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In an essay headlined... China-Sanctions Madness Imperils the Dollar, Ryan McMaken of the Mises Institute points out that the era of America's unipolar hegemony soon will be over - if politicians continue their insane pursuit of sanctions by restricting access to the SWIFT system which facilitates international transactions in US Dollars.

China, Russia and others have seen this day coming and have created their own SWIFT system, world cable network and world banking system. All that’s needed to kick it all into gear is a major international need to bypass SWIFT. The US government has just provided that need with this threat. There would certainly be teething pains in getting the new system running on a massive scale, but the sudden worldwide need would drive the implementation.

It seems to me that all the actions certain politicians are pushing (a wall, fair trade initiatives, banking system restrictions) are the sort of things that might have been effective 25 years ago - but the window of opportunity is long gone.

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