Agree TELL cheap here .. . US foreign policy is the catalyst. ..There’s a growing anti-Americanism, not only in Asia, Africa, and the global South, but in Europe.
Well, the second reason that Nye cited was domestic energy supplies. America controls oil. Not only does it produce its own oil, but it’s just been able to block the rest of the world from importing Russian oil, and it’s been able to blow up Nord Stream. And now it’s pushing Israel to essentially act as another Ukraine. It’s pushing Israel to incite Lebanon and Iran into a provocation, into a military response to the Israeli attacks that is going to enable Israel to do what a Senate majority leader, the Republican leader, has been pushing for, and what Biden is pushing for, and what the neocons have been pushing for for 20 years, war with Iran to grab the oil reserves of what were Iran, Syria, Iraq, and Libya.
If it can control the oil reserves of the Near East and be able to block off their energy exports to all the other countries, just as it’s been able to block Russia’s oil exports to Europe, then it can control the industrialization of other countries because industry basically runs on oil and gas. Industry is energy, and without energy, you’re not going to be able to have your own industrialization independently of the United States. So the U.S. foreign policy, as we’ve talked before, I think, in our last show, for 100 years, the United States has used oil as an attempt to control the world’s economy.
Well, the third point that Nye points out is the dollar-based financial system. Well, it’s amazing that he could say that in yesterday’s Financial Times when the whole world was trying to de-dollarize. You’re getting one speech after another, not only from Russia and from China, but from the global South countries. And even in the Near East, they’re saying now that America has grabbed Russia’s foreign exchange reserves, $300 billion, all of the money that we’ve saved in our domestic monetary reserves are subject to confiscation by the United States. And they’ve already told Saudi Arabia that if they do not keep their international reserves from oil exports in the form of United States stocks and bonds, that would be treated as an act of war. So here in the Near East, you’re having Saudi Arabia and Bahrain under increasing pressure to support the Arabs being attacked by Israel, and yet they’re afraid to act because the United States is holding their dollars hostage. Well, very quickly, you’re seeing other countries move out of dollars as quickly as they can.
And finally, the fifth argument that Nye points out for why America cannot lose is demo-graphic and technological leadership. But that’s the one fatal Achilles heel of the United States economy. Its hope, its idea of technological leadership is to get monopoly power over information technology, pharmaceuticals, and other areas that it can dominate for intellectual property through copyrighting and through essentially suing countries that will adopt the technology that’s developed in the United States.
