1mo ago

US gov't is very afraid of BRICS and dedollarization, Trump insiders reveal. That's why he's attacking Brazil

www.geopoliticaleconomy.report US gov't is very afraid of BRICS and dedollarization, Trump insiders reveal. That's why he's attacking Brazil

Close Trump allies like Steve Bannon say "the president is pissed every time he looks at the BRICS dedollarization effort". The US fears the Global South challenge to the dollar's exorbitant privilege

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The doller has won purely because it is respected around the world
That is not correct, dollar won because US, being the economical winner of WW2, made all other notable capitalist economies dependent on it in Bretton Woods accords and effectively hegemonised oil trade in much of the world.
- Well yes. That is why it was respected. America used it's delayed entry to build it's reduction capability. Used that to help win. Then not having exhausted it took advantage.
  But while correct. It's a more accurate way of saying the doller was respected. As a strong trade currency other nations could use.
  
  They also fucked up entire Japan economy (and kicked hard several others) with it in Plaza Accords, dollar is a weapon.
  
  Wikipedia disagrees with you. None of the other members of the Plaza Accords had an economic bubble. It blames the massive expansionary monetary and fiscal policies that lead from the Plaza Accords since Japan was now considered a major player in the international monetary system.
  
  None of the other member of Plaza Accords was so dependant on trade with US (especially Germany since German Mark was the second currency in question), so while i would maybe agree about others not being kicked that hard, but those accords were aimed specifically at Japan.
  
  Wikipedia disagrees with you.
  I am once again begging liberals to stop treating Wikipedia like it's The Holy Scripture.

52 comments