Home Les bulletins GEAB GEAB 144 ‘Covidian’ Geopolitics – The American lockdown

GEAB 144

The monthly bulletin of LEAP (European Laboratory of Political Anticipation) - 15 Apr 2020

‘Covidian’ Geopolitics – The American lockdown

While the need for the digitalisation of the international monetary system described earlier is being reinforced by the financial crisis triggered by the pandemic, one finds in many articles on this topic the same fixed idea: allowing the world to bypass the American system of sanctions.[1] Indeed, these digital currency projects do not date back to the pandemic. They are primarily driven by the famous extra-territoriality of American law, made possible by the fact that world trade takes place almost exclusively in US dollars.[2] As an exit from the dollar system was not possible via the current monetary paradigm, only a change in this paradigm allows us to envisage this liberation. This is where the pandemic comes in – making the credibility of a system based on ‘trust’ (‘fiduciary’ currencies,[3] particularly since 1971 and the end of the Bretton Woods agreements) crumble and legitimising the implementation of a new world monetary system not based on the US fiat currency.

But the consequences for the United States will be colossal… especially in terms of its international role, of course. The end of the extra-territoriality of US law via the end of the supremacy of its currency may mean the end of US management of the world. This loss of power carries with it a considerable risk of seeing the United States move from the kind of ‘legal diplomacy’ linked to its currency to more muscled forms[4] of preserving its strategic interests – especially if these ‘strategic interests’ are not redefined to make them compatible with those of the rest of the planet.

Comments

To leave a comment sign up now
In summary

Political anticipation is LEAP’s method of “rationalisation of the future”. In fact, it is very close to the “historical method” in the sense that it is accessible to all and [...]

Since 2008, the GEAB has been talking about the ‘world after’. Now everyone is using this expression. It is therefore time to archive the ‘global systemic crisis of 2008-2020’. The [...]

 “In 2020, a global pandemic called COVID-19 brought the world economy to a virtual standstill for several months. To contain the epidemic, governments had to take radical measures to contain [...]

Many people will see their dreams of radical change disappointed. Yet there will certainly be change! You don't need to be an eminent guru to understand that the 8 trillion [...]

For the past few weeks, the planet has been in a state of emergency; people are locked into their homes and the economy is in a state of hibernation. As [...]

Is the US oil industry undergoing a significant shift in its relationship with its government, now accepting levels of influence or direct control that would have been unthinkable only a [...]

Businesses - Don't expect a normal recovery in September! A growing proportion of economic and service players are aware of this, but it is worth hammering home the fact that [...]

Related articles
Geta Grama-Moldovan
06 Aug 2020

What will post-COVID-19 Europe look like? (Mar 2020)

#anticipation #democracy #ECB #europe #governance #institutions

The prospects for social reorganisation that can be imagined from the current health crisis are enormous. We have, therefore, decided to focus on Europe, about which we are much more [...]

Geta Grama-Moldovan
06 Aug 2020

The new face of post-election Europe (May 2019)

#anticipation #democracy #ECB #europe #governance #institutions

There’s no need to wait for the results of the election to anticipate some of the major features of the new Europe that will be established after June 2019. Certainly, [...]

Geta Grama-Moldovan
06 Aug 2020

European elections / Europe 2040: ‘And now for something completely different’ (Mar 2019)

#anticipation #democracy #ECB #europe #governance #institutions

There is a lot about epilogues in this issue! In the case of the EU (a phase in the construction of Europe which came into being on 7 February 1992 [...]