by Michael Krieger
The United States is
currently waging economic warfare against one tenth (10%) of the
world's countries with cumulative population of nearly 2 billion
people and combined gross domestic product (GDP) of more than
...and others on
which Washington has imposed sanctions over the years, but also
...which are not
under full sanctions but rather targets of other punitive
In addition, thousands of individuals from scores of countries
are included in the Treasury Department's list of Specially
Designated Nationals who are effectively blocked from the
U.S.-dominated global financial system.
Many of those
designated are either part of or closely linked to their
But in recent months it seems that America's unwavering
commitment to fight all of the world's scourges has brought all
those governments and the wealthy individuals who support them
to a critical mass, joining forces to create a parallel
financial system which would be out of reach of America's long
Should they succeed,
the impact on America's global posture would be
The Anti-Dollar Awakening Could Be Ruder
and Sooner Than Most Economists Predict
The peak of American
empire has already come and gone, a reality not yet widely
appreciated due to the continued dominance of the global financial
system by the U.S. dollar, still the world's preeminent reserve
U.S. leaders have always
used the USD as a weapon, but it's only in recent years that
geopolitical rivals and long-standing allies alike have started to
come to an increasingly vocal understanding that the unipolar role
played by the U.S. in the world's centralized financial system is
well past its expiration date.
I think history will show Trump's decision to unilaterally scrap
the Iran deal (JCPOA)
was the catalyst that caused much of rest of the world to get
serious about creating alternative financial rails on which to
conduct global business.
Nation-states the world
over are coming to the obvious conclusion that it's virtually
impossible to execute independent foreign policy in the context of a
global financial system so completely dominated by the U.S.
European countries that entered the Iran deal wish to remain in it,
but this has been complicated by the
administration's decision to use the global financial
system as a weapon. Although this angered leaders across the pond
back in May when it first went down, it was unclear whether they'd
just roll over as usual.
Months later, it appears
First, we saw comments last week from Germany's foreign minister
Heiko Maas. Here are a few excerpts from his widely read column
published last week at Handelsblatt.
The US monopoly over
the global payments infrastructure has been challenged by
Germany's foreign minister, Heiko Maas, who has suggested that
the European Union should set up its own payment system that
would give Brussels independence from Washington.
wrote in the German daily
Handelsblatt on Tuesday that the EU should,
European autonomy by creating payment channels that are
independent of the United States - a European Monetary Fund
and an independent SWIFT system."
"Europe should not allow the U.S. to act over our heads and
at our expense," Maas wrote.
Maas called for a
"balanced partnership" with the U.S., in which Europe would fill
gaps in the world left by the American withdrawal.
He said Europe must,
counterweight when the U.S. crosses red lines."
"It is high time to re-evaluate our partnership… The
Europeans must become a mainstay of the international order,
a partner for all who are committed to this order," Maas
Those are strong words,
words that have not been walked back since. In fact, other historic
U.S. allies feel emboldened to echo similar sentiments.
reported by Bloomberg
"With Germany, we
are determined to work on an independent European or
Franco-German financing tool which would allow us to avoid
being the collateral victims of U.S. extra-territorial
sanctions," French Finance Minister Bruno Le Maire said
Monday during a meeting with press association AJEF.
"I want Europe to
be a sovereign continent not a vassal, and that means having
totally independent financing instruments that do not today
"We have to react and strengthen Europe's autonomy and
sovereignty in trade, economic and finance policy," Maas
said in a speech in Berlin.
Minister Chrystia Freeland also spoke at the event and
said that her nation shares the goal of preserving a
multilateral world order.
If this sort of talk was
merely limited to a couple of European nations expressing
frustration with SWIFT, I probably wouldn't have written this post.
Where it gets really
interesting is when you compare the sentiments highlighted above
with the extraordinary statement made by Pakistan's recently elected
Prime Minster Imran Khan in the clip below:
But that's not all. Take a look at the following excerpts from
an article written by Daniel
Sneider, (Lecturer in East Asian Studies at Stanford University)
in Tokyo Business Daily.
Inside the national
security bureaucracy, there is growing alarm over relations with
South Korea. On the surface, President Moon and his
government continue to support U.S. diplomacy and reinforce its
messages to Pyongyang.
But things are
starting to shift, with Seoul telling administration officials
that the nuclear issue is basically between the U.S. and North
Korea and that they want to separate their engagement with the
North from progress on that issue.
"We have a big
problem coming with South Korea," a senior official involved
in the talks told me.
"It has reached
the point where the South Koreans are determined to press
ahead. They no longer feel the need to act in parallel with
Moon is planning a
visit next month to Pyongyang. He is eager to proceed with
projects such as rail and pipe lines that will run from South,
through the North, to Russia and China, as he outlined in a
Taken together, we can
see a big picture starting to emerge.
Countries around the
world, including many longstanding U.S. allies, are starting to very
publicly express frustration with U.S. imperial bullying, as well as
deep concern with the limits placed on national sovereignty by a
unipolar world centralized in Washington D.C.
We're beginning to see the emergence of a global consensus related
to two crucial geopolitical perspectives:
understanding that a world unilaterally controlled by an
imperial U.S. which demands all other nations accept vassal
status is no longer tenable.
a more multi-polar world cannot truly come into being
without displacing, or at the very least creating, a viable
alternative(s) to the USD-centric global financial system.
These developments have
not been lost on many in the beltway, which is precisely why U.S.
tech giants are being rapidly weaponized in a struggle to maintain
While the seemingly
coordinated deplatforming of Alex Jones was the canary in the
coal mine, the tech giants have also moved against several countries
seen as problematic when it comes to achieving full spectrum
dominance of the U.S. empire, including Venezuela, Iran and of
As I tweeted last week:
It's really undeniable at this point. U.S. tech giants are merely
extensions of the U.S. shadow government - complicit organs of the
imperial state masquerading as private companies.
While unquestionably disturbing, I see recent moves by the tech
giants as part of a desperate response to the huge cracks developing
beneath the post-World War II geopolitical paradigm. A status quo
confident in its position or role in the world would never resort to
such blatant attempts at censorship. This is all rooted in fear,
insecurity and a futile desire to hold onto a world that is
I've discussed these themes continually over the years, but it's
nevertheless extraordinary to see it begin to play out. The tectonic
plates of geopolitics are finally starting to shift. Slowly at
first, rapidly later, and I expect the world to be entirely
different in structure by around 2025.
Today's post should be seen as an update to a four part series published earlier this year: