King Dollar: Empire, 20 Years On

[ish mailian]

U sustainable energy expert says the coronavirus outbreak may make
“dirty fuels” more attractive in the short term


https://www.bu.edu/articles/2020/will-the-covid-19-pandemic-slow-the-global-shift-to-renewable-energy/

On Tue, Apr 7, 2020 at 2:03 PM ish mailian <ishmailian at gmail.com> wrote:
>
> The short answer to the question about why, the most likely scenario
> btw, a gradual shift to renewable energy from fossil fuels will not
> end king dollar hegemony is evident in what is transpiring right now;
> the dollar's strength is owed primarily to the strength of the united
> states economy, its dynamic  domestic strength, especially relative to
> other economies, like the European economy, and, specifically, to the
> strength of the usa ability to, through the **independent** central
> bank, the Fed, support the credit system. The Fed and the dollar are
> still considered the most reliable combination in the world. Other
> central banks lack either the liquidity and size or the confidence (as
> is the case in Europe) of the world to be held in reserve at the level
> of dollars.
>
> The dollar, as trade and transaction currency,  simply has no real
> competition and a crisis like this one makes this evident.
>
> One of the reasons, though a diminishing reason for this, is that
> dollar is used for oil transactions--Petro-dollar.
> But oil is not all that important anymore and, as the Shale Saudi
> Russia war/deal makes clear, the dollar's strength and dominance is
> not influenced all that much, as it was decades ago, by oil.
>
> That said, oil is still one key to dollar dependence and  if the world
> unplugged from oil and plugged into renewable energies quickly, very
> quickly, it could seriously damage the dollar's dominance.
>
> The power of the Fed is contrasted with the weakness of  Washington
> and the States nicely in this essay.
> The current crisis expedited reforms that many on the progressive side
> have had to fight for tooth and nail, but the weakness of the systems
> in washngton ans at the state level to get money out is frustrating
> reform.
>
>
>
> Our Political System Is Hostile to Real Reform
>
> The stimulus bill doesn’t come anywhere near to meeting the challenge
> that we face.
>
> https://www.dissentmagazine.org/online_articles/our-political-system-is-hostile-to-real-reform
>
> On Tue, Apr 7, 2020 at 9:48 AM ish mailian <ishmailian at gmail.com> wrote:
> >
> > BTW,
> >
> > the greatest threat to the dollar is green technology.
> >
> > but a slow shift to green tech won't do it.
> > The US will continue to have the dollar, sometimes its greatest
> > weapon, even when Petro-dollars are no longer flowing like oil.
> >
> > On Tue, Apr 7, 2020 at 9:44 AM ish mailian <ishmailian at gmail.com> wrote:
> > >
> > > The Dollar is King!
> > >
> > >
> > > Like so many others who have describing the decline of the United
> > > States for decades, though it still produces 25% of world GDP,  and of
> > > the dollar, here are Hardt and Negri, so wrong on the greenback:
> > >
> > > Second, the monarchy of the dollar, the financial and monetary
> > > hegemony of the us, which appeared solid twenty years ago, has been
> > > progressively weakened
> > >
> > > https://newleftreview.org/issues/II120/articles/empire-twenty-years-on