Re: the dollar reserve era; how gold emerges- quaintance and brodsky
Originally Posted by c1ue
The QB view would be more credible if historical review didn't show that the same talk existed in the waning stages of the British Empire.
Internal consumption of oil in oil producing nations, consumption in net exporters like Japan/China, whatever the cause - the present system is effectively an American version of the British Commonwealth trade system.
While certainly the US is still a large economy and will thus keep the US as a major player, simultaneously it is impossible that either the present American Protectorate economic system or the hyperpower status will remain.
As I think EJ/iTulip have noted before: ultimately the question is whether the suburban housewife with her SUV can economically outcompete for oil vs. 5 families in emerging economies who use scooters/public transportation.
In the past 5 decades, this was possible via the combination of the American Protectorate during Cold War plus a huge percentage of the world's population being walled off by ideology.
The world has changed, and present US policies are accelerating this change.
i agree. as i said in post#5, qb's assumptions about continued american military dominance of the middle east is "optimistic" [from the u.s. perspective].
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