Category Archives: Asia

FRED REED: Ukraine War: Brought About By America; Serves American Hegemony

Asia, China, Crime, Foreign Policy, FRED REED, Race, Russia, War

America has been pushing NATO … ever closer to Russian borders in what … is an obvious program of military encirclement. Also, Victoria Nuland looks like a fireplug with leprosy

BY FRED REED

Everybody and his goat are talking about the Ukraine. Why not me? You might ask, But Fred, what do you know about it? To which I would respond, Look, this is journalism. You don’t need to know anything, just wing it, preferably using words you can spell. Admittedly this is more of a limitation than it used to be. Anyway, here goes:

Why did Russia invade the Ukraine? Contrary to American media, the invasion was not unprovoked.

Since the collapse of the Soviet Union in 1991, America has been pushing NATO, which is a US sepoy operation, ever closer to Russian borders in what, to anyone who took fifth-grade geography, is an obvious program of military encirclement. Of the five countries other than Russia littoral to the Black Sea, three, Turkey, Romania, and Bulgaria, are now in NATO. America has been moving toward bringing in the Ukraine and Georgia. After Georgia would have come Azerbaijan, putting American forces on the Caspian with access to Iran and Kazakhstan. This is calculated aggression over the long term, obvious to the—what? Ten percent? Fifteen percent?—of Americans who know what the Caucasus is.

Putin has said, over and over, that Russia could not allow hostile military forces on its border any more than the US would allow Chinese military bases in Mexico or missile forces in Cuba. Washington kept pushing. Russia said, no more. In short, America brought on the war.

Among people who follow such things, there are two ways of looking at the invasion. First, that Washington thought Putin was bluffing, and he wasn’t. Second, that America intentionally forced Russia to choose between allowing NATO into the Ukraine, a major success for Washington’s world empire; or fighting, also a success for Washington as it would cause the results it has caused.

From the latter understanding, America pulled off, at least at first glance, an astonishing geopolitical victory over Russia. Nordstream II blocked, crippling sanctions placed on Russia, many of its banks kicked out of SWIFT, economic integration of Europe and Asia slowed or reversed, Germany to spend $113 billion on rearming (largely meaning buying American costume-jewelry weaponry), Europe forced to buy expensive American LNG, and Europe made dependent on America for energy. All this in a few days without loss of a single American soldier. This presumably at least in part engineered by Victoria Nuland who, though she looks like a fireplug with leprosy, seems effectively Machiavellian.

Next victim, China. Divide and conquer. Or at least that’s the theory. At the same time reinstate the JCPOA and use economic baubles to try to pry Iran away from Beijing.

Here we need some context. Everything Washington does internationally aims at maintaining America’s largely military near-hegemony over the world. This involves several elements:

First, military dominance. This includes the many hundreds of bases around the world, naval supremacy, and the huge military expenditure. Thy latter will be maintained at any cost to domestic needs, and apparently it is going to be increased.

Second, control of the world’s supply of energy. Washington is trying to starve Venezuela, with its vast reserves of petroleum, into submission. Submission means letting American-dominated oil majors exploit the country’s oil. Washington is doing the same with Iran and its enormous reserves. It has troops in Kuwait and Saudi Arabia, has confiscated Syria’s oil lands, crushed Libya, and so on. Keeping the European vassals from buying more Russian gas through Nordstream II is part of this energy control and an important part.

Third, and crucial, keep Eurasia—note the “EU”—from coalescing into a vast continent-spanning trade zone, which is exactly what China contemplates in its BRI, Belt and Road initiative. This is too much subject for a few paragraphs, but some thoughts: China is a manufacturing juggernaut in explosive growth. Economic power is the basis of all power. China has the advantage of inner lines of communication: it can build rail, fiber optics, highways and pipelines in Asia, where America has little access. China has money because it has a for-profit economy, and America doesn’t. The pull of China’s gigantic market and manufactures was beginning to loosen America’s control of Europe. Eurasian integration had to be stopped.

