News
Global Economic War – Where the Dollar Stands in the Chaos
Image via Toa Heftiba
From Brandon Smith
In a recent statement posted to social media, Tucker Carlson explained succinctly his many reasons for traveling to Russia to interview President Vladimir Putin. His decision, mired in an avalanche of outrage from leftist media talking heads and a multitude of western politicians, was inspired by Carlson's concern that Americans have been misdirected by corporate media propaganda, leaving the public completely uneducated on the war in Ukraine.
It’s vital to understand what tensions with the East could cause.
It’s worth a watch:
BGG - Transcript Video Transcript
We’re in Moscow tonight. We’re here to interview the president of Russia, Vladimir Putin. We’ll be doing that soon.
There are risks to conducting an interview like this, obviously, so we’ve thought about it carefully over many months. Here’s why we’re doing it. First, because it’s our job.
We’re in journalism. Our duty is to inform people. Two years into a war that’s reshaping the entire world, most Americans are not informed.
They have no real idea what’s happening in this region, here in Russia or 600 miles away in Ukraine. But they should know. They’re paying for much of it in ways they might not fully yet perceive.
The war in Ukraine is a human disaster. It’s left hundreds of thousands of people dead, an entire generation of young Ukrainians, and it’s depopulated the largest country in Europe. But the long-term effects are even more profound.
This war has utterly reshaped the global military and trade alliances. And the sanctions that followed have as well. And in total, they have upended the world economy.
The post-World War II economic order, the system that guaranteed prosperity in the West for more than 80 years, is coming apart very fast, and along with it the dominance of the U.S. dollar. These are not small changes. They are history-altering developments.
They will define the lives of our grandchildren. Most of the world understands this perfectly well. They can see it.
Ask anyone in Asia or the Middle East what the future looks like. And yet the populations of the English-speaking countries seem mostly unaware. They think that as nothing has really changed.
And they think that because no one has told them the truth. Their media outlets are corrupt. They lie to their readers and viewers.
And they do that mostly by omission. For example, since the day the war in Ukraine began, American media outlets have spoken to scores of people from Ukraine, and they have done scores of interviews with Ukrainian President Zelensky. We ourselves have put in a request for an interview with Zelensky, and we hope he accepts.
But the interviews he’s already done in the United States are not traditional interviews. They are fawning pep sessions specifically designed to amplify Zelensky’s demand that the U.S. enter more deeply into a war in Eastern Europe and pay for it. That is not journalism.
It is government propaganda. Propaganda of the ugliest kind, the kind that kills people. At the same time our politicians and media outlets have been doing this, promoting a foreign leader like he’s a new consumer brand, not a single Western journalist has bothered to interview the president of the other country involved in this conflict, Vladimir Putin.
Most Americans have no idea why Putin invaded Ukraine, or what his goals are now. They’ve never heard his voice. That’s wrong.
Americans have a right to know all they can about a war they’re implicated in, and we have the right to tell them about it because we are Americans too. Freedom of speech is our birthright. We were born with the right to say what we believe.
That right cannot be taken away no matter who is in the White House. But they’re trying anyway. Almost three years ago, the Biden administration illegally spied on our text messages, and then leaked the contents to their servants in the news media.
They did this in order to stop a Putin interview that we were planning. Last month we’re pretty certain they did exactly the same thing once again, but this time we came to Moscow anyway. We are not here because we love Vladimir Putin.
We are here because we love the United States, and we want it to remain prosperous and free. We paid for this trip ourselves. We took no money from any government or group, nor are we charging people to see the interview.
It is not behind a paywall. Anyone can watch the entire thing, shot live to tape and unedited, on our website, TuckerCarlson.com. Elon Musk, to his great credit, has promised not to suppress or block this interview once we post it on his platform, X, and we’re grateful for that. Western governments, by contrast, will certainly do their best to censor this video on other, less principled platforms because that’s what they do.
They are afraid of information they can’t control. But you have no reason to be afraid of it. We are not encouraging you to agree with what Putin may say in this interview, but we are urging you to watch it.
