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The Rise of the 'Petro-yuan' and the Slow Erosion of Dollar Hegemony For seventy years, one of the critical foundations of American power has been the dollar’s standing as the world’s most important currency. For the last forty years, a pillar of dollar primacy has been the greenback’s dominant role in international energy markets. Today, China is leveraging its rise as an economic power, and as the most important incremental market for hydrocarbon exporters in the Persian Gulf and the former Soviet Union to circumscribe dollar dominance in global energy—with potentially profound ramifications for America’s strategic position.

31 July 2014read on...

New Post
MEMORANDUM FOR: The President

FROM: Veteran Intelligence Professionals for Sanity (VIPS)

SUBJECT: Intelligence on Shoot-Down of Malaysian Plane

31 July 2014read on...

Stop! Thief! Stop! — The Looting of Ukraine
Kiev’s hastily assembled, post-coup coalitions couldn’t hold, and Ukrainian PM Arseniy Yatsenyuk threw in the towel last Thursday. On his way out, news stories said, the PM expressed his “disappointment with Ukrainian parliament’s decision to reject a bill that allows the government to hand over up to 49 percent of the country’s gas transport system to investors from the European Union and the United States.”

30 July 2014read on...

On Dominoes, WMDs And Putin’s 'Aggression': Imperial Washington Is Intoxicated By Another Big Lie
Imperial Washington is truly running amuck in its insensible confrontation with Vladimir Putin. The round of new sanctions is a counter-productive joke. Apparently, more of Vlad’s posse will be put on double probation, thereby reducing demand for Harry Macklowe’s swell new $60 million apartment units on Park Avenue. Likewise, American exporters of high tech oilfield equipment will be shot in the foot with an embargo; and debt-saturated Russian state companies will be denied the opportunity to bury themselves even deeper in dollar debt by borrowing on the New York bond market. Some real wet noodles, these!

29 July 2014read on...

In Foreign Affairs, Not Doing Anything Is The Thing To Do
The heartbreaking violence in the Middle East, Ukraine, and elsewhere carries many messages, but here’s one Americans shouldn’t miss: The United States — no matter who the president is — cannot manage world conflict. The corollary is that when a president tries to manage it, things will usually get worse. Foresight is always defective, and tragic unintended consequences will prevail.

29 July 2014read on...

The Absurd, Bureaucratic Hell That Is the American Police State
Whether it’s the working mother arrested for letting her 9-year-old play unsupervised at a playground, the teenager forced to have his genitals photographed by police, the underage burglar sentenced to 23 years for shooting a retired police dog, or the 43-year-old man who died of a heart attack after being put in a chokehold by NYPD officers allegedly over the sale of untaxed cigarettes, the theater of the absurd that passes for life in the American police state grows more tragic and incomprehensible by the day.

28 July 2014read on...

End Torture, Shut Down the CIA!
Remember back in April, 2007, when then-CIA director George Tenet appeared on 60 Minutes, angrily telling the program host, “we don’t torture people”? Remember a few months later, in October, President George W. Bush saying, “this government does not torture people”? We knew then it was not true because we had already seen the photos of Iraqis tortured at Abu Ghraib prison four years earlier.

27 July 2014read on...

Israel's 155mm Cure For ‘Terrorism’ In 1956, Britain and France were convinced that Egypt’s charismatic nationalist leader, Gamal Abdel Nasser, was threatening what was left of their Mideast and African colonial empires. London branded Nasser, “Hitler on the Nile.”

27 July 2014read on...

Another 'Saigon': US Evacuates From Libya
One month ago today, President Obama was congratulating Libya on a "milestone" election -- even though the disintegration of the country after the 2011 US invasion was ongoing.

26 July 2014read on...

What Does the U.S. Support When It Supports Israel?
According to the Congressional Budget Office, “Israel is the largest cumulative recipient of U.S. foreign assistance since World War II. To date, the United States has provided Israel $121 billion (current, or non-inflation-adjusted, dollars) in bilateral assistance. Almost all U.S. bilateral aid to Israel is in the form of military assistance, although in the past Israel also received significant economic assistance.”

26 July 2014read on...

Featured Articles

The Real Meaning of President Obama’s National Security Speeches


This past Thursday and Friday, President Obama delivered two speeches designed to outline his new thinking on national security and counter-terrorism. While much was made in the media of the president’s statements at the National Defense University and the US Naval Academy suggesting that the most active phase of US military action overseas was coming to an end, this “new” approach is but the same old policy wrapped in new packaging. In these addresses, the president panders to the progressives, while continually expanding and solidifying the "enabling act” principle.

The president will continue and even expand drone attacks overseas because they are “less deadly” than ground invasions. He promises to be more careful in the future.

He is entertaining the introduction of “kill courts” which will meet in secret to decide who is to be executed without trial or charge. He promises these will have sufficient oversight.

He will seek a new and updated Authorization for the Use of Military Force to expand his legal authority to wage war wherever and whenever he wants. He promises it will one day be repealed.

He will continue to indefinitely detain at Guantanamo individuals who have been neither charged nor convicted of any crime, and who cannot even be tried because they were tortured and thus the evidence is tainted. He promises to “commit to a process of closing GTMO.”

The speech speaks of more war and more killing and more interventionism all masked in the language of withdrawal.

The president warns of the threats of the new al-Qaeda affiliates that have sprung up in places like Iraq without explaining that it was the US invasion of Iraq that opened the door to their entry in the first place. There was no al-Qaeda in Iraq before the US overthrow of Saddam Hussein, just as there was little extremism in Libya before the US attack on that country in 2011.

The president claims that “unrest in the Arab world has also allowed extremists to gain a foothold in countries like Libya and Syria.” However, it was the US-led attack on Libya that resulted in extremists gaining power there, with many fighters afterward spreading unrest and destruction by joining the wars against the Syrian and Malian regimes. The extremists brought to de facto power in places like Benghazi were responsible for the murder of the US ambassador, yet the president says nothing about that unintended consequence of his interventionist policies.

He calls for even more interventionism in the future, but he promises that it will be a different kind of interventionism. He wants the US to shape democratic transitions in Tunisia, Egypt, and Libya while actively supporting those seeking to overthrow the government in Syria.

He wants to take nation-building to a whole new level, urging that the US “help countries modernize economies, upgrade education, and encourage entrepreneurship.” He promises to battle extremism overseas by “training security forces in Libya, maintaining peace agreements between Israel and its neighbors, feeding the hungry in Yemen, building schools in Pakistan, and creating reservoirs of goodwill that marginalize extremists.”

What the president does not seem to understand is that we do not have the money to build schools, upgrade education, modernize economies, and encourage entrepreneurship overseas at a time when our national debt is $16 trillion. And besides, isn’t it a deeply flawed idea that the US government can achieve all of these remarkable results overseas when we know what a disaster these big government undertakings have produced at home? What we reject at home as Soviet-style central planning is fully embraced as effective foreign policy overseas. Should it really be the US government’s role to “modernize economies” or “encourage entrepreneurs” anywhere? Those are activities best left to the private sector, whether here at home or in far off lands.

President Obama’s speech is not at all what it seems. It is a call for more empire and more power to the executive branch. The president promises that “this war, like all wars, must end.” Unfortunately the war on the American taxpayer never seems to end. But end it will, as we are running out of money.


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