[Marxism] Charles Freeman worried about dollar hegemony

[Bob Hopson <bobhpsn@xxxxxxxxx>]

An interview with Charles Freeman, who's appointment to the National 
Intelligence Council was scuttled by the Israel lobby. I thought this was kind 
of interesting because of what this ruling-class figure has to say about dollar 
hegemony:

http://original.antiwar.com/lobe/2009/04/01/an-interview-with-charles-freeman/

IPS: What about longer-term strategic issues that may not be getting enough 
attention?

CF: One is very apposite today, and that is the future of the U.S. dollar as a 
reserve currency. At Bretton Woods, the dollar became the global reserve 
currency, backed by gold. A quarter century later, Nixon eliminated the gold 
backing for our currency.

Dollar hegemony has been central to our ability to basically go off the tracks 
fiscally and financially here. It has enabled us to avoid addressing all sorts 
of problems with which weâre now afflicted, and it has enabled us to avoid 
having financial discipline being imposed on us of the sort we have insisted be 
imposed on every other country under IMF (International Monetary Fund) 
guidelines.


      

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