The US Monetary Monopoly under Challenge and a New World Order

Connections ^ | July 4, 2003 | Warren Pollock

[wepollock]

In a sense the currency reserve structure provides the US with the hegemonies of superpower because it established a monopoly in capital formation, allocation, and investment. The global economic system has been biased to the US Dollar therefore the following economic dynamic operates as a background process through the normal function of stock, commodity, and currency markets; ........... The formation of geopolitical blocks such as the European Union, and a less visible Pan Islamic Union organized around the Islamic Development Bank are aligned to supplant USD hegemony. One layer deeper a "Komplimentranost"of Eurasianism consisting of China, Russia, India, parts of Central Asia and the resource rich but highly radioactive Kazakhstan are eventually going to find economic synergies of union.

We are seeing the short-term story of the long-term unwinding of the USD monopoly as the world reserve currency