At Strategic Culture, Alastair Crooke explains the actions of the Federal Reserve as intended to protect what he refers to as the “dollar syndicate.” He writes:
At one level, the U.S. Fed is playing a ‘global game’. It is raising interest rates for many reasons. Here, though, it is to protect the ‘dollar privilege’ of being able to swap money which it prints out of thin air, for real labour and real commodities worldwide. This ‘reserve currency’ privilege has been the underpinning to the U.S.’ high standard of living (much higher than it would otherwise be). That’s an enormous benefit, and the Fed is going to protect this benefit.
To do that, as many states as possible need to be in the dollar ‘channel’ and trade in dollars. And to place their savings with U.S. Treasuries. The Fed is now doing everything it can to collapse the market share of the euro and thus to move euros and euro-dollars into the dollar syndicate. The U.S. will threaten Saudi, Gulf States and Turkey to prevent them leaving the channel.
This is the ‘war’ vs Russia and China’s syphoning away a large part of the globe out of the dollar syndicate, and into a non-dollar sphere. Non-compliance with membership of the dollar syndicate is met with various tools, from sanctions, freezing of assets and tariffs, to regime change.
If the Fed doesn’t protect the ‘dollar privilege’, they run the risk of everybody moving out of the channel. The Eurasia bloc are working to move out of the dollar channel; to create economic resiliency and trade outside the channel. What the Fed is trying to do is to stop this.
Read more here.
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