08 January 2026

Obituary

It is just possible, though not welcome, that Führer Trump and his brown shirts will turn the USofA not great again, but a second or third rate country.

Understanding how that could happen depends on knowing how it is that the USofA became the biggest gorilla on Mother Earth. And, no, it isn't because of some assumed superior racial/ethnic identity.

It's because the USofA was the only developed country that exited WWII nearly entirely unscathed. These essays have mentioned Bretton Woods some times in the past.
The new economic system required an accepted vehicle for investment, trade, and payments. Unlike national economies, however, the international economy lacks a central government that can issue currency and manage its use. In the past this problem had been solved through the gold standard, but the architects of Bretton Woods did not consider this option feasible for the postwar political economy. Instead, they set up a system of fixed exchange rates managed by a series of newly created international institutions using the U.S. dollar (which was a gold standard currency for central banks) as a reserve currency.
If you read the whole page, you'll find that Bretton Woods agreement wasn't cast in stone, and changes have happened over the years. What remains the same, so far, is the Uncle Sam's Buck is still the international reserve currency. Trust me on this: that status is the ultimate global power. Nucular bombs aren't. Reserve currency is.

In 1973, OPEC decided it had had enough, and threw a bomb into the clubhouse. Still, Uncle Sam's Buck survived.

So: you'll know that the USofA is Just Another Country when the rest of the countries no longer recognize Uncle Sam's Buck as the international reserve currency. We'll be just like Zimbabwe.

There still must be some commonly accepted currency, after Uncle Sam's Buck leaves the stage. Might be the Euro, might be the Renminbi. In any case, it won't be Uncle Sam's Buck. With Führer Trump's and Miller's increasing bellicose actions, it won't take long for the Rest of the World to say Adios, Amigo to Uncle Sam. Go fuck yourself Sam.

The US Buck dies. RIP.

No comments: