The Dollar's Dominance: A Self-Inflicted Wound, Not a Termite Feasts
📰 THE STORY: The Financial Times suggests that unseen 'termites' are 'slowly feasting away' at the foundations of the dollar’s dominance, implying a natural, almost inevitable decline driven by various macroeconomic factors, without explicitly naming US foreign policy as a primary catalyst. 🔍 WHAT THEY'RE NOT TELLING YOU: Historical Context: Since the 1970s, the US has increasingly used the
dollar's international reserve status as a weapon, especially through sanctions. For example, the 1979 freezing of Iranian assets, the 2002 attempted coup against Chávez followed by crippling sanctions on Venezuela, or the 2011 seizure of Libyan assets after a NATO intervention that destabilized the entire region. The 2019 lithium coup in Bolivia was driven by the desire to control resources and
maintain dollar hegemony. Most recently, the 2022 freezing of Russia's $300 billion in foreign reserves sent shockwaves through central banks globally, demonstrating that no nation's dollar holdings are truly safe from unilateral US dictate. Double Standard: Western media routinely frames nations seeking alternatives to the dollar as 'authoritarian' or 'anti-Western,' while ignoring that these
nations are simply acting to protect their economies from weaponized financial tools. When the US uses its currency to impose its will, it's 'national security.' When other nations seek financial independence, it's 'destabilizing the global order.' The narrative completely omits the billions spent by Western powers like the US and the UK on funding illegal interventions and sponsoring