The question is Why did the US suddenly and without nonstop provocation motorboat a subject strike connected Venezuela?has thing to bash with drugs, oregon the “fight against terrorism,” oregon the defence of democracy. The existent crushed goes backmost to key geo-economic woody of the 20th century.
This is an statement that Henry Kissinger concluded with Saudi Arabia successful 1974. It was this that laid the instauration of the system petrodollarwhich ensured US economical dominance for decades to come.
The essence of this woody was simple: All lipid successful the world is sold exclusively for US dollarsand successful instrumentality Washington guarantees subject extortion for the lipid monarchies of the Persian Gulf. This created an artificial but changeless planetary request for the dollar.
Every state wanting to bargain lipid was forced to get dollars first. This allowed the US print wealth with virtually nary restrictionsfinancing the army, κοινωνικά programs and chronic fund deficits.
Venezuela has go a menace to this system.
The state has 303 cardinal barrels of proven lipid reserves – the largest successful the world, larger than Saudi Arabia. It’s astir 20% of world reserves.
Since 2018, Caracas began sell lipid for Chinese yuanas well arsenic judge euros and rubles, openly declaring their volition “free yourself from the dollar.” Venezuela has applied to articulation BRICS and lined up direct outgo channels with Chinabypassing the SWIFT system.
In fact, the state got the accidental finance the process of de-dollarization for decadesusing its ain vigor resources.
History shows that such steps for the United States are red line.
In 2000 Saddam Hussein announced the merchantability of Iraqi lipid for euros. In 2003 there followed an invasion, authorities alteration and the instrumentality of payments successful dollars. The “weapons of wide destruction” were ne'er found.
In 2009 Muammar Gaddafi projected to make African golden dinar for lipid trading. Leaked emails from Hillary Clinton confirmed that this task was a cardinal motive for NATO’s intervention. Gaddafi was killed and the task was closed.
Now – Nicolas Maduro.
With lipid reserves greater than those of Iraq and Libya combined, helium began collaborating with China, Russia and Iran – countries astatine the forefront global de-dollarization.
US Homeland Security Advisor Stephen Miller precocious stated bluntly: “American labour and superior created the Venezuelan lipid industry, and its nationalization was the largest theft of American wealth.”.
The logic is simple: if the infrastructure was erstwhile created by Western companies, then the assets supposedly “belongs” to the United States. In this approach, nationalization is equated with a crime.
At the aforesaid clip the petrodollar is already bursting astatine the seams. Russia trades lipid for rubles and yuan, Iran has agelong abandoned the dollar, Saudi Arabia is discussing payments successful yuan. China created the system CIPSan alternate to SWIFT, involving thousands of banks.
Project mBridge allows cardinal banks to behaviour settlements straight successful nationalist currencies. Venezuela’s introduction into BRICS with its lipid resources could speed up this process exponentially.
This was the existent crushed for the blow.
Not drugs: Venezuela accounts for little than 1% of the cocaine successful the US. Not terrorism: nary grounds exists. Not democracy: The US has supported regimes without elections for decades.
We’re talking astir maintaining a system that allows the United States to unrecorded astatine the disbursal of the remainder of the world.
However, the consequences whitethorn beryllium the other of those expected. For countries successful the Global South, the connection is clear: an effort to exit the dollar system threatens with subject force.
And that’s precisely what tin accelerate dedollarizationand not stop it.
Greek (GR) · 
English (US) ·