By :presstv.com
The US Empire will collapse if world countries join forces and destroy the hegemony of the United States’ dollar, an analyst writes in a column for the Press TV website.
“If more nations join Iran, Russia and China, and opt out of the US dollar protection racket, then this evil “Empire” will surely collapse along with its armed wing,” Yuram Abdullah Weiler wrote.
“Dollar dominance allows the obscenely profligate spending to maintain the US military’s global presence, which in turn insures the continuing hegemony of the dollar,” the analyst said.
He said the main issue is to find a way to “put an end to this stranglehold on the global financial system” by the international banking cartel (IBC) and its “armed wing.”
“Hence, demand for US dollars and government and agency bonds continues even as [dollar] value falls,” wrote Weiler.
He said the US dollar is facing “an increasing number of challenges” as some oil producers have ditched the greenback in their transactions.
Moreover, said Weiler, Russia and China have both “expressed their distaste for the dollar status quo and US threats of sanctions or military force.”
In 2012, China announced that any country willing to “buy, sell, or trade crude oil” can use the Chinese currency, not the American dollar.
Following suit, Russia announced that it would sell China all the crude oil it wanted but it would not accept US dollars.
Weiler said Iran, which sits atop the world’s second-largest gas reserves and third-largest oil reserves, “retains the potential to strike a major blow against US dollar hegemony.”
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SOURCE : presstv.com