The U.S. Dollar: America’s Weapon of Mass Destruction

Reuters photo

By

Sami Jamil Jadallah

Anyone who reads and knows America’s history knows well that no country in the world has been engaged in more wars than the U.S. The list of America’s wars can go on and on from its wars against Native Americans, to wars in Vietnam, Korea, Cambodia, Iraq, Afghanistan, Kuwait, Yemen, and of course the wars in Central America.

America is at peace with itself and the world for a few years, intervals within minor and major conflicts and wars, whether direct or proxy, nevertheless, we are a war nation, certainly not a peaceful nation as we like to think of ourselves.

The days of America’s CARE Package are gone, now the only things countries and citizens of the world see are bombs falling from the skies and their economies crashing.

However, America has not only used its nuclear bombs and every other bomb and rocket, but has waged economic wars against so many countries, with devastating effect no less than bombs and rockets.

The row with Turkey, which came out of the blue, is but another declared war, though of economic nature with America using its dollar as a weapon of mass destruction.

This is not the first time the U.S. has used its dollars and economic powers to wage wars on countries and nations that somehow don’t fit with its own thinking.

We should all remember the economic wars waged by America through Wall Street against the economies of Argentina, Brazil and Mexico in the 80’s when Wall Street colluded with political Washington to take those countries to ruins – and it did.

Then came the war against the Asian Tigers in 1997 when once again, Wall Street and big time hedge funds took those countries to economic ruins, looting the benefits of many years of hard work by those countries.

Now it is Turkey under assault, a NATO ally with one of the largest U.S. airbases in the region and a political and economic ally of the U.S. Not so sure what triggered all this?

For sure the detention of the US Christian Evangelical pastor Andrew Brunson is part of, but not the whole story. The footprints of Israel and its Arab Gulf allies certainly has to do with this.

Having failed in the attempted military coup of last year, it was time to bring change in Turkey by economic means, using the dollar as America’s weapon of choice against them. Unlike Arab allies in the region who came to power through military coups or 99% votes, Erdogan came to power with only 52% of the vote with more than 90% of Turkish voters voting in the election. By no means a dictator.

The U.S.’ use of unilateral “sanctions” without UNSC resolutions, and in violation of international trade agreements, is a wakeup call for Europe, Russia, China, India and other major economies to think of an alternative to the use of U.S. dollars in world trade.

The U.S. is able to effectively impose its unilateral sanctions because the dollar is the anchor of the world financial system, where every transaction in dollars, whether internationally or even locally, must go through the clearing house in NY. Even if you want to transfer dollars from one bank to another bank in say Amman, the transaction must first go through the clearing house in NYC.

Let us not forget that the U.S. through its corrupt financial institutions has also taken many countries, friends and allies included, to financial ruin. The collapse of the U.S. financial system in 2008 not only ruined the lives of tens of millions of Americans who lost their homes and pensions but major world financial institutions that bought worthless financial instruments from Wall Street ended up going broke.

Given all of these shortcomings I have no idea how anyone in the world can trust the U.S. political and financial systems to do right for America and the world. If we are not engaged in bombing some place in the world we are certainly at economic war in many places, with the U.S. Dollar used as America’s choice of Weapon of Mass Destruction to complement our bombs and missiles.

Sami Jamil Jadallah

Sami Jamil Jadallah is a US citizen, an immigrant from Palestine with over 35 years of international legal and business experience in the US, Middle East, Europe and North Africa. He is a Veteran of the US Army and holds a BA degree in political science and economics, a master degree in public and environmental affairs and doctor of jurisprudence from Indiana University.

Active in international and local affairs, Sami is a co-drafter of the Preamble for the Constitution of the One State for All of its People in Palestine and is active in veteran’s affairs in support of their re-integration in American society. He lectures and writes on a variety of topics including terrorism, social, economic and political issues related to the US and the Middle East.

Sami believes that education is the only way to transform the Middle East into a peaceful productive region and calls on all foreign troops to get out of the Middle East, leaving the people to shape their own destiny. Sami is in semi-retirement but fully engaged in voluntary work and engaged in the peace movement in the Middle East.