Home ‘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
Contents

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
GEAB
15 Jul 2021

Sexuality 21 – And Sex Became Art…

#demography #reproduction #society #world

The differentiation between sex and reproduction, characteristic of human beings, is not new. Indeed, if humans have learned to control their fertility, they have never been fully able to control [...]

GEAB
15 Jun 2021

España 2050 Strategy Paper – A broken promise

#anticipation #europe #governance #Spain

The Espana 2050 project, presented by the Sanchez government on the 20th of May, brings together, in the form of 9 challenges, 50 objectives and 200 proposals, a set of [...]

GEAB
15 Jun 2021

Global political scene 2021-2025: Welcome to the “tech-politics” era

#politics #west #world

Trump was the seal of the populists’ era born in the wake of the gigantic crises of the last decade: Putin, Erdogan, Trump, Bolsonaro, Johnson... More fear than harm in [...]