The US dollar has been the world's reserve currency for a hundred years now. The predominance of the US dollar has continued to grow over the decades. Richard Nixon's decision to end the convertibility of the U.S. dollar to gold in August 1971 further strengthened the dollar's dominance.
The dollar system gives an exorbitant privilege to America.
It is as if the rest of the world is paying for America's lifestyle. Well aware of this advantage, the presidents who have succeeded each other in the White House have done everything to preserve it. America needs the U.S. dollar to remain the world's reserve currency to continue to be the world's leading economic power.
More and more countries want to end the domination of the US dollar over the world
To maintain this dominance, the United States has used its military whenever necessary. It is no coincidence that it is often said that the US dollar is backed by the US military. It is simply a historical fact.
For several years now, the US dollar has been increasingly under attack around the world. Russia, for example, has decided to embark on a program to end its dependence on the US dollar. China is seeking to reduce its exposure to the U.S. dollar in every way possible while promoting a digital yuan that it dreams will end the hegemony of the U.S. dollar in the future.
More and more powers around the world are no longer willing to let America dictate the rules as it has done for decades. This weakens the dollar system and therefore America's future.
Seeing El Salvador make Bitcoin an official currency alongside the U.S. dollar in June 2021 was seen as further proof that the dollar system is cracking every day.
El Salvador has resisted warnings from the IMF and the World Bank
Many opponents of Bitcoin explain that El Salvador is a very small country, practically insignificant in their eyes, but for the United States, it would be dramatic if the choice made by President Nayib Bukele paid off. If El Salvador emerges as a winner from its adoption of Bitcoin in the coming months and years, it could give ideas to other countries around the world.
This is already happening in Central and South America. More and more politicians in these countries are calling for the same course as El Salvador.
The United States sent first the IMF and then the World Bank to warn El Salvador to back off. These two institutions that obey America's desiderata are simply afraid of becoming obsolete because of Bitcoin.
In reality, Bitcoin is already the World Bank. The only one that really matters because it belongs to the people, and works for the good of the people. Few understand this today, but more and more people will in the years to come.
The United States is now starting unconventional warfare against El Salvador
El Salvador being a sovereign country, President Nayib Bukele has decided to continue to move forward on the path his country has decided to follow: embracing the Bitcoin revolution to seize a unique opportunity that it never had with the dollar system.
For Washington, this is something obviously unacceptable.
So the US State Department has just shifted into high gear by deciding to enter into unconventional warfare with El Salvador. This will obviously be of economic nature for now. The goal is to make El Salvador bend by all means by making the country give up on its adoption of the Bitcoin revolution.
Presidential aides, top judges, and former presidents have just been placed by America on the list of individuals accused of corruption, obstruction of justice, and undermining democracy.
President Nayib Bukele has not yet been placed on the list, but all media outlets are making headlines about the announcement, with the picture of the president of El Salvador as the main focus. The goal is clear: to encourage the association of Bitcoin with corruption by the general public.
Will America go so far as to use its army to bring El Salvador to heel?
America's demolition enterprise will first aim to attack El Salvador via the economy and the banking system.
If El Salvador resists, which it must do for a better future for its people, the big question is how far America can go. After the bankers and the economic sanctions, we know very well that the next step for America is to use its weapon of last resort: its army.
American intervention in El Salvador to overthrow the current government and install a politician who is more likely to preserve American interests by abandoning the support of Bitcoin as an official currency seems to be unfortunately something quite possible.
We are obviously not there yet, but it is important to keep in mind that America will do anything to maintain the hegemony of the US dollar over the world. In history, the end of a currency's dominance over the world has always been accompanied by violent clashes.
Hopefully, the transition we will see over the next twenty years will be peaceful, but nothing is less certain.
Final Thoughts
In the meantime, Bitcoin continues to advance its revolution block by block, carrying the message of freedom for the people that are at the heart of its system. By buying Bitcoin, you are choosing to vote for a peaceful system whose values are the opposite of those of the dollar system.
This is something essential to keep in mind after you buy Bitcoin. Your purchase is far more important to the future of the world than you might think at first glance.
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