Fourth, the dollar. Washington controls the dollar, the IMF, SWIFT, and in general the international financial system. It uses this control brutally as a weapon to impose sanctions, crippling the economies of such countries as Venezuela, Iran, Cuba, North Korea, and now Russia. Seeing this intimidates other countries. Washington may have gone too often to this well. Having made England, its chief bootlicker, confiscate Venezuela’s gold reserves, and now freezing Russia’s reserves, Washington has served notice that no country is secure from this treatment. Here I speculate freely, but this may prove America’s worst mistake since 1619 as it may greatly accelerate the search for other payment systems—CIPS from China, SPFS from Russia, and the upcoming digital yuan. Washington, methinks, is betting the farm.

So much for the world. Meanwhile, America seems to be sinking into irreversible decadence that muss eventually—I would say soon—affect its international position. As the world’s economic and, laggingly, technological center of gravity moves east to Asia, an internally collapsing America will be less able to maintain the empire. Consider:

Washington’s printing of money, equivalent to the debasing of the coinage characteristic of failing societies, has resulted in high inflation and a potentially catastrophic national debt. This will cause political perturbation as voters seek to find which of the two essentially identical parties will not behave like the other one. Unrest will grow. Trust abroad in the dollar will decrease.

America suffers from a massive and growing trade deficit, largely with China, about which nothing can be done, certainly not soon, because America no longer makes things it needs. Manufacturing cannot be brought back, except perhaps in niche markets like semiconductors, because the US no longer has the necessary engineers and trained work force, and American labor costs more than Chinese, so reshoring would increase inflation. The importation of cheap Chinese products keeps inflation down.

The heavy flow of national wealth into Wall Street and the military in addition to offshoring has led to real poverty in Appalachia, the Rust Belt, and the rural Deep South. This has produced some 100,000 opioid deaths annually in despairing populations. Simultaneously large and growing homeless aggregations appear in LA, Seattle, San Francisco, Austin, St. Louis, on and on, estimated at 60,000 in LA and 50,000 in New York, making the subways dangerous. Bush world conditions presumably do not make for political stability, as neither does the governmental inattention to them.

Crime is out of control, not a sign of a healthy polity. Some 700 homicides annually in Chicago, 300 in Baltimore, and similar numbers elsewhere are now routine, almost all of the killers and killed being black. To countries like Japan and South Korea this must seem barbaric. The situation is not First World.

America’s racial problem is grave. The southern border is open, the southwestern states either majority Latino or soon to be. This is not as bad as it could be as the races seem to get along, but it imposes heavy economic and other costs. At the same time across the country cities have huge black ghettos with appalling semiliteracy, no prospects for the young, all of this apparently irremediable. Racial attacks on whites  and Asians grow in number and so, almost everywhere, do racial killings, mostly by blacks. Governments at all levels fear blacks who they know will burn cities if provoked, which leads tax bases to flee from cities, making things worse.

This adds to potentially explosive resentment. There is a substantial White Nationalist movement, that wants no non-whites in America (a bit late for this), Republican Chambers of Commerce, that want more illegal Latinos for the cheap labor but won’t say so, and the high-tech sector, which wants more East Asian and Indian immigrants on which America, with a failing educational system, increasingly depends.

Overall, government is weak, unable to prevent crime, riots, and looting. Washington does not control, but is controlled, being a storefront operation for special interests. Elections do not change policy but only the division of the spoils. Presidents perform their three essential duties, protecting Wall Street, Israel, and the military budget, but not much else.

Schooling is being dumbed down in stark contrast with China. Excellence everywhere is discouraged in the name of equity. Native white talent dwindles in the elite schools, from high-end high schools through CalTech, as Asian majorities predominate. Measures of talent, such as SATs and Medcats, are dropped or downplayed. English grammar and arithmetic are dropped as racist. None of this seems likely to improve America’s future competitiveness.

