De-dollarization promises to reorder the world, reducing American power globally<\/p>\n
The US-Israel war on Iran is expensive. It\u2019s expensive in terms of human lives, first of all. It\u2019s expensive too, in pure currency \u2013 about $12bn a week<\/a> for the US. And it\u2019s expensive in how it\u2019s causing the tectonic structures that underpin our global economy to shift. De-dollarization<\/a>, the name given to the process countries undertake in unwinding their reliance on the dollar, promises to reorder the world, reducing American power globally. Its impact will be felt domestically in what we pay to borrow and whether we can afford to borrow at all.<\/p>\n Iran\u2019s near-total blockade of the strait of Hormuz has had a dramatic impact on the prices of oil and natural gas, which puts major inflationary pressure on the economy of every country in the world. Practically, inflation makes people and businesses poorer, a process that reinforces itself if it\u2019s not stopped (which is partly why central banks exist).<\/p>\n Ahmed Moor is a writer and fellow at the Foundation for Middle East Peace<\/p>\n Continue reading…<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" De-dollarization promises to reorder the world, reducing American power globally The US-Israel war on Iran is expensive. It\u2019s expensive in terms of human lives, first of all. It\u2019s expensive too, in pure currency \u2013 about $12bn a week for the US. And it\u2019s expensive in how it\u2019s causing the tectonic structures that underpin our global … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-70662","post","type-post","status-publish","format-standard","hentry","category-blog"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts\/70662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/comments?post=70662"}],"version-history":[{"count":0,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts\/70662\/revisions"}],"wp:attachment":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/media?parent=70662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/categories?post=70662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/tags?post=70662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}