{"id":552058,"date":"2017-09-13T20:13:06","date_gmt":"2017-09-13T20:13:06","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=552058"},"modified":"2017-09-13T20:13:06","modified_gmt":"2017-09-13T20:13:06","slug":"americas-weapons-the-dollar-and-the-drone-2","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=552058","title":{"rendered":"America\u2019s Weapons: \u201cThe Dollar and the Drone\u201d"},"content":{"rendered":"
<\/a><\/div>\n

By Brian Maher<\/a><\/span> <\/p>\n

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This post America’s Weapons: \u201cThe Dollar and the Drone\u201d appeared first on Daily Reckoning.<\/p>\n

It was said that \u201cthe guinea and the gallows\u201d were the true instruments of British imperial power.<\/p>\n

The guinea represented the coined wealth of Great Britain.<\/p>\n

The gallows represented its\u2026 constabulary zeal in policing restless natives.<\/p>\n

This is the 21st century of course\u2026 a time of enlightenment.<\/p>\n

Today’s instruments of imperial power are no longer the guinea and the gallows.<\/p>\n

No. Today’s instruments of imperial power are \u201cthe dollar and the drone.\u201d<\/p>\n

The dollar and the drone are America’s weapons.<\/p>\n

Like the 19th-century pound (which replaced the guinea), today’s dollar is the world’s reserve currency.<\/p>\n

Like the 19th-century pound, the dollar finances some two-thirds of global trade.<\/p>\n

And the gallows?<\/p>\n

Britain hanged its foreign trouble. America explodes its own in drone attacks.<\/p>\n

Here is civilization; here is progress.<\/p>\n

The sun eventually sank on the British Empire\u2026 the gallows came down\u2026 and the pound lost its global reserve status.<\/p>\n

The U.S. will have its drones. But is its other weapon, the dollar, close to losing global reserve status?<\/p>\n

Recent developments may tell\u2026<\/p>\n

The global oil trade has centered on the dollar since 1974, when Saudi Arabia agreed to enthrone the dollar as currency of the oil market.<\/p>\n

If it was oil you wanted\u2026 it was dollars you needed.<\/p>\n

But now China \u2014 world’s top oil importer \u2014 is preparing to create an oil market that bypasses the dollar entirely.<\/p>\n

The plan would let China buy oil from Russia and Iran with its own currency, the yuan.<\/p>\n

But the yuan is not a major reserve currency like the dollar.<\/p>\n

Under this plan, Russia and Iran would be able to swap yuan for an asset far more desirable than Chinese scraps of paper \u2014 gold itself.<\/p>\n

Perhaps that explains why China’s been hoarding so much gold in recent years?<\/p>\n

Jim Rickards says this system marks the beginning of the end for the petrodollar:<\/p>\n

China, Russia and Iran are coordinating a new international monetary order that does not involve U.S. dollars. It has several parts, which together spell dollar doom. The first part is that China will buy oil from Russia and Iran in exchange for yuan. <\/p>\n

The yuan is not a major reserve currency, so it’s not an especially attractive asset for Russia or Iran to hold. China solves that problem by offering to convert yuan into gold on a spot basis on the Shanghai Gold Exchange\u2026<\/p>\n

This marks the beginning of the end of the petrodollar system that Henry Kissinger worked out with Saudi Arabia in 1974, after Nixon abandoned gold. <\/p>\n

But it’s not only China, Russia and Iran that are out to dethrone King Dollar.<\/p>\n

They’re joined by the rest of the \u201cBRICS\u201d nations \u2014 Brazil, India, South Africa.<\/p>\n

Together they represent 25% of global economic output.<\/p>\n

At last week’s annual BRICS summit in China, members announced full-throated support for China’s plan.<\/p>\n

The message, clear as gin: The dollar’s days of \u201cexorbitant privilege\u201d must end.<\/p>\n

And yesterday brought news that could further accelerate China’s de-dollarization plans\u2026<\/p>\n

Treasury Secretary Steve Mnuchin announced the U.S. would consider locking China out of the international \u2026read more<\/a> <\/p>\n

Source:: Daily Reckoning feed<\/a><\/p>\n

The post <\/a>America’s Weapons: \u201cThe Dollar and the Drone\u201d<\/a> appeared first on Junior Mining Analyst<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Brian Maher This post America’s Weapons: \u201cThe Dollar and the Drone\u201d appeared first on Daily Reckoning. It was said that \u201cthe guinea and the gallows\u201d were the true instruments of British imperial power. The guinea represented the coined wealth of Great Britain. The gallows represented its\u2026 constabulary zeal in policing restless natives. This is […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-552058","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/552058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=552058"}],"version-history":[{"count":0,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/552058\/revisions"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=552058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=552058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=552058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}