Below, we have a thoughtful and intelligent debate between two very astute thinkers which illustrates a dichotomy: is the current form of dollarism / capitalism so deeply entrenched that the BRICs development fund and trade partnerships are mere rhetoric? Or is there a deeper motivation to truly break free from the dollar faction?
The argument of a more deeply intertwined international dollar alliance (motivated by the universal allure of profit) is brilliantly articulated by Leo Panich. And then we have the position of Michael Hudson, which acknowledges the dangers and unsustainability of IMF / World Bank parasitism and dollar faction subservience. These arguments are quite well presented:
In the end, the status quo remains stubbornly resilient, and the wheels of change grind ever so slowly toward that transition from a debt-based to an equity based global wealth reserve system. I believe that the seeds of Hudson's argument are being carefully planted and nurtured by a growing recognition that the timeline of the dollar-debt wealth reserve system is entering its final stages. BRIC governments are thus making the politically expedient (public, vocal) commitment to help move the "wheels of progress" along, but only gradually, so as to avoid the backlash of total collapse. And from here, the screw further tightens.
This discussion is truly central to understanding how our future may unfold. It informs strategic movements upon the geopolitical chessboard of the 14 or so generational wealth dynasties who sit upon (with their proxies) the boards of the BIS and the central banking / primary dealer networks which dictate global monetary policy to the various elements of the classe politique (whose role it is to then formulate and express some version of how such decisions benefit the best interests of their citizenry).
And through an information access awakening there has come about a growing understanding of what global corporatism is, and how global corporations and governments cooperate in the best interests of each other more so than in the interests of "customers" and "constituency".
Therefore the citizenry has never been more skeptical of such formulaic propaganda than today. And the truth (like change) is slowly and inexorably grinding forward.
Today, "We the People" are more powerless against the tyranny of Empire than in the 1770's. It is truly the 1% (governments and corporations) who dictate how wealth is denominated, gained and preserved, and it is only when the present system becomes inimical to their best interests that the somewhat foregone conclusion of collapse and rebirth accelerates and can be actualized.
Or so the conversation often goes, in the smoking room adjacent to the Roacheforque library, after several fine armagnacs are decanted and dispensed. Preparations for change have long ago been made, the present system being so artfully refined that most of us consider a rebellion of the little people to be an unlikelihood of epic naivete.
It will be an argument between Giants that triggers the fall.