Dump the Dollar!: How the World Can Stop Bush

[on_strike_usaexpat]

Another gem from Paul Craig Roberts missed by the SotT editors.

An excerpt:

... Much of the world realizes the hypocrisy and danger in the Bush Regime's justification of the unbridled use of US military power, but no countries except other nuclear powers can challenge American aggression, and then only at the risk of all life on earth.

The solution is nonmilitary challenge.

The Bush Regime's ability to wage war is dependent upon foreign financing. The Regime's wars are financed with red ink, which means the hundreds of billions of dollars must be borrowed. As American consumers are spending more than they earn on consumption, the money cannot be borrowed from Americans.

The US is totally dependent upon foreigners to finance its budget and trade deficits. By financing these deficits, foreign governments are complicit in the Bush Regime's military aggressions and war crimes. The Bush Regime's two largest lenders are China and Japan. It is ironic that Japan, the only nation to experience nuclear attack by the US, is banker to the Bush Regime as it prepares a possible nuclear attack on Iran.

If the rest of the world would simply stop purchasing US Treasuries, and instead dump their surplus dollars into the foreign exchange market, the Bush Regime would be overwhelmed with economic crisis and unable to wage war. The arrogant hubris associated with the "sole superpower" myth would burst like the bubble it is.

The collapse of the dollar would also end the US government's ability to subvert other countries by purchasing their leaders to do America's will.

The demise of the US dollar is only a question of time. It would save the world from war and devastation if the dollar is brought to its demise before the Bush Regime launches its planned attack on Iran.

Entire article can be found at:
http://www.counterpunch.org/roberts02122007.html

 

[anart]

Another gem from Paul Craig Roberts missed by the SotT editors.

What is it with you? This is the forth time since the new SotT page came out that you've made some disparaging comment about the SotT editors concerning the content, or because of not posting some article by Roberts. The other comments have been in the comment section of the SotT page itself. If you don't like the content, that's your choice - but no need to whine about it. Sheesh.

The first two negative comments you made, I figured maybe you were in a bad mood or something, and the third one made me suspect there was more to it than that - and now this. So, what's up?

 

[on_strike_usaexpat]

Actually all just comments nothing more. Didn't realize or expect that they were actually being paid attention to.

I find Roberts a clear, common sense writer whose origins from the old conservative right add to the breadth of SotT's other outside of SotT profiled articles which are primarily from the left and often times overly biased in the orthodoxy of their "side".

What got me was the seemingly sudden halt to his penetrating and clear articles which I'm sure almost all SotT'ers would be in agreement with. Originally seeing SotT post his articles bolstered my confidence that SotT was after the truth from whichever direction and had no axe to grind.

I'll shutup from now on.

 

[anart]

No need to shut up, unless you feel like it, of course. I just figured if you had some suggestions to make, it would be helpful if you just came on out and made them, instead of making the little remarks. I agree with your take on Roberts, for the most part. I find a lot of what he writes to be spot on, fwiw.

There's no reason why you can't post his new articles that you deem worthy here on the forum and the editors could take it from there, if they think it's a good match - I'm sure that with all they have on their plates, that articles slip by from time to time - so it might even take a bit of a load off for them. Just a thought.

 

[Peto]

If the rest of the world would simply stop purchasing US Treasuries, and instead dump their surplus dollars into the foreign exchange market, the Bush Regime would be overwhelmed with economic crisis and unable to wage war. The arrogant hubris associated with the "sole superpower" myth would burst like the bubble it is.

The collapse of the dollar would also end the US government's ability to subvert other countries by purchasing their leaders to do America's will.

The demise of the US dollar is only a question of time. It would save the world from war and devastation if the dollar is brought to its demise before the Bush Regime launches its planned attack on Iran.

The "rest of the world" that is buying US Treasuries is not the ordinary people, who never have a choice in the matter. It is the same ultra-rich capitalist class. If the US dollar does collapse eventually, it will be because it is in their interest for that to happen. And they will have transferred their capital to other countries long before that.

 

[Renaissance]

The US is totally dependent upon foreigners to finance its budget and trade deficits. By financing these deficits, foreign governments are complicit in the Bush Regime's military aggressions and war crimes. The Bush Regime's two largest lenders are China and Japan. It is ironic that Japan, the only nation to experience nuclear attack by the US, is banker to the Bush Regime as it prepares a possible nuclear attack on Iran.

