The Inevitable Decline Of Empire

We live such short lives. Around 80 years, if we are very lucky. In our lives, what shall we see?

In THIS lifetime, we may be about to see the end of the United States as a dominating global power. If the neo-cons' reckless crusade for oil was the beginning of the end, the trigger may come when Russia starts using the euro instead of the dollar for its oil pricing.

"We do not rule out that it is possible," says Vladimir Putin. "That would be interesting for our European partners."

More than half of Russia's oil trade is with Europe. Other oil exporters who would be quick to follow the switch to the euro include Iran and Venezuela. Given the speed with which Iraqis - including the hand-picked Governing Council - are turning against their American oppressors, it is even conceivable that Iraq would follow soon after (assuming the US ever relinquishes power).

According to the Moscow Times, the move could be "catastrophic" for the United States:

"Dollar-based global oil trade now gives the United States carte blanche to print dollars without sparking inflation -- to fund huge expenses on wars, military build-ups, and consumer spending, as well as cut taxes and run up huge trade deficits.

"Almost two-thirds of the world's currency reserves are kept in dollars, since oil importers pay in dollars and oil exporters keep their reserves in the currency they are paid in. This effectively provides the U.S. economy with an interest-free loan, as these dollars can be invested back into the U.S. economy with zero currency risk."

As the Black Commentator website notes, this shift in global forces was predicted by many when Bush began pulling down the pillars of post-WWII world order.  It is the logical result of, and answer to, the president’s 2002 ultimatum, “either you are with us, or against us.”

As Lutz Kleveman, author of The New Great Game: Blood and Oil in Central Asia writes:

"Bush has used his massive military build-up in Central Asia to seal the cold war victory against Russia, to contain Chinese influence and to tighten the noose around Iran. Most importantly, however, Washington - supported by the Blair government - is exploiting the "war on terror" to further American oil interests in the Caspian region. But this geopolitical gamble involving thuggish dictators and corrupt Saudi oil sheiks is only likely to produce more terrorists."

Putin may be bluffing and just trying to get some leverage for Russian influence in Iraq and OPEC, not to mention Europe. But the big question on many analysts mind is - "why not?" Why not switch to the euro?

Interestingly, Saddam Hussein began trading Iraqi oil in euros in November 2000.

For another look at an empire in decline, George Monbiot looks at the increase of outsourced telesales jobs in India. Monbiot argues that "the jobs Britain stole from the Asian subcontinent 200 years ago are now being returned."

What we are also seeing, in our lifetimes, is the collapse of the global ecosystem. But that's another story...