Can the violation be changed into?

Fair Observers will soon renew our regular publication conversations we call “Money is important”. In it, we publish thoughts, insights and matters shared by a group of experts and contributors, willing to participate in open dialogues aimed at understanding key decisions and initiatives about international payment systems and that these decisions may have an impact on the evolving earth-political order. Decisions currently debated and increasingly implemented will affect the global economy in the future, thus affecting the lives of the 8 billion residents on our planet.

Among the well-known experts, Kathleen Tyson, a former central bank of the Federal Reserve Bank of New York, recently tweeted about the global trends of central banks to diversify from a global trend that is strictly dependent on the dollar: “Money selectivity is now a matter of economic and national security. The U.S. reliance on more tariffs and dangers on the threat and scope of local currency trade and trade trade and its corporate dependence, and demonstrates the dependence of that danger.

Everyone understands the meaning of flexibility. But what about selectivity?

Today’s Weekly Devil’s Dictionary definition:

Selectivity:

Synonyms of the euphemism of the common noun “select”. It is used to avoid a simulation of “moral judgments” exercised by dominant powers, who believe that their set of rules aims to normalize economic behavior, give them the right to force others, and have the obligation to limit others’ ability to choose.

Context Comments

Tyson is of course referring to the growth trend seen in various countries to design methods, techniques and technologies that will give central banks and other forex operators the flexibility to trade and, where possible, directly between the widest range of individual currencies. This means adopting an attitude designed to avoid the most convenient solution for everyone: holding the dollar reserve.

So, why stick to a new theology of technocracy? Why not be simpler and natural, calling this “currency choice”?

There are several understandable reasons for vocabulary innovation. Different from the idea behind the word choose,,,,, Selective It does not refer to the choice behavior, but to the persistent state of flexible strategic choice as the default setting. on the contrary, choose For modern ears, people evoke a specific behavior, that is, by taste as much as rational calculations. It even includes the idea of ​​not choosing. Selectivity means the necessity of choice.

The emergence of the concept of “consumer choice” in the 20th century polluted our vocabulary. It defines a mindset that consumers face a wide variety of brands, exercising free will by choosing the people they find most attractive. This even affected the democratic model in the United States. Now, Americans know that they have a choice between two viable brands. Elections are about persuading voters that one brand is better than the other.

The emergence of consumer associations has allowed marketers to develop a complementary concept, the concept of impulse buying decisions. Given the severity of Forex, options can be considered as a necessary alternative to the final consumer choice concept.

Unlike consumer decisions, selectivity is emotionally neutral. It assumes that there is cold rationality in its decisions. Ironically HOMO ECONAACHUS – Pure rational ability to calculate the best correlation with their interests at any time – The concept of impulse buying is used as a staple in marketing “science”.

To understand the transition from an increasing number of unipolar, normative and compliant 20th century, and the increasingly destructive 21st century, it may be helpful to think about these differences in these vocabulary. It’s too easy to deny a word Selective As a futile example, it is a self-established professional elite’s taste for terminology designed to meet their needs for a different and superior feeling from their shared culture.

What we are seeing today is an emerging world hurting and chaotic due to Washington’s obsession with sanctions. Rather than seeking to undermine the dollar, wise bankers and politicians focus on defining an area of ​​choice that may play a normal economic relationship without fear of coercion and intimidation. They not only had to take the form of slave uprisings, but also invented new practices and technologies, but also vocabulary that helped define a new economic and cultural system.

History

Since the beginning of the 21st century, two major events have changed the way countries understand the world order. When President George W. Bush responded to the drama of the September 11 attack, he launched a war with Afghanistan, a nation-state, instead of framing the issue as a criminal incident, his futile “forever war” ultimately undermined the image of the United States, damaging the image of the United States as a unipolar self-defined rule-based command. Its global military presence was a serious blow to the police in the name of democracy. President Joe Biden’s retreat from Afghanistan in 2021 after 20 years of Feckless War confirmed the world’s worst suspicion.

It is said that the U.S. military machine has confirmed that the fall of Saigon nearly 50 years ago should have been clear: Even without competing with competitors on Earth, the U.S. military is unable to impose its will on the rest of the world. Thanks to Bush, a pillar of the supremacy of the United States has been severely damaged by the whole world.

The 2007-2008 financial crisis initially caught a glimpse of another pillar’s ​​weakness: the U.S. economy, its tentacle stock market and the all-around dollar. Shock is real, but not deadly. Thanks to President Barack Obama’s commitment to quantitative easing (QE), the dollar has played a key role, but its core is already seriously fragile.

After evacuating from Afghanistan, Biden made a new strategic mistake, confirming the impact of the world’s belief that currency selectivity has become the necessity of survival. Washington has been addicted to sanctions for decades, aiming to undermine and ultimately overthrow the governments of every country that failed to show proper respect for what Noam Chomsky calls the “godfather.” Extreme measures taken to Russian President Vladimir Putin’s response to the Ukrainian invasion in February 2022 should be obvious: Every country should worry about the dollar. When Biden cut Russia from the rapid payment system and threatened to punish any country that operates with Russia, countries with the global appearance realized that holding too much USD, despite the convenience of trade, could have potential risks.

The “tax” movement has been growing slowly over time. In 2016, Obama’s Treasury Secretary Jack Lew expressed his awareness of U.S. risks. He warned that “the escalation of financial sanctions will only accelerate this trend, and further losses are exacerbated as more countries use digitalization to expand their utilization of bilateral transactions and develop more hedging tools.” He added this observation: “The more we restrict the use of the dollar and the financial system complies with U.S. foreign policy, the greater the risk of immigration to other currencies and other financial systems in the medium term.”

As Lew expected, the mid-term failed his predictions. Currency selectivity will inevitably become part of the new world order.

* (In the time of Oscar Wilde and Mark Twain, journalist Ambrose Bierce produced a series of ironic definitions, ironic definitions of common terms, illuminating their hidden meaning in real discourse. Bierce eventually collected and published it as a book and used it as a book, and he mastered his depliment in 1911, and in the continuous effort, his title was ongoing, his title was shame, and his title was ongoing effort. Fair Observer Devil Dictionary)

((Lee Thompson-Kolar Edited this. )

The views expressed in this article are the author’s own and do not necessarily reflect the editorial policy of fair observers.