meth_dragon [none/use name]

  • 7 Posts
  • 309 Comments
Joined 2 years ago
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Cake day: August 6th, 2022

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  • the problem is that his talking points havent changed in the past 3 or 4 years but he deletes all his posts so you cant actually cross reference for yourself. in brief,

    1. us is only country that can print dollars
    2. dollarization bad
    3. (insert x event here) dollarizes, biden wins again


    you can go look up geikei’s recent good faith attempts to engage (you actually cant because the responses are deleted), either the talking points are side stepped or they get bogged down in a gish gallop rehash of of the above three points. i recall i made a conscious decision to reduce engagement with xhs right after he first started this bidenomics bit after federation and already he didn’t bother backing up his points with anything substantial (softballed him with some stuff about resource swapping and i got basically point 1 in essay format)

    in any case, i still don’t think his points, esp wrt the chinese strategy, hold any water as it’s been established that roosevelt’s vision for the marshall plan failed, and as hudson himself has pointed out, america’s postwar military adventurisms were a response to the failure of the marshall plan. for china to do something like this would be a fantastically nihilistic interpretation of history particularly as the chinese are at a similar point industrially to the postwar US (major exception being that the war of capitalist transition is only just beginning for us)



  • but they could just provide Gulf countries with ‘free’ Yuan to import from China with, given their large current surpluses

    gulf countries want to deleverage/diversify away from the dollar but are scared of american reprisal, this lets them do so in a plausibly deniable way while simultaneously providing china with extra means to take care of indebted countries’ dollar loans

    idk how much giving something away for free vs not comes into it, i think the chinese are mostly motivated to create new and stable markets for export and at the moment this seems to be enough for people. how this might backfire on them in the future like how the marshall plan failed for the americans is up for debate, but to just dump 3 trillion into paying back everyones imf loans seems like a somewhat rash and highly telegraphed move with unpredictable consequences







  • there will be no dedollarization before a physical conflict that completely exhausts the hegemon materially and politically, destroying the extant system and thus creating the need for a new one.

    money can be part of the base in times of peace, but when it comes to dethroning the hegemon, it is always superstructure. this is because antihegemonism necessarily entails physical violence, conditions under which currency returns to its idealist origins while real resources and their effective application to ends destructive or otherwise becomes ascendant.

    the fastest way out is the abolishment of this intolerable peace enforced by MAD through rapidly escalating nuclear brinksmanship. hard to believe that mao had it right all this time.



  • china doesn’t have any direct trump cards other than maybe physically retaking reddit island, but a provocation large enough to incite direct confrontation (and thus one that is also large enough to directly threaten hegemonic legitimacy) is probably enough to do in the empire. the geopolitical edging we are currently experiencing is a side effect of no one wanting to be the bad guy and flip the table, but it’s not like things are getting any less tense.

    Braudel suggests that the withdrawal of the Dutch from commerce around 1740 to become ‘the bankers of Europe’ was typical of a recurrent world systemic tendency. The same process was in evidence in Italy in the fifteenth century, and again around 1560, when the leading groups of the Genoese business diaspora gradually relinquished commerce to exercise for about seventy years… After the Dutch, the British replicated the tendency during and after the Great Depression of 1873-96, when ‘the fantastic venture of the industrial revolution’ created an overabundance of money capital. After the equally ‘fantastic venture’ of Fordism-Keynesianism, we may add, US capital since the 1970s has followed a similar trajectory.

    reading between the lines (80 years war, anglo-dutch wars, ww1&2), it’s pretty clear we’re being herded by historical forces towards some conflict of eschatological proportion in the near future. it’s not even in real doubt whether or not the us will lose the conflict, the real question seems to be one of how many of us will be left alive after the us system has been turned to ashes.

    on a lighter note, i actually think the current plan of ‘making israel die very very slowly’ is actually pretty good. if there is a direct intervention, the us is toast. if they don’t intervene, you get all kinds of domestic unrest in the ruling class to add to the working class dissatisfaction. basically a lose-lose proposition that is faster than supply chain restructuring and is only solved if the euros decide to fall on their swords and actually do something about russia, and even then is only a temp fix.