From 1600 to the 1930s, the most profitable “capitalist” corporation in the West was: Military Pvt. Ltd. The Western nations were using their military to conquer colonies, plunder societies of their natural and manmade resources, capture millions of slaves, and gain monopolistic control over trade routes—the result of this activity was windfall revenues that was several times the amount that they were spending on their military.
Things changed after the Second World War which led to a new world order in which colonization was impossible. Since the 1950s, Britain and America have been making efforts to fund their military by capturing the oil resources of the Middle East. But after the formation of OPEC in 1960, the era of cheap oil was gone, and after the 1979 Islamic revolution in Iran, America and Britain lost their influence in the Middle East.
The dollar’s status as a global reserve currency was making it easy for America to meet its military expenses by raising new capital from other countries at an extremely low cost. But now the dollar is losing its reserve currency status. Why should other nations keep billions of dollars in reserve when America is facing high inflation and the value of its currency is declining?
The real cause of the global economic crisis is that now the Western nations have to pay for their military from their own resources—by taxing their people and businesses; by selling their natural resources. Their military expenses—especially that of America and Britain—are too high. The economy of all Western states will be wiped out in a decade if domestic revenues are the only resource by which they have to fund their military.
The West faces the Devil’s alternative: If they do not cut down their military expenses, their economy will collapse; if they cut down their military expenses, they will face geopolitical chaos.
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