But Things Have Changed...

After becoming the good guys by winning WWII, we could call the shots, people were happy to have our leadership...

Washington’s power ultimately rests on the dollar as world reserve currency. This privilege, attained at Bretton Woods following World War 2, allows the US to pay its bills by issuing debt. The world currency role also gives the US the power to cut countries out of the international payments system and to impose sanctions.

But that is not the case today.  We destabilize countries like Nigeria (wherever oil and Muslims meet, the USA is there!), and we play fast and furious domestically and internationally.   One key player in the USA 2008 correction was the fraud perpetrated by USA rating agencies.  Those once were considered fair umpires of value, but once they gained government sponsorship they went bad.  So in this current contretemps with Russia, the rest of the world is taking the opportunity to come up with alternatives.

The Russian Finance Ministry believes moving away from international ratings agencies is just a question of time. Russia is eager to break the world monopoly of rating systems and create its own rating giants.

Yes, people are using alternatives to the USA more and more.  It was good while it lasted.  We need to bring our troops home, and give them some of the BLM land to farm.

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