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Meet the New Resource-Based Global Reserve Currency

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Pepe Escobar
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And last but not least, don't mess with a Nuclear Bear.

Essentially, this is what hardcore power politics is all about. Medvedev was not bragging when he said the era of a single reserve currency is over. The advent of a resource-based global reserve currency means, in a nutshell, that 13% of the planet will not dominate the other 87% anymore.

It's NATOstan vs. Eurasia redux. Cold War 2.0, 3.0, 4.0 and even 5.0. It doesn't matter. All the previous Non-Aligned Movement (NAM) nations see which way the geopolitical and geo-economic winds are blowing: the time to assert their real sovereignty is at hand as the "rules-based international order" bites the dust.

Welcome to the birth of the new world system. Foreign Minister Sergei Lavrov, in China, after meeting several counterparts from across Eurasia, could not have outlined it better:

"A new reality is being formed: the unipolar world is irrevocably becoming a thing of the past, a multipolar one is taking shape. It's an objective process. It's unstoppable. In this reality, more than one power will "rule" - it will be necessary to negotiate between all the key states that today have a decisive influence on the world economy and politics.

At the same time, realizing their special situation, these countries ensure compliance with the basic principles of the UN Charter, including the fundamental one - the sovereign equality of states. No one on this Earth should be seen as a minor player. Everyone is equal and sovereign."

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Pepe Escobar is an independent geopolitical analyst. He writes for RT, Sputnik and TomDispatch, and is a frequent contributor to websites and radio and TV shows ranging from the US to East Asia. He is the former roving correspondent for Asia (more...)
 

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