Pro Perspectives 3/23/23

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March 23, 2023
In my election day note back in 2020, I said this: "the stakes are extremely high in this election. China is on the doorstep of overtaking the United States as global economic superpower, and they won’t be looking to spread democracy – rather, they have a clear and explicitly stated goal of world domination."
Trump had been a wrecking ball for the Chinese Communist Party’s grand plan. And with that, it’s safe to say they would do anything and everything to get rid of him. 
Here we are, and America (the global hegemony) is now leading a high-risk global economic and social transformation plan for the Western world, which has resulted in eroding influence and sovereignty.  Meanwhile, China has been strengthening itself on both fronts.
Moreover, in the past two weeks, China has brokered a deal between the Saudi's and Iran.  And strengthened ties with/influence over Russia.
So, the Western world is purging itself of one of the world's most important resources (oil, which plays a vital role in national security and prosperity) — and China has, not only stockpiled oil at cheap prices through the global pandemic period, but has now strengthened its access.
And it appears increasingly likely that China will be buying oil from these oil-rich countries, with yuan, not dollars.
This is a huge deal.
The "petrodollar" has been the cornerstone of the dollar's role as the "world's reserve currency."  And the world reserve currency status has been key in building and sustaining the United State's position as the economic superpower. 
Anti-oil policies of the Biden administration are the equivalent of taking a shotgun to one's own foot.
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