Tuesday, December 2, 2008

The Cost of Hegemony Is Beyond Reach

by Paul Craig Roberts

".....For decades Washington has prevailed because the U.S. dollar is the reserve currency. It is the world's money. This advantage allows Washington to purchase almost every other government. There are governments all over the world, from Europe to Egypt, from Ukraine to South Korea to Japan, that are owned by Washington. When Washington speaks of spreading freedom and democracy, Washington means it has purchased more governments to do its will.

These purchased governments do not represent their people. They represent American hegemony.

Now that the Great Hegemon is bankrupt and its economy is collapsing, thanks to unbridled greed, American influence is waning. The U.S. dollar cannot survive the massive red ink that the U.S. generates.

When the dollar collapses, the image of a strutting Washington as "the world's only superpower" will evaporate. The evil that is the American government will find itself at war with its own people and those of the rest of the world."

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