U.S. President Donald Trump’s declaration of trade war with just about everybody is really just a case of Trump negotiating a Chapter 11-style bankruptcy for the United States. A kinder way of putting it would be to say that the U.S. is revolting against an international system that has looted its people on behalf of globalist oligarchs. Yet another way of putting it is to say the world is negotiating a replacement for the petro-dollar system. In any case, we can now expect a lot more shouting and bluster, and possibly even the odd nuke or two, as these negotiations proceed.
In public, this dispute can be seen in the biggest open split between European powers and the United States since the end of World War 2. We have the leaders of France, Germany, and the EU openly calling for an end to the post-war European/American alliance. The U.S. side, for its part, has publicly threatened sanctions against European countries. Under the surface, a U.S. assassination campaign against disobedient EU leaders is also a good guess.
The immediate trigger was Trump’s decision to leave the Iranian nuclear accord. Of course, anybody who is following what is really going on knows that the Trump decision to leave the Iranian nuclear accord has nothing to do with nuclear weapons and is really about Iran’s announcement that it will sell oil to Europe priced in Euros, not petro-dollars.
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