The U.S. economy is being directed towards more export recently. At first glance it may seem normal, since every country has to export some products or services in order to be able to Import those, which it does not produces it self.
The only country in the world, which could afford the luxury not to be worry about exporting for several decades was U.S.
After WWII the U.S. became the Western superpower and has managed step by step to become the financial center of the world.
Four main instruments enabled this development.
1. The U.S. administration managed “wisely” to support all fighting parties in WWII and gained tremendous wealth by doing so. It supported as well the Allies with weaponry through the land and lease program, as well as Nazi Germany through it’s private corporations like General Motors, which established branches in i.e. Switzerland, and made clandestine profits from manufacturing goods for Hitler, or organizing the mass murder in concentration camps, as done by IBM (The tattooed numbers on prisoners are IBM numbers, see nazinexus.com by Edwin Black).
This way the U.S. profited from both sides of the conflict. At the end of WWII U.S. accumulated ca. 80% of world’s gold reserves.
2. After WWII the U.S. industry was the only one in the world which was left in tact, has gained tremendously in capacity and technological advancements. It did not have to deal with the rebuilding of the own country, and in combination with the gold exchange standart, which backed each 35 U.S. dollar with one ounce of gold according to Bretton Woods system, the stage was set for a super strong national currency, the U.S. Dollar.
3. The U.S. rejected to cooperate with the USSR due to ideological reasons after WWII, and having possessed the nuclear monopoly in 1945, it didn’t feel it has to share any of it’s influence. In fact, the U.S. administration did not expect the USSR to ever be able to attain nuclear weapons and planned to attack USSR and China by the mid 1950’s by nuclear means, counting here by with 600 Millions to be killed. (Oliver Stone’s Untold History of the United States). The upcoming of the Cold War made the U.S. an indispensable Allie for all Western countries to provide protection from the communism, which in turn supported the U.S. Dollar yet again.
4. After having overused the printing of U.S. dollar (Financing of wars – Korea, Vietnam – goes always through the printing press, today called Qualitative Easing), and therefore the necessity to abandon the Gold Exchange Standart (Nixon Shock, 1971), the U.S. administration made a deal with the kings and dictators of oil producing countries, which for it’s safety allowed the trade of crude oil in U.S. dollar only. (When Saddam Hussein started trading Iraq’s oil for Euro, U.S. invaded Iraq).
Now back to recent days.
After collapse of USSR, which did not use the financial instruments in similar ways as it’s main opponent, the
U.S. became once again too over confident.
It has pronounced the establishment of the new unipolar world order, in which it would dominate the world by it’s currency, supported by unchallengeable military might (U.S. doctrine is not to allow any country, even allies, to ever be able to challenge it militarily).
In doing so, it has instigated several wars with the intent to secure it’s global position, to deal with the remnants of the cold war, which were left without it’s patron the USSR, and to promote further weakening of it’s main and only opponent to be able to prevent is monopoly by military might – Russia.
Besides the fact, that the demise of Russia was halted by the upcoming new President Vladimir Putin, and after ten years in power he has brought an end to the imperialistic dreams of the U.S. administration, several more factors are changing the international constellation.
The economically underdeveloped Middle Eastern countries began to disintegrate with the surprise revolution in Tunis and forced the U.S. to destabilize further dictators which were of less importance for it’s Petrodollar empire, in order to prevent the destabilization in Saudi Arabia, Bahrain, etc., which are crucial for the U.S. dollar supremacy – still it is uncertain, whether these countries will be able to sustain for long term under the existing dictatorial rule.
China has developed tremendously over the last two decades and is not only about to overtake economically the U.S., but are highly motivated to make it’s currency to one of the main in the world.
Additional necessity of this desire created once again the unwise application of qualitative easing to finance the wars instigated by the U.S. in the past 20 years.
Therefore, confronted with the realities, that the U.S. Dollar is being used now days in only 33% in world trade transactions, versus 43% in Euro, the progress of China, Russia in all regards, the instability in Middle East, etc. the U.S. administration has hopefully made the right decision, which may benefit all parties involved – it will concentrate on it’s real economy, abandon the desire to control the world by a fake financial industry, by military might, by creating international conflicts for it’s advantage – short, by bad boy behavior.
Time will show, whether the highly decorated Ivy League politicians have incorporated the proper lessons from history classes.