When the Trump administration unilaterally pulled out of the Iran nuclear agreement in May 2018 and announced it would reimpose sanctions against Iran, the European Union (EU) declared its commitment to preserving the agreement and finding ways for its companies to circumvent U.S. sanctions. Now, eight months later, the Europeans finally announced the creation of INSTEX (Instrument In Support Of Trade Exchanges) as an alternative payment system so that European firms can do business with Iran.
All it takes is the guts to form banking entities like the Europeans are doing.
Buh-bye petrodollar. It’s only a matter of time. Of course, with climate chaos kicking in, who cares?
Sounds like the natives are restless. The world has had enough of our BS, who can blame them?
To force the Iranian government back to the table to negotiate a deal that would ban nuclear weapons forever, end its ballistic missile program, and stop its support for armed groups such as Hezbollah.
We have to serve Israel: No sacrifice of our blood or treasure is too great. If needed, as John Bolton pushes, we should trash Iran and go to war.
There are 4 independent central banks: Cuba, Syria, North Korea and Iran. The last to leave that exclusive club were Libya, Ukraine, Iraq and Afghanistan. The US government is a mercenary force for the private international banksters/oiligarchs. Nothing frightens the .00001% more than the thought of the 99% and their nations will awaken and exercise their power. In a certain sense Venezuela, the country deemed by independent international assessment as a more democratic country than any imposing sanctions is a threat to the banksters/oiligarchs in that like Libya was using its oil wealth to create an independent continent wide financial network.
Where the US is using its military and economic power Wall Street stands to increase its control. The .00001% can create almost infinite amounts of money from the Cloud. True wealth lies in land, labor and resources which cannot be created on a keyboard. If a new Venezuelan regime privatizes oil and its revenue, Venezuela will have to borrow from the IMF to maintain any semblance of former social welfare benefits. Then Venezuela will have to make land and other resources like water available to the bankster/oiligarchs in order to repay the IMF. This playbook has been used for over a hundred years and will continue to work until the 99% awaken and take back their power.
Nice post. Shades of John Perkins there.
Perspicacious post! But one has to wonder when, if ever, will the 99% AWAKEN and take back their political… power.
“Will Iran Sanctions Herald the Fall of the Imperial Dollar?”
Could be the best, least painful, corrective event for the wayward U.S. (If our sick, corrupt leaders can be kept from lashing out militarily to prevent that fall.) Take away the power of the dollar as the world’s reserve currency. Force America to join the ranks of “not the greatest”. We’re not, anyway, except in our own eyes.