by Tom Luongo, Tom Luongo:
The older I get the more time I spend asking the question, “Why does someone want me to know this?” Our media is so compromised that questioning the editorial bias of every issue is a full time job.
And I know that it is done on purpose to distract us from the real issues in some instances while advancing an agenda in others.
In 2023, the topic of de-dollarization has been all the rage. It’s been a non-stop barrage of hype and hyperbole. The din of de-dollarization talk became so loud in the lead up to the recent BRICS Summit that it drowned out what was really on the agenda for those few days.
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This talk came from all sides, from the BRICS leaders themselves as well as the western press dominated by both British and Davos interests.
People fell all over themselves talking up the “BRICS gold-backed currency” trying to edge each other out in being ahead of the curve on this issue. After a while it became another moment to ask who benefits from all of this amplification?
I’ve been writing about these things for years, knowing that those who control the production of commodities would ultimately get tired of the wealth extraction schemes operated by the financialization masters in New York, London, and Zurich.
It was only a matter of time before they would make their move.
And I can tell you for real that I’ve never been amplified on any subject like this until such time as people in Moscow, Brussels and Beijing wanted this commentary out there.
Don’t take this for grousing, because it isn’t. It’s just an observation born of years of experience. I’ve come to understand what a lack of amplification means; that this is the story no one wants to be told.
So, this begs the question, why do they want it told now?
In many ways this is how I know I’m usually on the right track with respect to a particular issue. It’s my forever internalizing the baseball great Wee Willy Keeler who famously said that baseball is an easy game, “Just hit ’em where they ain’t.”
So, a lot of important someones wanted us to know about de-dollarization this year. They had their reasons to promote this concept. And, as always, it has to do with influencing global capital flow while distracting the commentary from what was really on the agenda.
For Davos de-dollarization is just another attack vector on the United States. By playing up the problems the US has domestically as well as geopolitically they create uncertainty. Capital hates uncertainty.
Throw in a purposefully-belligerent and incompetent “Biden” administration and you have a perfect cocktail of uncertainty which keeps capital markets globally distrustful of both the near-term policy mixed with the long-term trends.
Conclusion? The US is FUBAR.
Russia is at war with the West, so, of course, Vladimir Putin will talk his book on de-dollarization. He is the point man on the BRICS being “anti-dollar.”
There’s only this one little problem with all of this: The US dollar itself and the lack of alternative infrastructure for ditching it. Despite all of the jawboning and, frankly, propaganda on this subject, the reality is far, far different.
While everyone is talking de-dollarization, the real currency losing it’s position in global trade is the euro. But no one is talking about de-eruoization. I guess it doesn’t roll off the tongue as well?
