The economic recession seems to have started with full force and is showing its effects on the world economy. In a series of dramatic events, two major banks in the United States of America—Silicon Valley Bank and Signature Bank—have collapsed. They have stopped working, and funds deposited by people and companies have been trapped.
These two banks suffered significant losses, and the overall value of their shares plummeted dramatically. In addition, there is a high probability of the downfall of First Republic Bank. This has created fear and panic in the banking sector worldwide. The shares of all leading banks in the United States of America and other countries decreased significantly. Credit Suisse, one of the most prominent banks in Switzerland, is also in danger. It has asked for a $50 billion loan from the Swiss central bank to stay afloat.
Many industry experts believe that more banks & financial organizations will go bankrupt in the coming days. Therefore, there is panic among those who have maintained bank accounts with small and medium-sized banks. Now, many people are withdrawing their money from small banks in droves and depositing it in big banks to ensure their money is safe.
I am not surprised by the events unfolding in the United States of America and other countries. But, first, China's biological war against the rest of the world destroyed the economies of multiple countries, killed approximately 7 million people across the globe, and abolished the employment of more than 220 million people.
We have been battling COVID-19 since 2020, and things started returning to normal in 2022. But the corrupt deep state in the United States of America and other Western countries engineered the Ukraine-Russia war, which has been causing tremendous damage to the world economy and creating problems for many ordinary individuals living in different countries.
I believe that America is the biggest rogue nation on the planet. This country has a strange habit of acting like the world police, unnecessarily interfering in other countries internal affairs, launching needless wars, and killing innocent people without any reason. The ruling elite in the United States of America loves to start fights on the soil of other countries, sell costly weapons to both parties involved in the conflict, and mint money. This country was involved in-
Dropping atomic bombs on Hiroshima and Nagasaki,
Killing politicians and other prominent people in different countries,
Launching wars in countries like Vietnam, Korea, Iraq, Afghanistan, Syria, etc.
If I start mentioning all the wrongdoings of the United States of America, I will have to write a book with a detailed description of all the events. One of the main reasons for the double standards in this country is that it keeps a massive stockpile of atomic weapons but lectures other countries about nuclear disarmament. That is why no nation is ready to surrender its desire for nuclear weapons.
Unfortunately, many would not agree with my assessment, but we are living in a world where financial ecosystems are controlled by the ecosystem created by the United States of America. The US dollar is used as a global reserve currency which is essential for international trade. When two countries have to sell or purchase goods and services, they are supposed to use US dollars. This gives the US government a considerable advantage. As every country on the planet needs US dollars for international trade, the government in the United States of America has exploited this situation very well to its advantage.
We must put gold or other valuable assets in the Reserve Bank to issue the money. But you will be surprised to learn that the United States of America abolished the gold-based money printing system in 1971 during the Vietnam War to arrange money for its expenses. Since then, this country has been printing paper dollars and sending them to foreign countries in exchange for goods and services.
They have printed so many dollars out of thin air that inflation has skyrocketed in many countries, and there is a high probability that this ill practice will explode anytime soon. Moreover, taking undue advantage of the dollar's status as the global reserve currency, the United States of America changes its monetary policies occasionally to protect its financial interests at the expense of other countries.
You will be surprised to know that the US is submerged under a vast debt of $31 trillion, thanks to the global reserve currency, the dollar. It can print any amount of dollars and dump them into the market to survive. The problem with the United States of America is that it has a strange tendency to weaponize the dollar-based global banking system and put economic sanctions on any country or business organization that doesn't agree with its policies.
It has imposed economic sanctions on Russia, Cuba, Iran, Venezuela, Zimbabwe, China, and others. The unilateral economic sanctions imposed by the United States of America create problems in international trade and destroy the economies of sanctioned countries. As a result, many countries seek ways to free their economies from dollar-based monetary systems and trade with each other using a credible financial ecosystem.
Russia and China have taken many steps to decrease the use of dollars and other hard currencies for international trade and free their economies from the clutches of the American monetary system. For example, China actively encourages countries to use its money for international trade and has developed an ecosystem alternative to SWIFT. In the same way, Russia aggressively pursued the movement and created its alternative to the US-controlled financial messaging system.
It has taken many steps to decouple its economy from the US-dominated financial system and trade with other countries in national currencies. Many countries have sold their US Treasury bonds and added Chinese yuan and other currencies to their foreign reserves. This will help them protect their economy from the unilateral sanctions imposed by America and keep trading with other countries freely.
Little by little, the world is taking steps to decrease the use of US dollars for international trade. The de-dollarization movement is gaining momentum with each passing day. Sure, it will take time, but the results will be pretty unpleasant for the United States of America.
I believe the Ukraine-Russia war has continued even after one year due to the United States of America and its NATO allies. Instead of using taxpayers' money for good purposes, the collective west is sending enormous amounts of money and deadly weapons to the corrupt Ukrainian government so that they can keep fighting Russia for a long time and damage it as far as possible.
The wastage of money in the Ukraine-Russia war is now resulting in financial problems in the United States of America and other Western countries. The common public in developed nations is fed up with the rapidly increasing costs of essential goods and services, and they are now facing a cost of living crisis. Many people are compromising their living standards and cutting the necessary expenses to stay afloat and cope with increasing inflation.
You will be surprised that many people in western countries have gone below the poverty line since the Ukraine-Russia war in 2022. Unilateral sanctions imposed on Russia are backfiring on Western nations. The European Union is struggling with the increasing cost of fuel and other essential items, and there is a high probability of de-industrialization if situations don't improve.
The United States of America is a parasite that is sucking up the rest of the world using its monetary system and other technologies. Big countries like Russia, China, India, and Brazil are giving a tough time to the corrupt deep state in this country. It would not be wrong to say that because of the wrong policies of US President Joe Biden, the entire world is suffering economically and environmentally.
The Ukraine-Russia war resulted in the killing of many innocent people and the displacement of the civilian population. Today's financial problems result from stupid American politicians and deep-pocketed investors. In my opinion, despite financial and military help from the west, Ukraine is not in a position to defeat Russia. In the coming days, Putin will crush Ukrainian comedian Zelensky and his long-awaited dreams.
The 2023 economic recession is in full force. We will witness the collapse of many business and financial organizations, the mass layoffs of working professionals, unemployment, social chaos, and civil unrest in many countries. So, prepare for the worst—a financial tsunami—sooner than later.
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