The prophets prophesy falsely, and the priests bear rule by their means; and my people love [to have it] so: and what will ye do in the end ...?
Jeremiah 5:31 KJV
Vince Dhimos answered a question at Quora.
NOW [THAT] TRUMP HAS WITHDRAWN FUNDING FROM THE WHO, WILL CHINA NOW REPLACE THE US ON THE WORLD STAGE, AND THUS ATTRACT THE WORLD’S INVESTMENTS? WILL TRUMP BE THE FINAL NAIL IN AMERICA’S COFFIN?
Vince Dhimos, Editor-in-Chief at New Silk Strategies (2016-present)
Trump is a master of propaganda, ie, lying and deceiving his people.
The WHO funding is already approved by Congress so it’s not going anywhere. His aim is to threaten and bully WHO for not joining his racist anti-China campaign. As for the “nail in America’s coffin,” for Americans, an alarming percentage of whom believe implicitly in the unquestioned righteousness of their government, his is a silent, slow-working nail in Washington’s coffin that the Western press has kept hidden, and most importantly, his anti-China policies are all implemented on behalf of the so-called “Deep State” that he and his followers claim is working against him. (Sure, they want the Democrats to implement these same policies in a more subtle manner, but they’re glad he is doing it and getting the blame).
For example, Trump and his acolytes believe implicitly in US oil, but almost no one in the US non-financial press has happened to mention that US oil is mostly shale which is inherently unprofitable (see http://www.newsilkstrategies.com/economics-and-finance/september-27th-2019), and that therefore, dozens of shale companies have gone under — so that consequently each year, less money is being invested in this perilous venture. Thus the silent nail of shale is proceeding as before, and no intervention in the oil prices will save it. But the US feel-good press has us under the impression that the latest OPEC agreement has saved the day. Unfortunately, this new deal has done very little to disabuse news consumers of the implacable fact that the miserly concessions of the oil producers have hardly budged the oil prices. Experts writing for the financial pages that most grassroots readers ignore have said that the agreed-upon skimpy 10% cuts fall far short of providing a real solution, which would require cuts of at least 20%. This doesn’t bother the Trump cheerleaders because Trump’s goal is not to solve the price problem but simply to assuage the public and dupe investors into throwing more good money after bad. But unfortunately for Trump, investors read the financial pages.
Another nail, which is less silent for Westerners at large but completely ignored by most Americans, is the fact that Trump’s bullying of his allies is causing a huge backlash among them. The most egregious example of such bullying is the sanctions slapped on the Nord Stream 2 pipeline project, which Trump had hoped to kill with sanctions against all companies involved in laying the pipeline. (But remember that both Democrats and Republicans passed these sanctions).
The resourceful Trump devised the pretext that buying gas from the Russians would be a threat to European “energy security.” See how much he cares about his allies?
But the Europeans pointed out that his real goal was to force Europe to buy his way overpriced US LNG — which costs 40% more than Russian pipeline-delivered gas. The Europeans are not as easily duped as their American counterparts, many of whom believe in the sacred Exceptionality of the Exceptional Nation.
But Russia is a step ahead as usual and is sending its own pipeline-laying ship, the Akademik Chersky, to the job site. The job will get done but with a major delay costing Russia billions (Russia got its revenge by letting its agreement with OPEC to cut oil production expire and then engineering a new agreement that forced the US to make cuts of its own.)
The above-described blatant undermining of the allies’ trust is having immediate effects. Already, in order to skirt US sanctions, several key European nations have developed and implemented the INSTEX mechanism, designed to by-pass the Belgium-based but US-controlled SWIFT mechanism by which, until now, all international payments, obligatorily denominated in US dollars, were transferred internationally from bank to bank. Now, using INSTEX, Europe and Iran, for example, can transfer euros or other local currencies back and forth undetected — whereas SWIFT was obliged to report all transactions to Big Brother in Washington. Remember that the less the dollar is used in international trade settlements, the more the dollar’s value is eroded.
Trump’s brash statement that he is now in Syria to steal (he said “keep”) the Syrian oil was another nail in the coffin. The Arabs already mistrust the Exceptional Nation and will eventually dislodge the uninvited and unwanted invaders.
Another very important nail was the reckless murder of General Soleimani, an icon in the Middle East, beloved not only in his Iranian homeland but also by many Iraqis and generally by Shiite anti-terror fighters, who saw him as a key component in the fight against US bullying.
But the biggest silent nail is the novel coronavirus, which has made the USA its epicentre. In desperation, the administration is blaming China for his own slow response to the crisis, as well as the WHO, which has refused to become one of his acolytes in blaming China. In reality, withholding funding from the only organization that seeks international cooperation in solving the crisis is seen as an egregious mistake and affront by the international public. But back home, many people have not grasped the big picture.
The Trump-controlled US is obviously trying to build a case to take China to the ICJ and sue them for trillions. Failing this, as it probably will, it is my guess that Trump will try to seize Chinese assets in the form of its over $1 trillion in US Treasury reserves.
The slandering of China is a desperate move on the part of the US (not just the Republicans) aimed at finding a quick fix to buoy up an economy based on pure debt and cheap tricks in hopes of simply confiscating Chinese assets built up by real work in a real economy.
If I were Xi I would immediately ditch all US Treasury holdings and keep the reserves in gold.
But regardless of what the US wrecking ball does, China will emerge with its real economy bruised but still strong and Washington will be left with its old debt-based economy in which no one will invest any longer and which can no longer be credibly propped up by the printing press.
China will continue to attract investments, more than ever before.