Finally, the media are controlled. This allows Washington freedom of action abroad as enough of the public will believe anything they are told by television (The Russians are coming, the Chinese are coming, the Iranians are coming, the Guatemalans….) Internally censorship may keep the lid on, for now anyway, by keeping enough of the population from knowing what is going on. By preventing discussion of problems, or their mention, it assures that nothing will be done. I suspect this is having the effect of winding a spring.

Where is all of this leading?

Biden is playing as if this were 1960 and the US enjoyed rock solid military and economic superiority and the population were firmly behind him. This is the world he remembers, being an aging cold warrior. He seems to believe that he consequently can do what he pleases with no repercussions for America. This may be true, or true enough. Perhaps he believes that Russia will collapse in domestic rebellion or simply surrender to the US. It is not how I would bet.

But—and this is sheer speculation—it is not clear what would happen if Russia cut off gas and petroleum and wheat and such things as neon gas from Europe. The West is accustomed to bombing remote countries, not to going without. Would Russia collapse under privation before Europe decided it wanted to trade with Moscow after all?

If Biden and the hawks decide to play hardball with China, they may realize that America is an economic dependency of Beijing. If—again, very hypothetically—China cut off all trade with America, the US economy would die instantly. Almost everything on American shelves is made in China. An American public already very unhappy would explode, which it is on the point of doing for various reasons. Reflect on the Floyd riots. China would be hurt, but it has other markets and a nationalistic population more united than the American.

Them’s my thoughts, probably worth what you pay for them.

Read Fred’s Books! Or else. We know where you sleep.

******************************************

FRED REED describes himself as [previously] a “Washington police reporter, former Washington editor for Harper’s and staff writer for Soldier of Fortune magazine, Marine combat vet from Viet Nam, and former long-haul hitchhiker, part-time sociopath, who once lived in Arlington, Virginia, across the Potomac River from the Yankee Capital.”
His essays “on the collapse of America” Mr. Reed calls “wildly funny, sometimes wacky, always provocative.”
“Fred is the Hunter Thompson of the right,” seconds Thomas E. Ricks in Foreign Policy magazine. His  commentary is “well-written, pungent political incorrectness mixed with smart military commentary and libertarian impulses, topped off with a splash of Third World sunshine and tequila.”

FRED’S BOOKS ARE ON AMAZON, HERE

FRED’S ARTICLES ARCHIVE

Killer Kink

Hardboiled is back! (The exclamation point is to arouse wild enthusiasm int the reader, a boiling literary lust.) Gritty crime fiction by longtime police reporter for the Washington Times, who knows the police from nine years of riding with them. Guaranteed free of white wine and cheese, sensitivity, or social justice.

 

FRED REED: Shere Khan: Another Kind of Woman

America, Asia, FRED REED, Gender, GUNS, Relationships

‘Those self-defense karate classes for women are worse than a joke because they …just piss the guy off. But five rounds to the center of mass will make almost anybody lose his erection.’

By FRED REED

Years ago I went in winter annually to Denver to visit friends and get in a week or two of skiing on the Front Range. I was a tolerable blue-slope skier but no more. Sometimes on weekdays we went to the Loveland slopes, utterly empty of people, chill blue sky stretching forever, long, easy runs in the cold, absolute silence except for the hissing of the skis. You could almost believe the world was a good place.

One year we went in the evening to Boulder to visit Donna Duvall and Jim Graves, who had been editors at Soldier of Fortune magazine years before when I had been on staff. We were sitting around a big kitchen table and remembering the crazy times when the doorbell rang. In came Shere Khan, as we later called her. I forget who had invited her.

She was tall, maybe five-nine, slender, of a slightly olive complexion with high cheekbones and long, straight black hair. She was not conventionally pretty, but…attractive. She turned out to be quiet, though sociable enough, and had a direct, unwavering gaze that was not hostile, not challenging, but just…well, she was looking.