If the rest of the world would simply stop purchasing US Treasuries, and instead dump their surplus dollars into the foreign exchange market, the Bush Regime would be overwhelmed with economic crisis and unable to wage war. The arrogant hubris associated with the "sole superpower" myth would burst like the bubble it is.

Why is this a gem? The author seems inclined to cut off his nose to spite his face. His article looks more like a blind plan of revenge on the U.S. government rather than a sincere attempt to stop destruction. An economic collapse appears to be the intention of those working behind the scenes. Millions of real human beings will be going through a depression that will make the Great Depression seem like a dance in the park. In Roberts lust to burst the "sole superpower" myth he seems to forget the extent of damage this will do to humanity. And will war really stop then? With the U.S.'s military assets (the only real assets they seem to have), it doesn't seem likely.

I'm sure if all nations holding reserve dollars could dump them all at once and not be affected, they probably would. But the world economy would be affected. Even though the dollar is based on illusion, the trust put in this lie has a value and when it's diminished the world economy will have be impacted. China has been incrementally getting rid of their dollar reserve for some time.

This whole idea somewhat similar to Kucinich's plan to stop the war internally. While I agree with the need to stop fueling the pathocrats' destruction, I can't see how it can happen without a real understanding of who they are.

 

[name]

to dump dollars in favour for something else and hope to 'stop them' would be an a exercise in futility:

* first, you couldn't dump them as fast as they can print new ones.
* second, the US is not 'dependent' on foreign credit for anything. that is IMHO a superficial (and faulty) understanding of what is going on. the US does not receive credit from other entities - mainly banks and govts - because it is 'so needy' but because those entities are in on the loot. to them it is a highly profitable investment, to you (and me) it is debt with which we are loaded.

in capitalism nobody receives credit because they are needy, they receive it because to give it to them would be profitable (this is pure STS behavior, different from what 'normies' would do). also, if you look at the euro/usd exchange rate, it has been floating around 1.3/1 for some time, what means to me that it is being 'managed' rather than it is reflective of the intrinsic value of either denomination; both are fiat money after all, and are not supposed to have any intrinsic value reflecting (for example) either productivity, wealth, or a backing by precious metals.

if you want to know where all the wealth is going, look, for example, at the gulf states - kuwait, bahrain, qatar - and the emirates with their incredible economic booms. IIRC, construction in the gulf is tying up half of the cranes worldwide to give you an idea of the scale of what is going on. the scale of this boom is only partially explainable by petroleum revenues. the other (and probably bigger) components feeding what is going on are a) drug moneys and b) loot from the US wars and c) wealth pillaged from the US and european treasuries. and, all of the construction work going on there is for the rich. there is no social housing being made there, the gulf will be an enclave for very rich people, strategically placed to be out of the reach of the bestolen ones.

 

[Niall]

The US is totally dependent upon foreigners to finance its budget and trade deficits. By financing these deficits, foreign governments are complicit in the Bush Regime's military aggressions and war crimes. The Bush Regime's two largest lenders are China and Japan. It is ironic that Japan, the only nation to experience nuclear attack by the US, is banker to the Bush Regime as it prepares a possible nuclear attack on Iran.

If the rest of the world would simply stop purchasing US Treasuries, and instead dump their surplus dollars into the foreign exchange market, the Bush Regime would be overwhelmed with economic crisis and unable to wage war. The arrogant hubris associated with the "sole superpower" myth would burst like the bubble it is.

Come on now, how insightful is this really? Supreme wishful thinking, no? Same master at those levels.

What got me was the seemingly sudden halt to his penetrating and clear articles which I'm sure almost all SotT'ers would be in agreement with. Originally seeing SotT post his articles bolstered my confidence that SotT was after the truth from whichever direction and had no axe to grind.

PCR is SO aligned with the truth, that he has found the key to halting the Beast?! Dude, as a SotT'er, you must've realised by now we're dealing with something far more complex!?! [And yet simple - ie Psychopathy being the root expression of socio-economic problems]

 

[on_strike_usaexpat]

And you all think the other outside of SotT writers profiled on SotT - left, right, center, libertarian, etc. - are any better, brighter and more insightful than PCR?

Are you saying marching in the streets, printing posters, spending time on your blogs, participating in online forums, calling for Congress to impeach will make more of a difference?

