them a reality check, but my opinion is very simple.
1. Russia had some valid strategic and ideological reasons for what it did in Ukraine, regardless of whether I condone the invasion or not. Was it successful? Arguably yes, arguably noāit depends on what you consider as the warās key objectives. The war actually pushed two neutral countries into NATO and pulled Ukraine even further away from Russian influence.
2. Russia does not have any valid strategic reason to invade the Baltics or any other NATO territory. Any attack on the Baltics cannot be excused as āprotecting Russian culture & languageā or fighting āNazismā. If this does happen, itāll be a clear sign of expansionism, nothing more and nothing less. Russia is not a saintly country and I donāt put it past them.
3. If Russia does miscalculate and invade NATO territory, it will backfire ...
