Why US Congressmen Are Up in Arms Over Trump's Peace Initiative With Russia
by John Lawrence, July 18, 2018
In short it threatens their and their family's financial security. They are counting on the fact that, when they retire to "spend more time with their family", they will get a cushy position on the Board of Directors of a major defense contractor like General Dynamics, Lockheed Martin, Boeing, Northrop Grumman or Raytheon or maybe their wife or children already hold such positions. There's also those cushy lobbyist jobs lobbying their former colleagues for more money for the military-industrical complex. If peace breaks out, there will be no justification for the outlandish, oversized and gargantuan defense, intelligence and Homeland Security budgets.
The US dollar will lose its privileged position as the world's bully currency slapping sanctions on any country that gets in its way. Diplomats will have to start being diplomatic instead of talking down to those they consider to be their inferiors which are mainly diplomats from every other country of the world. The chickens will come home to roost in the world's largest debter nation which will actually start having to pay those debts to other countries' sovereign wealth funds instead of rolling them over and increasing them on a yearly basis. There will be a run on the US Treasury as individuals and countries try to get out of US Treasury bonds which will have lost their value.
The US position as the world's alpha dog will be reduced to shambles if peace breaks out. That's why enemies of the US are so carefully crafted by the US political and military establishment. That's why there's outrage on Meet the Press (sponsored by Boeing) over Trump's peace overtures with Russia and North Korea. All the work that has gone into creating them - as well as Iran and others - as enemies will have been wasted. We can't have peace. It is not good for US defense contractors. It is not good for the US dollar. It is not good for the US economy.which will not be able to absorb all its non-college bound youth, absorbed now by the military.
However, as Trump courts peace with Russia and North Vietnam, he's on track with the defense industry in one regard. With Trump a foolish consistency is the hobgoblin of small minds. He's trying his best to maintain oil as the world's largest traded commodity which can only be traded for in dollars thanks to Richard Nixon's 1971 deal with Saudi Arabia. Of course the Saudis are our main ally because this keeps the US dollar as the world's bully currency, the alpha dog of currencies. But when the demand for oil goes down precipitously as it will as renewable electric resources come online, the dollar will lose its position and the US will not be able to control other nations. The value of US Treasuries will plummet as investors seek to buy US real estate, which will not have lost its value, instead of holding onto US Treasuries. The stock market as well as corporate bonds should also see an influx of money. The odd man out will be Uncle Sam and the US military-industrial-intelligence-security complex which will have to reduce itself to a size comparable to the rest of the world's defense budgets and get rid of hundreds of overseas bases. Actually this would be a good thing.
No longer will the US be the world's hegemon, but the world may become multi-polar. One thing is sure, however. The US will no longer be able to borrow money just to pay interest on US debt. Republicans will blame the Democrats for that is my prediction. They will state unequivocally that the only way out of that predicament is to give more tax breaks to the rich.