The United States Dollar is Finished by Paul Craig Roberts!
(2023-05-01 at 15:23:53 )

The United States Dollar is Finished by Paul Craig Roberts!

Are You Ready for High Inflation and Collapsing Living Standards?

United States power since World War II has been based on its financial dominance stemming from the dollar being the reserve currency held by central banks in place of gold.

As the dollar was the currency used to settle international trade accounts, every country needed dollars. That ensured a large demand for dollars to absorb the supply of dollars from the growing United States budget and trade deficits. In effect, the dollar as world reserve currency allowed the United States to pay its bills by printing money.

In recent years Washington,D.C.s abuse of United States financial power, such as sanctions on Russia and other countries and the theft of Russian central bank reserves, has taught the world that Washington,D.C. uses the dollar-based system for coercive purposes to deny other countries independent, foreign, economic, and trade policies.

Consequently, as Pepe Escobar explains, there has been a rapid move away from the use of the dollar as reserve currency. In other words, the demand for dollars is shrinking. "please read here:"

But not the supply!

The supply is exploding!

Budget deficits are running in the trillions of dollars while the Federal Reserve shrinks economic growth and the tax base, and nothing can be done about the United States trade deficit.

The decision to offshore United States manufacturing was an economy-wrecking decision. The goods that Apple, Nike, Levi, and all the others make in China and Asia enter the United States as imports when they are marketed in the United States.

The United States, having moved its manufacturing offshore, has little to export to cover the trade deficit resulting from imports.

By using their trade surpluses with the United States to purchase United States Treasuries, foreigners financed the United States budget deficit and United States wars.

As countries increasingly settle their trade imbalances in other currencies, foreign demand for United States debt is declining.

The consequence is that the supply of dollars is increasing, but the demand for them is falling.

This means a drop in the exchange value of the dollar, which means a rise in import prices. The worst inflations are caused by the decline in the exchange rate of a currency. It is an inflation that the central bank cannot fight by throwing people out of work.

This is the United States of Americas future, and I do not mean in ten years.

I have been warning of this development, but the presstitute media does not report any facts unfriendly to the official narratives, everyone of which is a lie.

The United States can hold on for a while longer by having the Japanese, European, and British central banks print their currencies with which to purchase dollars, thus cushioning the dollars decline. But the consequence is that these currencies also will fall in value relative to those outside the dollar system. In other words, the plight of the dollar will spread throughout the empire.

Wall Street, greedy corporate executives and boards, and incompetent policymakers in Washington,D.C. offshored United States manufacturing and made the United States import-dependent.

Next they destroyed the dollar as world reserve currency and thereby doomed the dollar to devaluation against other currencies, and this will destroy United States power!!

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