You should know as much as you can, and then, like a free citizen and not a slave, you can decide for yourself. Thanks.
Here are a few key quotes:
This war has utterly reshaped the global military and trade alliances, and the sanctions that followed as well, and in total they have upended the post-World War II economic order. The system that guaranteed prosperity in the West for more than 80 years is coming apart very fast, and along with it the dominance of the U.S. dollar.
I agree.
In fact, I don't think the majority of Americans have a clue what the real consequences of a global war with Russia and its allies would look like.
Even if the conflict never resulted in shots fired and stayed confined to the realm of economic warfare, the U.S. and most of Europe would be devastated.
Carlson specifically mentioned dangers to the status of the U.S. dollar.
I suspect this comment probably mystified a great number of people. Most of the population cannot fathom the idea of a U.S. dollar implosion set in motion by a foreign dump of the dollar as the global reserve currency.
They really do believe the dollar is invincible.
The most delusional people are, unfortunately, those within mainstream economic circles. They just can't seem to grasp that the West is enduring a slow-motion financial collapse already.
War would accelerate the economic damage to levels not seen since the Great Depression.
What history tells us about global reserve currencies
The U.S. dollar replaced the British pound sterling as global reserve currency in 1944. The pound sterling ruled supreme for some 200 years, then spiraled in value after the UK bankrupted itself fighting both World Wars I and II.
Before that, the French franc was the world’s preferred currency for a century – before the nation bankrupted itself by experimenting with unbacked paper money (most spectacularly during the Mississippi Bubble scam). The resulting economic devastation led directly to the French Revolution.
The French franc replaced the Dutch guilder, which served as the world’s reserve currency for about a century before the Netherlands bankrupted itself through the course of the Eighty Years’ War.
Before that, the Spanish silver dollar was the world’s reserve currency, in part due to the fantastically productive Spanish mines in the New World. But no matter how many tons of silver the Spanish galleons carried across the Atlantic, the government spent even more… First defaulting on the nation’s debts, then debasing the currency in order to keep fighting against the English and Dutch, the Spanish silver dollar faded from history.
I could keep going back in time to dig up more examples…
Here's the point:
Every global reserve currency in history has been replaced.
Every single one.
The issuing government spends more money than it has (usually during wartime) – debases the currency, and sometimes defaults on debts as well – shattering the trust that’s necessary for any currency to survive.
The fall of the U.S. dollar is inevitable
I have been warning about this outcome for many years. I think I have made my position clear in the past; I suspect the conflict between east and west has been carefully engineered over the course of a decade or more, and Russia is not innocent in this affair.
Russia has consistently collaborated with globalist institutions including the IMF in the effort to create a new “global reserve currency system.” As I noted in 2014 in my article False East/West Paradigm Hides Rise Of Global Currency in reference to the burgeoning war with Ukraine.
I would remind pro-Putin cheerleaders that Putin and the Kremlin first pushed for the IMF to take control of the Ukrainian economy, and the IMF is now demanding that Ukraine fight Russia in exchange for financial support. This might seem like irony to more foolhardy observers; but to those who are aware of the false East/West paradigm, it is all the part of a greater plan for consolidation of power.
From the moment Ukrainian President Viktor Yanukovych was deposed (many argue that this was done with the help of western intel agencies) the agenda for World War III was set in motion. Both sides seem to create the circumstances by which a conflagration was unavoidable.
Russia, strangely, supported the intervention of the IMF to secure Ukraine's economy. The IMF then demanded that Ukraine fight Russia to keep control of the Donbas or risk losing the financial aid that was keeping the country alive. Is this irony, or is there something else going on here?
NATO started arming Ukraine, and Ukraine used those arms to slaughter civilians in the Donbas. The eastern population wanted to join with Russia, and Ukraine had no intention of allowing that (IMF funding was on the line). In the meantime, the government openly negotiating the official inclusion of Ukraine into NATO. Russia then invaded, taking the Donbas.
Now the entire region is a powder keg and both sides are ready to light the fuse.
