Therehas never been a worse time for Europe than now. Its Eurozone economies are almost bankrupt. And this time-bomb is taking place after decades of loading the Eurozone with flawed welfare benefits, guaranteeing aristocratic lifestyles to Europeans. Like Europeans, Americans too lived on borrowed pricey social benefits.But the difference between the two is that Washington has no difficulty externalising the heavy burden of its citizens aristocracythanks to de facto power of the dollarto the rest of the world. Unfortunately, since Brussels does not enjoy the same de facto power, whats happening today in Europe shouldnt be seen as an accident.Making matters worse is the ongoing euro/dollar supremacy cold war, a war Washington believes is caused by Germany and France, who easily forgot that the master is still the master even with the US/Russian Cold War over. In short, what is happening is the consequence of organising a euro coup against the omnipotent dollar, and Washington is clear these old Europeans should be taught a big lesson.Little wonder the ongoing economic mess in Europe is being openly celebrated in America. Not by ordinary citizens but by respected Washington insiders like the former Federal Reserve Chairman, Alan Greenspan, who recently called euro the wildest dream.And as the long beneficiary of the Eurodollar, London is so jubilating, that the Prime Minister, David Cameron, is now a frequent visitor to Brussels simply to watch how the euro ends. So, too, is Beijing. But, whats it in there for China to watch'That the Chinese will eventually agree to rescue the drowning Eurozone economy shouldnt be in doubt. Not even the question why lending to the Eurozone that could hardly repay, should arise. Of course, the Chinese picking the bills already know these folks living above their means can hardly have enough to repay the debts.So, why is China still ready to pick the toxic Eurobond anyway' Skillful Beijing knows that as toxic as the Eurobond looks, investing in euro is not only a goldmine, it fully knows how that will quickly reduce the power of the dollar, which, strategically speaking, has the enormous benefit of handing yuan, dollars de facto power. Based on all these calculations, its understandable why Beijing couldnt resist bailing out Europe. Or, what else would have made Beijing willingly risk its foreign reserves built on the sweat of hard working Chinese people'Yes, the builders of the Chinese Century Project are fully aware that whats going on in the Eurozone is not about finding a lasting solution to the problem but simply slightly postponing the doomsday. Going by historic events, they understand Washingtons Marshall Plan was offered to Europe in 1947 not as benevolence but as a means of making Post-War Europe to become Americas economic and military appendage.After all, if Americas Lend-Lease aid of $31bn offered Britain during the war, and abruptly withdrawn when most needed, causing Britains financial ruins, brought its Empires collapse in 1945, why shouldnt injecting a few hundreds of billions of Chinas over $3.29tn be used to force Europeans to join China in the impending yuan/dollars supremacy battle'The strategic benefits of this single action cant be more obvious. First, buying toxic Eurobond will keep Chinese exports to Europe uninterrupted. Second, huge debt means China will be calling the shot in Europe, including demanding that Brussels joins Beijing in the fight to replace the dollar with yuan, the worlds de facto reserve currency.That Pax Americana will crumble shouldnt be in doubt. Just the same way that would mean the ceasing of the de facto power of the dollar. If that happens, petrodollar power and the international trade exclusivity of the dollar will go too. To go also is the unlimited military spending exporting US inflation to the rest of the world since 1945.And above all, shouldnt Americas vast vassal states scattered all over the world disappear along with its army of vassal elite protges, men and women who have depended on Washingtons good grace' With these tsunamis, will submerged great nations like Nigeria begin ascending' Enwegbara, an economic and business analyst, wrote in from Lord Lugard Street Asokoro, Abuja. He can be reached at: basil_enwegbara@yahoo.com or 07038501586
Click here to read full news..
