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Indybay Feature

Year of the Dragon, and Goodbye to Dollar Dominance?

by DLi
There are a lot of media hype about the coming Year of the Dragon. Certainly, the rising power of a Chinese state capitalist regime that is beginning to challenge the fast-declining and financially-bankrupt USA "empire" is a major cause of concern to both the GOP NeoCON and 'Democrat' NeoLIB Imperialists, who have refused to acknowledge that their coveted Full Spectrum Dominance strategy is now imploding on all fronts. In both Iraq and the AfPak thaters, the once self-proclaimed "lone Superpower" has been humiliatingly shown to be little more than a paper tiger(altho, to paraphrase Chairman Mao, this Imperialist paper tiger still wields thousands of WMDs and has terroristically used them on hundreds of thousands of innocent civilians)...
But beneath the corporate media's radar screen, there is actually a more fundamental techtonic shift that may ultimately land a decisive blow to the underbelly of US Imperialism. Two months ago, China and Japan have agreed to stop using the American Greenback as the medium of exchange in bilateral trade. And just this year, both Russia and Brazil have also signed on to similar trade agreements with China. The brightest financial gurus around the Globe can clearly see that this the future trend of a "rising tide that will lift many boats," so how much longer will the Dollar remain the "reserve currency" of the World? Hence, 2012 may well be a decisive Year of Diversification and an end to the Dominance of the Dollar, with Uncle Sam's bankrupt economic model and system suffering thru a Year of Devastating financial Disaster, only to be followed by further Declines in 2013 and beyond. Smart money in Vegas would not bet against this distinct probability. Stay tuned.
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