Planck Foundation



The era since 1990 that the US governments, listed companies and later on home owners could consume the income of other countries has come to an end. Not balanced issues are always ending. The same development that ends slavery, will end US dominance. They screwed up the unique major benefit they have by being the world currency (as in: unlimited currency/credit supply), the global main internet domain (.com) (and therefore the main internet based companies of the world), the main operating systems (truly an act of innovation) and many more beautiful assets by stretching this asset to long to much by forgetting that real economic value is created by production. It's not by coincidence that the USA was the largest consumer of oil in the world. This energy consumption must be imported and waters down (or even swift) the real economic value of the US to the energy nations. High energy prices taxes the wealthy (large quantities of energy using) western nations in benefit of the energy nations of the emerging world. High energy imports are just a huge structural wealth and prosperity leak on western societies. See the OPEC as energy dealers/pushers and the Western World as the energy addicts, stocked in their habits, daily more downed by there addicts and the problems caused by it. Own renewable energy generation closes this wealth drain. This is the reason that right wing politicians will embrace renewable energy even more and stronger than the left wing ideological drive politicians. Renewable energy is no longer a left or right wing issue. It's just about direct stopping wealth leaks for the right wingers, and about further climate change prevention for the left wingers. Renewable energy is no a longer political flavor bounded issue. It has become common sense. When the US Government should go bankrupted this wealth re-distribution would be turned back severely, because than the US would lose their debts and still will be able to keep their assets. Therefore it's more likely that the financiers of the US Government will push the US Government sometime (when funding governmental debts is no longer possible because nobody would buy new governmental bonds) in a Chapter 11 type of situation, where there supply limited money in trade of huge budget cuts. This would be the fall of the US. A gradually erosion of the US is more likely to be continued, than an instant fall of the dollar. The dollar will erode (at a much more higher rate as oil start be traded also in Euros), but not collapse, because the huge dollar positions holding nations will not shoot themselves in the foot by throwing large volumes of dollars on the market.

Author: Gijs Graafland

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