Sunday, December 13, 2015
The Empire Files - It Will Either Bankrupt Us, Kill Us or Both -- Let's Hope It Bankrupts Us First
An excerpt from:
...Vocal proponents of the American Empire talk about a moral imperative that requires us to sacrifice ourselves as we try to solve the problems of the world. If there was even a hint this effort was accomplishing something beneficial, it might be more difficult to argue against. But the evidence is crystal-clear that all our efforts only make things worse, both for those we go to teach about democracy and liberty and for the well-being of all Americans who are obligated to pay for this misplaced humanitarian experiment. We must admit that this 25-year war has failed. Nevertheless it’s difficult to argue against it when it requires that that we not endorse expanding our military operations to confront the ISIS killers. Arguments against pursuing a war to stop the violence, however, should appeal to common sense. Recognizing that our policies in the Middle East have significantly contributed to the popular support for radical Islam is crucial to dealing with ISIS. More sacrifices by the American people in this effort won’t work and should be avoided. If one understands what motivates radical Islam to strike out as it does, the solution would become more evident. Voluntary efforts by individuals to participate in the struggle should not be prohibited. If the solution is not more violence on our part, a consideration must be given to looking at the merits of a noninterventionist foreign policy which does not resort to the killing of hundreds of thousands of individuals who never participated in any aggression against United States — as our policies have done since the green light for empire was given.
How is this likely to end? The empire will not be ended legislatively or by the sudden embrace of common sense in directing our foreign policy. The course of interventionism overseas and assuming the role of world policeman will remain for the foreseeable future. Still the question remains, how long will that be since we can be certain that the end of the empire will come. Our military might and economic strength is now totally dependent on the confidence that the worldwide financial markets give to the value of the US dollar. In spite of all the reasons that the dollar will eventually be challenged as the world reserve currency, the competition, at present, by other currencies to replace it, is nil. Confidence can be related to objective facts such as how a country runs its fiscal affairs and monetary policy. Economic wealth and military strength also contribute artificial confidence to a currency. Perceptions and subjective reasons are much more difficult to define and anticipate. The day will come when the confidence in the dollar will be greatly diminished worldwide. Under those conditions the tremendous benefits that we in the United States have enjoyed as the issuer of the reserve currency will be reversed. It will become difficult if not impossible for us to afford huge budget deficits as well as very large current account deficits. National debt and foreign debt will serve as a limitation on how long the empire can last. Loss of confidence can come suddenly and overwhelmingly. Under those conditions we will no longer be able to afford our presence overseas nor will we be able to continue to export our inflation and debt to other nations. Then it will require that we pay for our extravagance, and market forces will require that we rein in our support for foreign, corporate, and domestic welfare spending. Hopefully this will not come for a long time, giving us a chance to educate more people as to its serious nature and give them insight into its precise cause. Nevertheless we live in a period of time when we should all consider exactly what is the best road to take to protect ourselves, not only our personal wealth but also to prepare to implement a system based on sound money, limited government, and personal liberty. This is a goal we can achieve. And when we do, America will enjoy greater freedom, more prosperity and a better chance for peace.