Policy The Uniparty Is Only a Few Steps Away From Gutting the U.S. Dollar

The Heritage Foundation ^ | Feb 27 24 | EJ Antoni

[delta7]

KEY TAKEAWAYS Biden’s unprecedented freezing of U.S. dollars owned by a foreign central bank has fundamentally jeopardized the currency’s hard-won reserve status.

Janet Yellen dropped a bombshell last year, casually admitting that not only is de-dollarization happening, but Americans should expect more.

At a minimum, it’d be multiple years of double-digit inflation like we’re used to seeing in third world countries. At worst, it’d be a full-blown Weimar Republic.

America’s political establishment has less respect for the U.S. dollar than our foreign adversaries.

That was made clear when Tucker Carlson recently interviewed the Russian strongman President Vladimir Putin, who clearly articulated how the uniparty in Washington is destroying America’s greatest strategic and economic asset—her currency.

Last year, led by the chairman and ranking member of the relevant House and Senate committees, a bipartisan and bicameral bill was introduced that would hand another $300 billion to the Ukraine, this time in the form of the confiscated U.S. dollars owned by the Russian central bank and the Russian people.

There are now renewed calls for this measure as both the budget battle at home and the war in the Ukraine drag on.

Not during the Vietnam or Korean wars or at any point during the height of the Cold War did America do this to the Soviet Union. U.S. statesmen understood then, as our adversaries do now, that the dollar’s reserve currency status is among our most important global assets, both economically and strategically.

>>> The Decline and Fall of the U.S. Dollar

This steadfast principled commitment facilitated our post-war expansion of influence over global affairs and commerce, directed investment to the U.S., and kept inflation at bay by parking dollars as reserves the world over.

Eager to demolish this foundation of our global presence and dam that holds back inflation, the Washington uniparty is rallying behind the next step to gut the U.S. dollar.

We warned on this site before how Biden’s unprecedented freezing of U.S. dollars owned by a foreign central bank has fundamentally jeopardized the currency’s hard-won reserve status. In fact, it’s a main factor now driving dozens of countries away from what they see as a dangerous and unpredictable United States—countries now including France and Saudi Arabia.

Of course, China is eager to exploit these fears and welcome countries into its rapidly growing BRICS anti-dollar bloc.

After the Biden administration spent months scoffing at the mere hint of de-dollarization, Janet Yellen dropped a bombshell last year, casually admitting that not only is de-dollarization happening, but Americans should expect more—in her words, it’s “only natural” for countries to flee the dollar since the world is big.

In fact, countries are not fleeing the dollar because the world is big, they are fleeing because Biden made them question the U.S. dollar by using it as a political football where countries must grovel and obey Washington or risk having their national patrimony frozen.

Nations who disagree with Biden on abortion, homosexuality, fossil fuel use, etc. also run the risk of seeing their dollar reserves taken away. As if on cue, the Biden administration has threatened sanctions against countries with anti-sodomy laws such as Uganda.

This asset seizure bill would dramatically up the ante. If the U.S. is willing to not just freeze, but actually hand over a nation’s entire dollar reserves to another country, it confirms the worst fears of any country questioning whether they can count on the dollar or the U.S. at all.

>>> “Woke” Sanctions and Countries Abandoning the Dollar Will Ruin the World, Not Just U.S.

As more nations lose confidence in the dollar, they will sell their dollars. If enough countries do this, those trillions will come flooding home to America—essentially 70 years of deficits pouring in almost all at once.

This tsunami could set off an inflation the likes of which we haven’t seen in a century. Imagine the last three years of price increases put on steroids, amphetamines and covered in nicotine patches.

At a minimum, it’d be multiple years of double-digit inflation like we’re used to seeing in third world countries. At worst, it’d be a full-blown Weimar Republic replacing wallets with wheelbarrows for carrying around currency.

Such an economic catastrophe would, of course, take America off the world stage, not by choice but by necessity. The uniparty would have made their virtue-signaling gift to the Ukraine at the expense of America’s very standing as a world power.

The naïve calls for currency manipulation are a defiling of the dollar’s sanctity and an assault on people’s property rights. If the uniparty in Congress and the Biden administration push the issue much further, it will mean a long walk off a short pier into an ocean of misery for the American people.

[delta7]

Prepare accordingly……unless Someone like Trump can heel in the US war cheerleaders….even then the ball has started to roll.

[EvilCapitalist]

Time to buy more silver, and lead.

[Qwapisking]

more silver for the silver bullets needed to stop the bloodsuckers.

[elpadre]

Will we ever repair the damage the Obama/Biden cabal has caused??? Or have we crossed the point of no return??

[SaveFerris]

(Policy The Uniparty Is Only a Few Steps Away From Gutting the U.S. Dollar)

All according to plan.

You must use your Global One-World Digital Currency to shop at only "officially-approved" stores using your hand or cellphone 📱📱📱 to authorize payment.

That is all, Comrade Global Citizen.

Satan is certainly preparing the world 🌎🌍 for the debut of his Antichrist - the spirit of antichrist is empowering the godless reprobates 🐐🐐🐐

The sheep 🐑🐑🐑🐑🐑🐑 and the goats 🐐🐐🐐🐐🐐🐐🐐🐐🐐 are being divided like never before.





(lurkers please click on my screen name to see my FR homepage for more information)

[PghBaldy]

It is amazing how evil and stupid our leaders are. They will make a difficult future possibly existentially harmful to our system of government. We would not survive in our current state in a Weimar-level of inflation.

[SaveFerris]

You will own nothing and be happy - World Economic Forum

[Navy Patriot]

Policy The Uniparty Is Only a Few Steps Away From Gutting the U.S. Dollar

[EEGator]

Many here stated that flipping the SWIFT switch sent a signal to the world.

[Thunder90]

The plan is to seize all Chinese assets if they invade Taiwan and government ot to Taiwan itself. The difference is that Taiwan can make a claim to it as they are “The Republic of China”.

[dpetty121263]

We will never recover..time for a national divorce...

[CatOwner]

We will never recover..time for a national divorce...

Time for a planet reboot. I doubt it will happen anytime soon, so prepare to suffer.

[BobL]

It’s worth killing off the Dollar, at least if it means that we can drag out the Ukraine War though the November election.

(many Zeepers understand and agree with the above, other Zeepers simply want to ‘kill the commies’ and don’t understand the link)

[dpetty121263]

A planet reboot is coming but the Anti Christ will step out on the stage as well...

[Prolixus]

Inability to maintain the value of the state’s currency is major evidence of a failed state.

Our dollars should be worth more every year not less.

[Mariner]

Pay attention to this guy.

He’ telling the truth.

[VanShuyten]

“ …those trillions will come flooding home to America…”

Why? Are all those foreigners going to buy land here? They’re more likely to buy Brazilian soybeans or Chicom electronics or African ores. And a lot of foreign dollars are held as T Bills. Are they going to sell them at a huge discount to Americans?

[dragnet2]

Inability to maintain the value of the state’s currency is major evidence of a failed state.

100% and that is what we've been witnessing for years now. All produced and directed by those professional politicians in BOTH parties. They have failed in every direction!

[Boomer]

Sad Sack politicians are the problem, not the solution.