How US has enslaved the world with her Petrodollar Former US grand strategist Zbignew Brzezinski said: “It is IMPERATIVE that no Eurasian challenger emerges capable of dominating Eurasia and thus of also challenging America”. Because the US has just 4% of the world's population, and it's isolated from the Eurasia continent which has 70% of the world’s population, or 87% with Africa included. Defensively, it's an advantage to the US, but economically, it's a handicap. That's why economically, Eurasia is a competitor to the US and the Euro is a threat to the dollar. How the US with an isolated 4% of world’s population stays a world hegemon? The dollar must stay as the world's reserve currency. This allows the size of the US economy to be highly scaled up, instead of being limited by the fundamentals. To be the world's reserve currency, the dollar must be circulated in the world. The US created a huge consumption-based economy and shifted manufacturing outside, so that dollars flow out of the US to manufacturers like China or Japan. To make products, China and Japan need energy from Saudi. So dollar is then circulated to Saudi mandated by the Petrol-dollar scheme. With the US stock and financial market much more lucrative than others, the dollars from Saudi are attracted back to the US. Money printed in the US to exchange for goods from outside ends up with the Wall Streets, where the rich gets richer. And that completes the cycle of circulation of the dollars. If China or Japan bring back all the dollars and exchange to their local currencies, it inflates the local currencies, making their exports expensive. So, China and Japan use some of the dollars to buy US debts (treasury bonds). That's why the US, a rich country, is in-debt to China which has just 1/5th of the US’ GDP per-capita. By holding US treasury bonds, China and Japan have to support the US dollar, for if the US dollar collapses, their hard earn money would become worthless. Since the US’ debt is in its own currency, it can simply print more dollar to pay the interests. While most other countries have to earn dollars to pay their debts. After President Obama announced the “Pivot to Asia” in 2011 to stop China's rise, in 2013 China responded with the Belt and Road Initiatives (BRI) and diversified some of the dollars into the BRI, hoping that after new economies are developed, China would have a wider trade market. With a huge population, if Asia and Africa develop rapidly, the share of the US’ economy shrinks, then the Euro could replace it as the world’s reserve currency. Then the US would no longer be able to print money out of nothing without a hyperinflation like Venezuela. And the size of the US economy has to fall back to the fundamentals, which is quite a lot smaller than the inflated economy. That's why no country in Eurasia is allowed to catch up with the US’ economy. When Japan was catching up fast on the US in late 1980s, they were knocked down to a 3-decade stagnancy by appreciating the Yen. And in the last 30 years, the US created wars and color revolutions in the Middle East, Central Asia and Africa to destabilise Eurasia-Africa. When the US prints lots of money, other countries’ foreign reserves in dollars shrink in value. Furthermore, to prevent exports to the US becoming expensive, these countries have to print money too, which devalues the savings of the people, and causing inflations in these countries. It's estimated that our savings devalue by 6~9% per year after the abolishment of the gold-backed Bretton Woods system, after which the US prints money based on just the creditability of the dollar. This allows the US to have a big military budget, and the big military, in return, protects the dollar. Ie. chicken give eggs, eggs give chicken relationship. For the record, the US had no mercy on threats to the dollar: * In 2000 Saddam Hussein said he would sell oil in Euros not Dollars. >> Saddam was hanged by the US. * In 2009 Gaddafi wanted to make Libya export oil in Gold Dinars, not in dollar or Euro. >> Gaddafi was killed by US-backed NTC. * Iran has been trading oil in currencies other than US dollars since 2011. >> Iran was being sanctioned by the US. * After being sanctioned in 2014, Putin started to trade in non-dollar. By 2019, Putin (1) completely ditched dollars in oil trades, (2) sold almost all the US treasury bonds, (3) is now the forerunner in de-dollarization. >>The US tried to topple Putin by supporting Alexei Navalny, demanded the termination of Nord Stream II, and now the Ukraine war to weaken Russia. * China (1) introduced the BRI in 2013 which builds infrastructures and speed up the integration of Eurasia-Africa, (2) used non-dollar in oil trades with Iran and Russia, (3) introduced the CIPS, an alternative to the SWIFT system which has been weaponized by the US to sanction others, (4) China's economy and high tech are catching up fast. >> The US has started a hybrid war against China: A trade war in 2018. Hong Kong color revolution in 2019. Tech war (Huawei ban, EUV banned from ASML). Got Australia into a trade war with China in 2020. Launched “Uyghur Genocide” & “Forced Labor” propagandas against Xinjiang, which is the hub of the BRI, to cut off the BRI. Sanctioned goods from Xinjiang to create joblessness and uprising against the gov. After Xinjiang was stabilized by China, the US orchestrated a coup in Jan 2022 in Kazakhstan, located right next to Xinjiang, to cut off the BRI. In Aug 2022, Pelosi visited Taiwan to provoke a civil war. If a country supports the dollar, it's being looted; if a country doesn’t support the dollar, the government is changed by the US. This is financial slavery. (From the comments of Zeis Siez KZbin account 12.12.2022)