In the way of old friends of mottled pasts, the only kind anyone at SOF ever had, we remembered the strange places and stranger times and this adventure and that, and I chatted a bit with Shere Khan. She said that she might come through Washington so I gave her my address, more from courtesy than any expectation of her using it.

Many months later in my condo just outside of Washington in Virginia, there was a knock at the door. I opened. There was Shere Khan, in jeans, with a serious backpack and her son Cody, maybe twelve.  It took me a few seconds to remember who she was.

For a then-single guy having such a phantasm appear at the door is a positive thing, certainly in the case of Shere Khan. I invited them in. She said she wanted to stay a week or two in DC, the implicit question being could they do so at my place. They could. I put them in my second bedroom, also office, with a large mattress on the floor which they quickly inhabited. I sensed that if anything else was going to happen, it would be sometime when Cody, who seemed to be a nice kid, was asleep.

The days went by. Shere Khan turned out to be smart and good company. We went several times to the Café Asia across Wilson Boulevard from my place where the waitresses were Far Eastern types, Malays, Viets, suchlike, mostly studying computer security or wide-area networking. Asians are Asians. She mentioned almost having married Larry McCray, a blues singer I had never heard of. Sometimes she cooked, a relief from what bachelors eat.

Like many who come to DC, she wanted to go to the Smithsonian. I instructed her in Metro’s mysteries and she set off with Cody, saying, as she had before, that she wanted to see the Native American Museum, or whatever they called it. I wondered why so much interest in Indians, and then, dolt that I am, realized: She was one. Slightly brown, high cheekbones, straight black hair. As it turned out by anatomical evidence, probably pureblood.

Early on she said that she and Cody were on their way to hike the Appalachian Trail. That explained the backpack, which was not quite an expedition pack but wasn’t a bookbag either and had an experienced look. With long legs and no extra weight, she was built for the AT.

I knew somewhat of the AT because my friend Robin and I sometimes did week-long, 85-mile hauls. This was slow by trail standards, 12 miles a day. Serious trail guys, the ones who were doing the whole 2,000 miles at one swallow, tended to be built—well, like Shere Khan, and they just sailed along. Last time out, we had met Hungry Bear—the long-hauls like to take trail names—maybe twenty-five, 6’3, lean as an ax handle, and took long, long strides that made me think of an Ent going to war. Shere Khan might have kept up. Cody, not yet, but he had the right mother.

The time came for them to head out. The night before, she sat on the floor in the living room, making her pack. She knew what she was doing, everything squoze down, put in order of when it would be needed. Surprised, I noticed the butt of a pistol. It was a lady’s gun, maybe 25 caliber, seven shot. Long thin fingers might have had a hard time managing a full-size Sig or Glock. Firearms are very illegal on the AT. Why the gun, I asked. “You never know who you might run into,” she said, in the same tone she might use in wondering where she had put that spare pair of socks.

She had a point. Backpackers are decent people, but there could always be an exception. A strong man could have tied her into a bowknot. She just wasn’t designed to fend off men, especially if there were two of them.

When I went for my concealed-carry permit in Virginia, you had to take a two-night course in how to use a pistol at the NRA headquarters on Waples Mill Road. The instructress was a female FBI agent who told the women in the class, “Those self-defense karate classes for women are worse than a joke because they would just piss the guy off. But five rounds to the center of mass will make almost anybody lose his erection.”

I think Shere Khan had this figured out. Given that serious gaze, not humorless, not drab, just…serious, I thought she would use that gun. If anybody had wanted to rape her or, God help him, touch Cody, I think it would have been seven rounds in the gut, maybe drag the body out of sight in the undergrowth and, miles down the trail, throw the gun far into the woods on in impassable downslope. I don’t think it would have bothered her. There were some things you didn’t do, and she and Cody were two of them.

I never saw her again, but I got a letter thanking me for the hospitality, enclosed with a CD by Larry McRae. Which was damned good blues.

Fred will be on vacation at the beach for a couple of weeks, but will resume his scurrilous and seditious maunderings on his return.

