South China Sea and the Spratly Islands
Source: ZeroHedge.com
In yesterday’s Global Updates (May 21, 2015), I noted that the US was beginning to escalate tensions with China. My commentary focused on the reasons for the recent escalation. Contrary to a simple “China is expansionist” argument, I argued it was far bigger and about global economic dominance. The facts are China is now a peer competitor to the US and has established a counter to the post-Bretton Woods financial order. China’s monetary challenges directly attack the US Dollar’s world reserve status and the hegemonic control of the IMF/World Bank. If the US dollar loses its status as the world’s reserve currency, it is game over as we know life in the US. This has set the stage within the White House for an elite power struggle since some in the new world order/globalist camp, to include President Obama, welcome this US downfall while others in the old world banking elite fear significant financial losses and strongly oppose China’s rise. In simple terms, some of the Western banking elite’s most powerful will lose massive sums of wealth and power from an ascension of China’s currency. As such, I fear based on historical precedence that to prevent financial loss, the bankers will again be key contributors behind the scenes to engineering a new world war. Read more
