by Eric Blair
March 18, 2015
How do you know a dollar collapse is
coming? Because the rest of the world is preparing for it.
Western allies are flocking to join the new China-led Asian
Infrastructure Investment Bank (AIIB), while the United
World Bank sit on the sidelines and
lecture them about "appropriate" financial governance.
The United States has urged
countries to think twice before signing up to a new China-led
Asian development bank that Washington sees as a rival to the
World Bank, after Germany, France and Italy followed Britain in
saying they would join.
The concerted move by U.S. allies to
participate in Beijing's flagship economic outreach project is a
diplomatic blow to the United States and its efforts to counter
the fast-growing economic and diplomatic influence of China.
Europe's participation reflects the eagerness to partner with
China's economy, the world's second largest, and comes amid
prickly trade negotiations between Brussels and Washington.
"I hope before the final
commitments are made anyone who lends their name to this
organization will make sure that the governance is
appropriate," Treasury Secretary Jack Lew told U.S.
It seems many countries are growing
tired of the U.S.'s arbitrary economic sanctions, playing politics
with the SWIFT system, dollar manipulation of commodities,
strangling IMF and World Bank debt with unequal representation in
Not to mention the ruthless violence
used to protect this racket.
China is tired of waiting to be granted more power in international
banks so they're creating their own opportunities around the world.
They're involved in creating the
BRICS development bank, an
alternative to SWIFT, building a
canal in Nicaragua to rival the
Panama Canal, and now this new Asian Infrastructure Investment Bank
In other words, it's on.
"If you try to fight the rising
power's peaceful ascent you sow big problems in the future,"
Fred Bergsten, a former official at the U.S. Treasury and
currently a fellow at the Peterson Institute in Washington told
Over the last few years US-imposed
sanctions have had less and less effect as nations find ways around
These new systems will make sanctions
essentially worthless, and the biggest losers of sanctions may end
up being US companies who're prohibited from trading in certain
parts of the world.
Despite the corporate media's best efforts to drum up conflict with
Russia, sanctions haven't worked, leading some Western hawks to
promote cutting off Russian banks from SWIFT.
This was met by
Russia threatening retaliation which
resulted in Russia being awarded
a seat on SWIFT's board for the first time.
Can you smell the desperation? American dominance in the world
economy is clearly waning. The US dollar is also slowly being
diluted as the world reserve currency and all the key players know
it. In fact, it's now happening by design.
The dollar is currently enjoying record spending strength in the
global economy for no fundamental reason except that oil
is measured in dollars.
The oil price crash feels like a
last-ditch effort to boost demand for dollars. Yet national debt
levels, endless wars, and the fake paper economy ensures that this
facade will eventually collapse, probably as fast as it was created.
This new alternative system may limit the contagion of a dollar
collapse. It's basically a good thing that the world will have more
choice in how it moves money.
But, be warned, it is no different than
the current fractional-reserve debt-based parasite that currently
leeches off most of the planet, save for slightly different board
Nevertheless, I bet the establishment will hail them as saviors when
the US economy can no longer bail itself out.