Read Fred’s Books! Or else. We know where you sleep.

******************************************

FRED REED describes himself as [previously] a “Washington police reporter, former Washington editor for Harper’s and staff writer for Soldier of Fortune magazine, Marine combat vet from Viet Nam, and former long-haul hitchhiker, part-time sociopath, who once lived in Arlington, Virginia, across the Potomac River from the Yankee Capital.”
His essays “on the collapse of America” Mr. Reed calls “wildly funny, sometimes wacky, always provocative.”
“Fred is the Hunter Thompson of the right,” seconds Thomas E. Ricks in Foreign Policy magazine. His  commentary is “well-written, pungent political incorrectness mixed with smart military commentary and libertarian impulses, topped off with a splash of Third World sunshine and tequila.”

FRED’S BOOKS ARE ON AMAZON, HERE

FRED’S ARTICLES ARCHIVE

Killer Kink

Hardboiled is back! (The exclamation point is to arouse wild enthusiasm int the reader, a boiling literary lust.) Gritty crime fiction by longtime police reporter for the Washington Times, who knows the police from nine years of riding with them. Guaranteed free of white wine and cheese, sensitivity, or social justice.

UPDATED (2/21): Immigration And Freedom: South Asian Canadian Truckers DO NOT Support Truckers’ Cause of Freedom

Asia, Canada, Constitution, COVID-19, IMMIGRATION, Individual Rights, Morality, Multiculturalism

Other than attaching the worst pejoratives to their cause, Justine “Trudeau has called the protesting truckers a ‘small fringe minority’ who “do not represent the views of Canadians.”

As is their wont, the folks at Fox News steer clear of the topic of trucker demographics, loudly proclaiming that the Canadian trucker freedom movement is multicultural, a class-based movement encompassing all truckers.

Conservatives just do not wish to touch the third rail of politics: Immigration (and not only the illegal kind) and its effects on the understanding of liberty in society.

Although South Asians make-up about 20 percent of Canadian truckers; they do not generally support the Truckers For Freedom movement, their representatives often expressing resentment and moral disdain at the idea of even countenancing vaccine freedom of choice. It’s as though individual rights and constitutional liberties are anathema.

“I don’t follow that convoy. I think what they are doing is morally wrong, and that they should get their vaccine shots.”

“I don’t believe in the issues they are raising,” Mr. Kang said. “I know there are some South Asian people who support this convoy, but I couldn’t see any of my people in the videos of the convoy.”

Freedom is framed here by representatives of the South-Asian trucker community as morally wrong.

UPDATED (2/21): Sikh truckers for freedom.

Then there are these outstanding people. Listen to members of the Sikh community speak with unparalleled clarity and beauty about restoring the “True North [once] strong and free” (More evidence that Canadians are better educated and polished.)

This is “articulate extemporaneous speech”. Just the words I was without provided by Musil Protege!

“They are the outliers.”

FRED REED: Plumbing The Chinese Dijjywan

Asia, Business, China, Economy, FRED REED, Government, Trade

“… When America cuts a country off from SWIFT … the blow is economically devastating. The mere threat of disconnection intimidates. Consequently many countries would like to have an alternative to [spiteful American economic strong-arming via] SWIFT.”

By Fred Reed

Normally I write about things I know. In the case of digital currencies, and in particular the digital yuan (hereinafter dijjywan) I write about something that piques my curiosity. So little seems to be known that it is difficult to find anything definitive. Yet the question is so important, digital currencies so new, the implications so sweeping, that discussion seems a good idea. The following therefore is a sort of declarative question, a listing of ideas from many sources, perhaps sometimes wrong, about which I hope readers can enlighten me. To avoid endless qualifications and caveats, I write affirmatively things that I don’t really know. Correction and thoughts welcome.

