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 Israeli Home Front Command have been instructed to prepare for an imminent war, and a high level defensive alert has been declared, reports Israeli Channel 12
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🇮🇱⚠️❗️ — The Israeli Homefront Command ordered the Magen David Adom (MDA, the Jewish equivalent of Red Cross) to prepare for a full-scale war with Iran, following a high-level defensive alert having been declared across Israel, according to N12.
Every one of these clearing functions is migrating to AI — the human intermediary replaced by automated assessment operating at machine speed, applying standards compiled upstream, with no democratic feedback at the point of execution...
The modern clearinghouse requires an unnamed committee, a black-box model, an emergency activation protocol, and a programmable currency to execute its verdicts at the point of sale. The function is identical to the banker at the table — the architecture has simply become too large and too technical for the public to recognise it as the same thing.
But the next stage replaces the committee — COVID-era indicator governance, in which thresholds triggered policy in real time, is already giving way to anticipatory governance, in which the model acts before the threshold is crossed.
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🇺🇸⚔️🇮🇷 The problems with an air campaign against Iran
This excellent graphic allows us to understand better the issues facing any attempt to strike Iran. Now that we have some sense of the power of the potential force deployed we can highlight a few important points.
600 Tomahawk missiles may sound like a lot but we need some comparisons. In 2025 alone Russia launched 1900-2000 missiles into Ukraine.
But given the patchy air defence in Ukraine we should also count drones. Including strike drones, Russia launched around 34000 strikes on Ukraine.
Needless to say, Ukraine remains intact. The strikes have taken their toll but the country is intact. 600 Tomahawks represent less than 2% of this strike capability.
But Tomahawks are a rare commodity. If the US fired all 600 this would be 10-15% of their total inventory - not total inventory on their ships, the total inventory in existence!
We could add in the aircraft capacities but this is controversial. Risking these aircraft ...