"US Dollar Primacy in an Age of Economic Warfare"
Am glad some West Pointers are starting to become more interested in the economic side of this ongoing, mutlidecade war. I have been telling my fellow graduates this for years. Good luck!
We think it would be near impossible to understate the importance of energy underlying geopolitical and economic forces. And that it would be impossible to overstate the role that neo-environmentalism has played in influencing the geopolitical chess board.
This essay dovetails nicely with our own paper.
H/t Michael St. Pierre for the share.
"Contrary to myth, the trade deficit is not a cause of deindustrialization or a loss of manufacturing jobs. In fact, the current balance of trade points to America’s continuing influence in global affairs—as a haven for global investment, as a robust producer and buyer of global goods and services, and as the provider of a strong dollar that remains at the center of the global economy."
Dr. Perry Mehrling does a great job explaining two key themes that we also covered in our paper:
1. Global USD system EVOLVED from bottom-up and NOT mandated from top-down.
2. SUPPLY ELASTICITY is prerequisites for GRC.
With all the interventions, lies, scams, hedge funds, CTAs and so forth no sense can really be made.
It's all about greed, power and corruption and the military industrial complex.
Forget the narrative they control it in the mass media.
We don't want/need soldiers to worry about economic warfare. That worry lies entirely with "national security advisers." Unfortunately the troika of James Blinken, Victoria Nuland, and Jake Sullivan are obsessed with destroying Russia and not interested in any other U.S. interests. Well, they do like to insult Chinese government and party members and have pretty much destroyed any chances of diplomatic relations with China.
The USA is going to be weakened further if they don't stop hyper-financialization. People won't work.