The unipolar dominance of the American Empire has allowed it to command an outsized share of the world’s resources in exchange for green pieces of paper. That dominance, and the dollar’s hegemony, nears its end.
Since the end of World War II, the United States dollar has enjoyed the special status of global reserve currency. Coupled with the economic might of the American system—with its relative respect for property rights and admiration for the entrepreneur—the United States government was a giant on the global stage, not even having a close rival after the fall of the Soviet Union in 1991.
The politicians and bureaucrats who exercised temporary control of this state machinery proved to be very poor stewards of their inheritance, however. The American advantage has been squandered over the ensuing decades. I predict that by 2040 it will be obvious that King Dollar has been displaced, and the unipolar superpower of the United States will be but one player in a multipolar world.
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