Conspiracy Theorist: 5/10

War for the dollar

By Mark Luedtke

Pat Buchanan is confused by U.S. foreign aggression. “And America is beginning to buckle under the weight of its global obligations,” he wrote. “And as we have no claim to rocks or reefs in the South China Sea—Vietnam, Taiwan, Malaysia, Brunei and the Philippines do—why is this our quarrel?”

The dollar is the vital interest, and the status of the dollar is the real reason for all recent U.S. wars. The dollar is the world’s reserve currency. That means all international trade can be settled in dollars. If a South African imports a product from Malaysia, he doesn’t have to acquire Malaysian currency first. He can pay with U.S. dollars. In order to facilitate trade, every country in the world keeps a huge stash of dollars in reserve. Thus the term world’s reserve currency. The dollar, which used to be considered as good as gold, replaced gold in that role.

This system has tremendous benefits for Americans. The Federal Reserve (Fed) can print money like crazy, and most of it ends up in foreign treasuries and central banks. This mitigates the rapid price inflation that would normally result. This allows Americans to buy foreign goods without paying full price. Foreign countries, by accumulating devalued dollars, pay part of the price. This enables Americans to live beyond their means.

But this system cannot last. It’s doomed by its very nature. Because the Fed prints money like crazy, the dollar is nowhere near as good as gold, and foreign governments know it. Over time, they will divest themselves of dollars, and those dollars will come back to America, creating inflation. It’s not a question of if, but when.

Oil is the most traded commodity in the world and is sold in dollars. The reason the U.S. remains allies with the Saudis is the Saudis long ago agreed to sell all their oil in dollars in return for U.S. protection. Saudi oil is the foundation of the oil-dollar linkage, called the petro-dollar, and is necessary for the dollar to remain the world’s reserve currency. That’s why Saudi interests often drive U.S. foreign policy.

Saddam Hussein, Muammar Gaddafi and Bashar Assad tried to sever the oil-dollar link, selling oil using other currencies. The U.S. invaded, toppled and killed the first two, and it’s doing the same to Assad in Syria. The Saudi’s ancient enemies in Iran have done so as well. That’s why the U.S. has surrounded Iran and constantly threatens to attack.

After oil and arms, illegal drugs are the third most traded commodity in the world, and they’re also traded in dollars. That’s where the term narco-dollar comes from. Before the Taliban took over Afghanistan, Afghanistan’s opium trade was a major prop for the dollar. The Taliban wiped out the opium trade, threatening the dollar’s status. That’s why instead of just wiping out the few hundred al Qaeda fighters after 9/11, the U.S. invaded, toppled the Taliban and reinstated Afghanistan’s opium trade, which is now at record highs. The War on Drugs is about raising the price, not eradicating drugs. Protecting the narco-dollar is the reason for the heroin epidemic in the U.S. and elsewhere.

Former Assistant Secretary of the Treasury Paul Craig Roberts explains U.S. aggression against China and Russia is also about protecting the dollar. “The Third World War is currently being fought. How long before it moves into its hot stage?” he asks. “Washington is currently conducting economic and propaganda warfare against four members of the five block group of countries known as BRICS—Brazil, Russia, India, China and South Africa. Brazil and South Africa are being destabilized with fabricated political scandals. Both countries are rife with Washington-financed politicians and Non-Governmental Organizations (NGOs). Washington concocts a scandal, sends its political agents into action demanding action against the government and its NGOs into the streets in protests.”

China is amassing gold in preparation for taking its currency international. Russia and Brazil are rich in oil. Russia exports oil to Europe through Ukraine and is building a new pipeline through Syria, sites of covert U.S. wars. China and India represent 2.5 billion people. A landlocked Chinese, Russian, Indian and European trading consortium couldn’t be controlled by the U.S. A successful BRICS trading block using China’s renminbi currency would spell the end of dollar hegemony, so the U.S. is trying to destroy it before it can succeed.

Seemingly unrelated U.S. aggressions are designed to protect the dollar system a little longer before it blows up on us all.

The views and opinions expressed in Conspiracy Theorist are the views and/or opinions of the author and do not reflect the views and/or opinions of the Dayton City Paper or Dayton City Media and are published strictly for entertainment purposes.

Mark Luedtke is an electrical engineer with a degree from the University of Cincinnati and currently works for a Dayton attorney. He can be reached at MarkLuedtke@DaytonCityPaper.com.

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Reach DCP freelance writer Mark Luedtke at MarkLuedtke@DaytonCityPaper.com.

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