by Algora

All the major events in the last 20 years revolve around the Dollar. As long as the US can use its own domestic currency as the currency of the world, it practically never can go bankrupt. It can print more and more dollars, just simple paper, and continue to pay anything in the world with toilet paper.

Do they want to pay for the jihadists in Iraq, or Syria, etc. they go to the printing press. Do they want to buy a company in France, or Germany they print more dollars, etc.

That makes it very unpleasant for the US if someone declares that they will not accept dollars. Furthermore, using their gunboat diplomacy, they forced all countries of the would to trade among themselves only using dollars. If India wants to buy shoes from Brazil, they are forced to pay in US dollars for the shoes. They were/are not allowed to use Indian rupees, but American dollars. Otherwise: sanctions!!! – Same about the petrodollars. All the oil in the world can only be paid for in dollars!

So, when Saddam Hussein dared to defy the US and declared that Iraq would sell its oil for Euros or gold — we know what happened. When Libya’s Gaddafi said the same, to the shock of everyone, he was blown to pieces. These were lessons for the little guys. Kill a chicken to scare a monkey.

Now, the Russians were concerned for a long time that in this environment they cannot compete with an endless source of military financing by the U.S. They concluded that, in order to level the playing field, they need to dethrone the mighty dollar. They were working with the Chinese for the last 4-5 years on how to move their trade outside of the dollar. And that’s when the trouble started.

Smelling the consequences, the US moved to preempt that from becoming real. They moved against China, then Russia, then China, back and forth to intimidate one or the other. But no success.

Then, in utter despair, they (mis)calculated that they could trap Russia in an un-winnable quagmire in Ukraine. But their old tricks are not working.

So, when the US, in an unprecedented act of international piracy, seized Russia’s central bank accounts and Russian citizens’ private property in the West, that illegal act alone, finally, gave Russia the pretext to nullify all the financial obligations to the West and bring their own big gunboat diplomacy to the dispute. You want our oil? Pay in Rubles! You want our grain? Pay in Rubles!

Now, the Americans are dead in the water.

At this point the best outcome for the US would be a military takeover.