Iran has destroyed American hegemony in the world.
https://x.com/remi_philiponet/status/2082390258482626964
Translated from French
"Jeff Curry, economist 
, former head of commodities at Goldman Sachs and a deep expert on the dollar system, has just drawn the red line that America cannot cross. Handing control of the Strait of Hormuz to Iran is not a tactical retreat. It is the official end of American hegemony on the world stage and the disappearance of the dollar as the international reserve currency !!!
In 1945, the United States struck a deal on which the world still depends today: we protect all the major sea routes with our navy, so you use our dollar and route your money through New York.
Oil was the strategic commodity that allowed this deal to endure.
After Nixon broke the dollar's gold peg in 1971, this same deal gave birth to the petrodollar system, which still finances the American standard of living today.
Jeff Curry is categorical: if the United States pulls back and lets Iran and Oman manage the strait, no matter the fee amount, the rest of the world will see that the protector has been defeated.
All other strategic passage points on the planet then become potential targets.
The Fifth Fleet would then need Iranian permission to enter or exit its own base in Bahrain – an image that overnight shatters the illusion of mastery over the seas.
Jeff Curry cites the example of Switzerland: a 30-year fixed-rate mortgage at 0.50 basis points, because global capital flows to a safe currency.
That is the privilege America still enjoys.
The United States currently spends 7% more than it produces!!!
Eliminate global demand for dollars, and that deficit will turn into genuine economic suffering.
No prior hegemon – neither Great Britain, nor Spain, nor any other – was ever driven from the world's main sea routes while retaining its hegemony.
Jeff Curry is clear: you can fall back on the Monroe Doctrine and defend only the Western Hemisphere, but then you stop being the world power and the dollar is no longer the reserve currency.
America can lose battles. It cannot lose the Strait of Hormuz and still claim to lead the system that has shaped the last eighty years.
As soon as the world realizes that the United States no longer guarantees freedom of navigation, the privilege that sustains the American consumer will begin its irreversible decline."
Iran has destroyed American hegemony in the world.
, former head of commodities at Goldman Sachs and a deep expert on the dollar system, has just drawn the red line that America cannot cross. Handing control of the Strait of Hormuz to Iran is not a tactical retreat. It is the official end of American hegemony on the world stage and the disappearance of the dollar as the international reserve currency !!!
In 1945, the United States struck a deal on which the world still depends today: we protect all the major sea routes with our navy, so you use our dollar and route your money through New York.
Oil was the strategic commodity that allowed this deal to endure.
After Nixon broke the dollar's gold peg in 1971, this same deal gave birth to the petrodollar system, which still finances the American standard of living today.
Jeff Curry is categorical: if the United States pulls back and lets Iran and Oman manage the strait, no matter the fee amount, the rest of the world will see that the protector has been defeated.
All other strategic passage points on the planet then become potential targets.
The Fifth Fleet would then need Iranian permission to enter or exit its own base in Bahrain – an image that overnight shatters the illusion of mastery over the seas.
Jeff Curry cites the example of Switzerland: a 30-year fixed-rate mortgage at 0.50 basis points, because global capital flows to a safe currency.
That is the privilege America still enjoys.
The United States currently spends 7% more than it produces!!!
Eliminate global demand for dollars, and that deficit will turn into genuine economic suffering.
No prior hegemon – neither Great Britain, nor Spain, nor any other – was ever driven from the world's main sea routes while retaining its hegemony.
Jeff Curry is clear: you can fall back on the Monroe Doctrine and defend only the Western Hemisphere, but then you stop being the world power and the dollar is no longer the reserve currency.
America can lose battles. It cannot lose the Strait of Hormuz and still claim to lead the system that has shaped the last eighty years.
As soon as the world realizes that the United States no longer guarantees freedom of navigation, the privilege that sustains the American consumer will begin its irreversible decline."
Iran has destroyed American hegemony in the world.Rate this translation:
posted by Satish Sharma at
03:27
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