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Dethroning the US dollar

Jul 13, 2012

Economic sanctions used to be effective, because world trade was being done in US dollars via the electronic banking system. Sanctions meant that a nation would be frozen out of electronic banking, so they could not make payments or get paid electronically.

But in recent years, many nations are now tired of the US government using its position as the issuer of the "world currency" as a means of controlling other nations and imposing its will upon them.

This is a big reason why China and other countries are setting up their own direct trade, bypassing the US dollar, and trading in their own currencies. For instance, Turkey is trading gold for oil, rather than in dollars.


Not long ago, Iran made a similar pact with India.

It appears that this is one of the ways that Persia (Iran) is overthrowing Babylon in our time. In the end, it will make no difference if someone bombs Iran or not. The consequences of US policy are already being seen in world trade, and the two really big economies of China and India are moving toward a new system that dethrones the US dollar.

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Category: News Commentary

Dr. Stephen Jones

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