Some things to know: The dijjywan, being rolled out in the Winter Olympics, is not a cryptocurrency like Bitcoin, intended to maintain anonymity of users: all transactions are or can be known to Beijing. A dijjywan account is not a bank account, though it is administered by PBOC, the People’s Bank of China.  You don’t need to have a bank account to use it. It does not earn interest. You cannot speculate in dijjywan any more than you can with normal yuan, because the digital yuan is the normal yuan, but in digital form. A dijjywan account does not provide access to credit. It is as close to being physical currency as you can get without being physical currency. Transactions are instantaneous and final.

So how does it work? As an individual, you will download an app that China calls a digital wallet to your cellphone, as you would any app. This is currently being done in China. You do a face scan and the system gives you a unique QR code. You now have a dijjywan account. No bureaucracy, filling out of forms, demands for identification, or examination of financial history. There is nothing new or Star Wars about this. Everyone in China has already done it to use WeChat Pay or Alipay.  Some eighty percent of retail transactions in China are made by cellphone app, making acceptance there likely.

Suppose that you are in Kathmandu and I am in Cancun and you want to send me five hundred dijjywan. You call up the app, go to contacts, tap Fred, type in 500, and hit send. Five seconds later in Mexico, I have the money. (I made that up, but it is close to payments I have seen made in Chengdu.) For practical purposes instantaneous, no bureaucracy.

Interesting question: What would easy, convenient, fast transfer of funds by cellphone do to Western Union? What would it do to debit cards from Mastercard and visa? American credit-card companies get a percentage of every sale. If China, as a tactic of economic warfare, did not take a rake-off or took a smaller one, what would this do to Visa and Mastercard? Merchants would certainly favor a system that cost them less.

When China goes cashless with the dijjywan, which is its stated intention, it will improve efficiency within China but have no great effect in the outside world.  Who outside of China would want to use a Chinese digital currency?

Perhaps lots of people. There being many Chinese tourists in Cancun, hotels and restaurants would like to grab business from Chinese who didn’t want to bother with currency conversion. Mexico likely would be happy to have the money come into the country.  People in Zimbabwe, whose currency is worthless anywhere else, and who might worry that Harare would print even more money and destroy their savings, would be happy with dijjywan that could be taken out of the country or spent internationally online. Such a nation, if it wanted a stable currency, might make the dijjywan the national currency, or a national currency, as Panama and Ecuador do with the dollar. People without bank accounts, estimated at two billion, would find it useful. The result would be a distributed all-yuan Sinocentric financial ecosystem.

The Chinese currency would appeal to the many countries that do not want American influence over their finances. Dijjywan would be a reliable store of value for, say, people in Brazilian favelas as robbery would be nearly impossible: An armed robber could force his victim to transfer money to his phone, but this would create a record in the Chinese cloud of time, place, amount, and identity of both parties. The authorities could simply extract the stolen lucre and replace it with the rightful owner, and freeze the thief’s account. Digital policing of this sort has been mentioned by Chinese authorities.

Intriguing, though not related to China: America is dabbling with the idea of a digital dollar. If America went cashless (granted, not likely before the heat death of the sun), the illegal drug trade would disappear overnight. In retail transactions, on which the trade depends, with the friendly corner crack merchant, the identities of both buyer and seller would be recorded. This would not be good for business.  Dealers could easily be detected. No arrests would be needed, as freezing their dijjywan account would suffice. Since accounts depend on face recognition, the dealer could not set up another account. Totalitarianism has its appeals.

Digital-currency accounts would be programmable. If a country went on an anti-booze crusade, people could be prevented from buying more than a certain amount of liquor per month. China has pointed out the virtues of the dijjywan in stopping money laundering. These ideas justifiably upset civil libertarians, but they represent an upside to the downside. What would be the social effects of ending the drug business in black ghettoes?

The possibilities for surveillance and social control are obvious but, since China is going all-digital anyway, alarm is unlikely to have much effect. Perhaps worth noting is that America is going fast in the same direction, with much of  the surveillance and censorship ‘being done by semigovernmental enterprises such as Google and Twitter. With many countries considering digital currencies, it appears that we will fairly soon have them anyway. And, if history is a guide, the likelihood is that most people would accept surveillance as the price of convenience.

