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free floating (dollar) e os pobres (não) laboriosos

« global currency is rooted in military power »

we'broke

Hoje: o banco central declara uma pausa no apertar de corda no pescoço dos seus cidadãos 14 dez 2023 e fá-los sonhar com as migalhas que sobrem da mesada, os crescidos discutem orçamentos da união com uma rubrica militar cada vez mais central. Destacamos do espírito do momento subterfúgios de secretaria para contornar vetos (abandonar a sala para não participar na votação) aclamados como uma "a victory that motivates, inspires, and strengthens." 14 dez 2023 Nos States somar-se-ão contas semelhantes no balanço e temos deixa para concluir leituras dos primeiros 5000 anos da dívida do outro livro do David Graeber.

Três pontos. 1) Ponto primeiro: o autor enterra o mito de permutas de serviços & produtos e demonstra que muito antes de surgir a necessidade de se inventar qualquer moeda, o comércio dependia da troca de dívidas dentro das comunidades, que deviam – pun intended – tanto ou mais às suas implicações sociais que a mera equiparação de valores em causa. Ie, era considerado de mau tom pagar a dívida por igual, era preferível ou demais ou de menos de forma a fortalecer relações, às vezes era mesmo um insulto pagá-la de todo. O dinheiro surge posteriormente como cálculo impessoal que permite aos seus intervenientes conduzir os negócios livres de obrigações adicionais. Ou, como salienta o autor: entre pessoas "honradas" ou "de confiança" criavam-se relações de dívida, a estranhos, prostitutas e outros excluídos da sociedade pagava-se em dinheiro. 2) Ponto dois: nos exemplos históricos que se conhece o dinheiro vivo surge como imposição de impérios centrais para custear os seus exércitos: não se pode alimentar umas quantas hordas invasoras em guerra permanente e opressão constante com recurso à dívida social – particularmente se massacram as populações locais no processo. O estado exige então o pagamento de tributos exclusivamente em moeda, obrigando os seus contribuintes a converter dívidas em numerário móvel que pode ser pago às tropas para onde quer que essa vá. 3) Ponto três: paralelos modernos de histórias antigas com mashup dedicado à hegemonia do actual império, a relação da dívida com o seu complexo militar, e um negócio da China (aquele outro império quase transversal à História):

modern money is based on government debt, and governments borrow money in order to finance wars

Nixon floated the dollar in order to pay for the cost of war on cities and villages across Indochina [que] was causing such an enormous strain on the U.S. gold reserves. By floating the dollar, Nixon converted the U. S. currency into pure "fiat money" - mere pieces of paper, intrinsically worthless, that were treated as money only because the United States government insisted that it should be. In that case, one could well argue that U.S. military power was now the only thing backing up the currency.

The U.S. military, unlike any other, maintains a doctrine of global power projection: that it should have the ability, through roughly 8oo overseas military bases, to intervene with deadly force absolutely anywhere on the planet. No other government has ever had anything remotely like this sort of capability. In fact, a case could well be made that it is this very power that holds the entire world monetary system, organized around the dollar, together.

One apparently paradoxical result was that these bank-created dollars themselves replaced gold as the world 's reserve currency: that is, as the ultimate store of value in the world, yielding the United States enormous economic advantages.
in "Debt: The First 5,000 Years" 2011

it's never clear whether the money siphoned from Asia to support the U.S. war machine is better seen as "loans" or as "tribute"

Because of United States trade deficits, huge numbers of dollars circulate outside the country; and foreign central banks have little they can do with these dollars except to use them to buy U.S. treasury bonds. These bonds are, like all bonds, supposed to be loans that will eventually mature and be repaid, but they never really do: to the extent that these Treasury IOUs are being built into the world's monetary base they will not have to be repaid, but are to be rolled over indefinitely. This feature is the essence of America's free financial ride, a tax imposed at the entire globe expense. At the same time, U.S. policy was to insist that those countries relying on U . S . treasury bonds as their reserve currency behaved in exactly the opposite way as they did: observing tight money policies and scrupulously repaying their debts.

The most significant overseas buyers of U.S. treasury bonds have tended to be banks in countries that were effectively under U.S. military occupation. In more recent decades the focus has shifted to Asia, particularly the central banks of countries like Japan, Taiwan, and South Korea-again, all U.S. military protectorates. What's more, the global status of the dollar is maintained in large part by the fact that it is, again since 1971 , the only currency used to buy and sell petroleum, with any attempt by OPEC countries to begin trading in any currency stubbornly resisted by OPEC members Saudi Arabia and Kuwait - also U. S. military protectorates.
in "Debt: The First 5,000 Years" 2011

Still, the sudden advent of China as a major holder of U.S. treasury bonds has clearly altered the dynamic. Some might question why, if these really are tribute payments, the United States' major rival would be buying treasury bonds to begin with. From a longer-term perspective, China's behavior isn't puzzling at all. In fact it's quite true to form. The unique thing about the Chinese empire is that it has, since the Han dynasty at least, adopted a peculiar sort of tribute system whereby, in exchange for recognition of the Chinese emperor as world-sovereign, they have been willing to shower their client states with gifts far greater than they receive in return. The technique seems to have been developed almost as a kind of trick when dealing with the "northern barbarians" of the steppes, who always threatened Chinese frontiers : a way to overwhelm them with luxuries that they would become complacent, effeminate, and unwarlike. There is every reason to believe that, from China's point of view, this is the first stage of a very long process of reducing the United States to something like a traditional Chinese client state.
in "Debt: The First 5,000 Years" 2011

Abrimos o jornal para ler nas actualidades milhares de anos às voltas. Senhores...
Terminamos intercedendo por uma nova ordem económica:

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