If I had to pick a side that is “more right” in their position, it would have to be Russia. Imagine if China was working to create a military alliance with Mexico with the potential for the Chinese military to stage weapons and soldiers on our southern border? Imagine the chaos that this would cause in the US? That's what Russia was facing with Ukraine.
Remember, America almost initiated global nuclear war when Soviet Russia staged missiles in Cuba in 1962. Military operations so close to the borders of major national powers are no joke.
I certainly don't trust Putin, but that doesn't negate the Orwellian behavior of European and American political leaders. There is something going on here beyond the typical mechanisms of geopolitical brinkmanship. War only benefits a select group of globalists, and I suspect both sides are either knowingly or unwittingly serving globalist interests.
It is undeniable. It is a verifiable reality: Our governments and elitist institutions are corrupt beyond comprehension. They are seeking an authoritarian reformation, a “great economic reset” and they are triggering multiple conflicts around the world. We saw the mask come off during Covid. These people are not merely misguided; they are monsters, and they are hungry. It is not beyond them to conjure a worldwide crisis and sacrifice the west like a goat on the altar to get the centralization they desire.
The East/West paradigm plays into this plan perfectly. The BRICS nations are poised to drop the dollar completely; some have already done so in bilateral trade.
Make no mistake, if the conflict in Ukraine (and other parts of the world like Syria or Iran) continues to escalate China will move to dump its dollar holdings. As the largest importer/exporter in the world, many countries would follow China’s lead and shift away from the dollar for international trade.
What does this mean?
Trillions of IOUs cashed in all at once
The dollar, which has been hyperinflated through more than a decade of Federal Reserve money-printing, has continued to remain stable only because it is the world reserve and the petrocurrency. Foreign banks hold trillions in dollars in overseas coffers for this very reason. With the loss of reserve status, an endless flow of dollars will then flood back into the U.S. as foreign investors diversify away from the Fed note.
Result? Massive inflationary collapse.
This is what's at stake.
This is what Tucker Carlson was likely referring to, and far too many in America just don't get it. Globalists benefit because this is what they have been working towards for decades – The deconstruction of U.S. society and the economy, so that the “old world order” can be replaced with their “new world order” of central bank digital currencies, an IMF currency basket and a host of other highly unpleasant socialist changes.
And the best part for them is, they will be seen as the “heroes” when it's all over. They spent the better part of the last century setting up America for economic failure through their devaluation of the dollar and the creation of a national debt trap. The system was going to break anyway, but now they can divert all blame to war and the “arrogance of nation states” and then come to the rescue with their dystopian digital money.
An east/west conflict opens the door to the Great Reset. Right now, the only thing holding back the tide is the public's general refusal to fight. No one is interested in going overseas to die in a meaningless battle for Ukraine (Zelensky is truly delusional if he thinks Americans will shed blood in his trenches – Even a draft would be an utter failure). No one is interested in starting WWIII, whether it be nuclear or just economic.
If the last three years have taught us nothing else, anyone with eyes in their heads knows that the U.S. dollar is failing as a store of value. The federal government seems determined to drive its value to zero and the rest of the world isn’t standing idly by… That’s why it’s absolutely crucial to diversify your savings out of dollars, into history’s proven safe-haven store of value assets: Physical precious metals.
I think the establishment's outrage over Tucker Carlson interviewing Putin is based on their fear that western audiences might see another side to the war and be even less interested in fighting.
This, however, does not negate the ability of NATO or Russia in expanding the war beyond Ukraine into other regions or into financial subterfuge (again, keep your eyes on Syria and Iran). Ultimately, they want us to choose sides, but only from the list of sides they approve. Liberty minded groups in the west need to choose our OWN side and fight for our own interests. It can't about NATO vs Russia, it has to been about free people vs the globalists. This is the only way these disaster events will ever end.
Brandon Smith has been an alternative economic and geopolitical analyst since 2006 and is the founder of Alt-Market.com.
The views and opinions expressed in this article are those of the author and do not necessarily reflect those of Birch Gold Group.
BGG - CTA Option 2 