If you read the entire article, would you prefer nuclear contamination of the northern hemisphere or a needed rearrangement (though painful and less than perfect) of the world economic system? History does show that all empires fall because of the inability to continue financing largess at home and abroad, see England as the last important example.

So we let a possible war using nukes start because nothing can be done anyways. PCR previously said the only conventional way to stop it is for Congress to impeach the President. Since now apparently that won't happen what are the logical ways left? Possible confrontation with the remaining nuclear powers, a coup of some sort or imposed economic crisis on the US. Of course a metoid could hit and make everything a moot point.

Thanks for your time.

 

[Peam]

PCR previously said the only conventional way to stop it is for Congress to impeach the President.

If PCR thought impeaching Bush would stop anything he's not seeing the bigger picture imo.
Bush is a puppet. If he was impeached tomorrow the PTB would very likely wheel someone else into position to do and say whatever they tell him to, and not much would alter. Wouldn’t matter if it was a republican or democrat because it looks like both parties dance to the same masters now, just as China and most other countries probably do.
If that’s true, China, Japan etc probably won't dump the dollar until they are told to.

 

[Mr. Premise]

The problem is that an economic collapse of the United States would just play into the hands of the neocon PTB in the U.S. They would blame whoever it is they wanted to bomb next.

The pain would not fall on the people starting the wars and sending the bombers. It would fall on average people and be used to institute total control.

If an economic collapse would actually stop them, I would be all for it, but I don't think it would.

So we let a possible war using nukes start because nothing can be done anyways. PCR previously said the only conventional way to stop it is for Congress to impeach the President. Since now apparently that won't happen what are the logical ways left? Possible confrontation with the remaining nuclear powers, a coup of some sort or imposed economic crisis on the US. Of course a metoid could hit and make everything a moot point.

Thanks for your time.

 

[on_strike_usaexpat]

If PCR thought impeaching Bush would stop anything he's not seeing the bigger picture imo.
Bush is a puppet. If he was impeached tomorrow the PTB would very likely wheel someone else into position to do and say whatever they tell him to, and not much would alter. Wouldn’t matter if it was a republican or democrat because it looks like both parties dance to the same masters now, just as China and most other countries probably do.
If that’s true, China, Japan etc probably won't dump the dollar until they are told to.

Depends if some of the competing factions in the PTB see an attack on Iran and the possible ramifications as not really in their interest (like the puppet masters surrounding papa Bush). Yeah they can remove Dubbya and replace the puppet but if that puppet follows the order to stand down on Iran, I would say that part would be OK.

 

[on_strike_usaexpat]

The problem is that an economic collapse of the United States would just play into the hands of the neocon PTB in the U.S. They would blame whoever it is they wanted to bomb next.

The pain would not fall on the people starting the wars and sending the bombers. It would fall on average people and be used to institute total control.

If an economic collapse would actually stop them, I would be all for it, but I don't think it would.

That leaves replacing the puppet (coup) or nuclear confrontation with Russia. If all else fails then northern hemisphere folk should start studying the effects of the use of "limited" nuke strikes on Iran, fallout patterns, air flows, decontamination of produce, possible large-scale migrations of peoples, medical effects - long term and short term, herbs and medicines that keep the immune system strong and prevent the buildup of radioactive isotopes in the thyroid etc.

 

[Mr. Premise]

Yes, it is a sign of how bad the situation is when our best hope is a military coup by Bush I, the CIA and Pentagon Generals. Unbelievable!

That leaves replacing the puppet (coup) or nuclear confrontation with Russia. If all else fails then northern hemisphere folk should start studying the effects of the use of "limited" nuke strikes on Iran, fallout patterns, air flows, decontamination of produce, possible large-scale migrations of peoples, medical effects - long term and short term, herbs and medicines that keep the immune system strong and prevent the buildup of radioactive isotopes in the thyroid etc.

 

[Petey of Lone Tree]

If all else fails then northern hemisphere folk should start studying the effects of the use of "limited" nuke strikes on Iran, fallout patterns, air flows, decontamination of produce, possible large-scale migrations of peoples, medical effects - long term and short term, herbs and medicines that keep the immune system strong and prevent the buildup of radioactive isotopes in the thyroid etc.

Which only serves to remind me of the article I quoted on Feb. 11 in the "Editorials" section entitled, "Bush plans South American tour" http://www.upi.com/NewsTrack/Top_News/20070208-072039-6691r/