“That sounds easy. I’d print some too, and get rid of theirs!” Every now and then, some idiots think they have discovered a great idea.
Saddam Hussein suggested alternative currencies for oil. Dead. Gaddafi of Libya — a country with one of the highest education standards in Africa, and lots of gold — thought about creating a gold standard African currency to trade African resources. Dead in no time. Teeny-weeny Libya was hammered by a coalition of powerful ex-colonials and military superpowers. A Central Bank was hurriedly set up. No one cared. The Free Press is always on the side of goodness. Hurrah! Libya now has Free Trade and Democracy, with a perpetual civil war thrown in for free. Perfect. Let this be a lesson for all.
But looting is more addictive and corrupting than opium in the long run. Greed knows no limits. It’s biology, psychology, sociology, human nature, karma, natural retribution. Nothing can change that. Emperors eventually go mad. Credible usurpers will emerge. The Euro might have tried halfheartedly, then whimpered away. The multi-polar BRICS solution could be a revolutionary army in the making. If not, it’d be something else.
However, when the change comes, it will be turbulent, even violent. Brute force has become the one thing that they know best, a habitual resort to protect the universal looting rights of a few families.
Guo Du 2014.7.29