But let’s get to the serious stuff: America’s financial sanctions on countries it doesn’t like. As perhaps most people know, international payments, as for example for oil, go through the SWIFT financial payment system, headquartered in Brussels, supposedly independent but in fact under American control. It is the only practical way for countries to do business with each other. When America cuts a country off from SWIFT, as it has with Venezuela, Iran, and Cuba, the blow is economically devastating. The mere threat of disconnection intimidates. Consequently many countries would like to have an alternative to SWIFT. So where does the dijjywan come in?

Note that the digital yuan is scalable. In principle it is as easy to send a million as a hundred dijjywan, making it practical as a means of paying for, say, petroleum from sanctioned countries. Further—read this carefully: dijjywan transactions are completely independent of Washington, completely independent—eeek!—of SWIFT, and, thanks to heavy encryption, opaque to the US. This threatens America’s ability to strongarm other countries and, if widely adopted, would result in a major diminution of US power in the world.  It may be that China has thought of this. The US certainly has.

Why could a tobacconist in Paris not buy five thousand dollars of cohiba cigars from Cuba, or China a tanker of oil from Venezuela, or any business in Europe goods to or from Iran, or from each other, in dijjywan? The US might make it difficult for sanctioned countries to convert dijjywan to other currencies, but this would simply force those countries to trade more with China.

China has said repeatedly that, why, no, it has no thought of using the dijjywan for international settlement payments. As Deutsch Bank says, it is being set up for domestic use. However, China is working with—whatever exactly that means—Hongkong, Thailand, and the UAE for just this purpose. Why the UAE? Not because China wants to further retail sales to the Emirates by Alibaba, since they have the aggregate population of a large city bus. But they have oil. Interesting. Let us remember that China very, very much wants to internationalize the yuan.

A concern mentioned by the Treasury Department, and the Foreign Policy Research Institute,  is that there could result a distributed Sinocentric financial ecosystem independent of the West. Many countries that trade heavily with China, or have poor relations with America, might come aboard. The Central Asian stans, the BRICS, Latin American countries tired of being under the US boot. China might make use of the dijjywan a requirement for loans and participation in the BRI. It would not be either the dijjywan or the dollar as countries could use both.

American officials often say complacently that the yuan accounts for only a small percentage of international commerce and that the dijjywan is no threat to the dollar’s hegemony. Perhaps. But the world’s economic and technological center of gravity is moving to the east, a market as huge as China’s has persuasive powers all of its own, many countries want to avoid American domination, and the digital yuan is something entirely new. I don’t think anyone really knows what effects we will see.

Thoughtful comments welcome and, again, I throw these ideas out in search of enlightenment, not because I regard myself as an authority.

Read Fred’s Books! Or else. We know where you sleep.

******************************************

FRED REED describes himself as [previously] a “Washington police reporter, former Washington editor for Harper’s and staff writer for Soldier of Fortune magazine, Marine combat vet from Viet Nam, and former long-haul hitchhiker, part-time sociopath, who once lived in Arlington, Virginia, across the Potomac River from the Yankee Capital.”
His essays “on the collapse of America” Mr. Reed calls “wildly funny, sometimes wacky, always provocative.”
“Fred is the Hunter Thompson of the right,” seconds Thomas E. Ricks in Foreign Policy magazine. His  commentary is “well-written, pungent political incorrectness mixed with smart military commentary and libertarian impulses, topped off with a splash of Third World sunshine and tequila.”

FRED’S BOOKS ARE ON AMAZON, HERE

FRED’S ARTICLES ARCHIVE

Killer Kink

Hardboiled is back! (The exclamation point is to arouse wild enthusiasm int the reader, a boiling literary lust.) Gritty crime fiction by longtime police reporter for the Washington Times, who knows the police from nine years of riding with them. Guaranteed free of white wine and cheese, sensitivity, or social justice.