The ’Americanized’ Europe is Crumbling towards Bankruptcy and Chaos

By George Haddad

Sofia – Until World War II, old Colonialism has prevailed in the world [excluding the Soviet Union which was besieged and isolated]. Production [i.e. industry and industry-based agriculture] was the center of the colonial system. The metropolitans [European colonial countries] were the "factory of the world”. As for the colonies and semi-colonies that were once called the "Third World”, they were obliged by force to be:

1. Sources of raw materials [crude and agricultural] to supply the metropolitan industry.
2. Markets for metropolitan industrial and agricultural products.

The so-called "price-cutter" was being forcefully imposed on the peoples of the colonial and semi-colonial countries, that is, they were forced to buy the commodities of European countries at high prices [higher than their real value], and to sell their raw materials at low prices [lesser than their real value].

The ruling capitalist classes of the colonials sewed up most of these "surplus" profits resulting from the aforementioned "price cuts" [the price differences]. But it was "waiving" a portion of less or more of those "surplus profits" to increase the living standards of the popular masses in colonial Europe, to anaesthetize them and obtain their support for a colonial policy, and at least make them condone that policy.

The historical consequence of that colonial system was that progress and affluence in the colonial Europe countries happened on the expense of the colonial and semi-colonial peoples of the third world by slaughtering, subduing, humiliating, and starving them.

The Second World War marked a turning point in the previous world order; on the one hand, the former socialist camp emerged, and on the other hand, the old colonial system collapsed due to the revolutions in the colonies and semi-colonies. The former colonial metropolitan countries [which emerged from the war weak and semi-destroyed] could no longer forcefully impose their "production" on the third world. Socialist thought spread like wildfire through the "Third World". A large group that antagonize communism, especially in its economic and social aspects, embraced many groups that were hostile to or disagree politically, religiously and ideologically with communism. Accordingly, a realistic possibility for the global capitalist system as a whole to collapse saw light. But the American geostrategic intervention, militarily, politically, and economically, had blocked this possibility.

Not only did the United States emerge from the war safe and sound having distanced itself from the battlefields, but rather, it emerged wealthier and literally became the "World Bank" for gold reserves and thousands of billions of capital fleeing its countries due to the wars, revolutions, and the collapse of the old colonial system. This accumulation of global capitals in the US led to the emergence of multinational companies and major global capitalist monopolies alongside their Jewish capital nuclei and the adoption of the dollar as the main international currency, as well as the emergence of the World Bank and the International Monetary Fund [IMF] to control the dollar process in the global economy as a whole. This led to a paradigm shift in the global capitalist system, which was to transfer the centre point of the global capitalist economy from "production" to "financing", represented by loans, employment, and investments, which was the basis for the emergence of the new neoliberal system, American globalization, and the so-called "savage capitalism”. Due to these mechanisms, America worked and is still working to dominate the world.

This "paradigm shift" of the world capitalist-imperialist system resulted in the following:

1. The insane increase of the financial sector’s share in the global economy from 5% in the aftermath of World War II to 50% today.
2. Centralizing the global economy around the dollar, i.e. placing it under the mercy of the dollar-printing machine owned by the Jewish financial group that controls the American Central Bank's "governor" called "Federal Reserve Bank".
3. Turning the US, almost completely, into a parasitic state. As American production now represents less than 18% of the American economy, which in turn represents less than 20% of the global economy; whereas – the US – consumes more than 40% of global production.
4. Europe itself, with its rich history, has turned into a US-influence zone. Consequently, Europe became a producer and the US a consumer of its production [and others production] in exchange for a dollar currency, which is constantly losing its purchasing value. This means that Europe gradually lost all the extra wealth it had looted from colonial and semi-colonial peoples for hundreds of years, in just a few decades in favour of the US. And that is to say, Europe is living day to day on its production, which in turn gradually loses its marketing value due to the peg to the dollar that is gradually losing its purchasing value in favour of the American-Jewish monetary monopoly of the dollar.
5. And by seeking to obtain profits in any way, the global American-Jewish monopolistic monetary bloc objectively encouraged industrialization and increased production in what was called the “Asian Tigers”: Japan, Korea, Taiwan, Malaysia, Indonesia, etc., as it “neglected” and also objectively encouraged the overwhelming industrial revival of China that is governed by the Communist Party, whose population is 50% more than the combined population of Europe and America. These countries produced in huge quantities industrial commodities [with international specifications] that are much cheaper than expensive European ones because their labour remuneration is much lower than the "pampered" labour remuneration in Europe. The production of ex-colonial countries made a fierce and deadly competition for European production, whose proportion has shrunk considerably in the world trade.

Finally, under the same general economic laws of capitalism, the inflated balloon of rentier financial capital [interest – speculative] exploded, and the financial-economic crisis in the US erupted spilling over to Europe in 2008. The main cause behind this continues crisis is the explosive collision between the infinite and senseless rise in profits resulting from the fiscal usurious-speculative policy and the limited purchasing power of consumers. The US has been able to partially and interim deal with the consequences of the crisis, thanks to its capacity to print more dollars, which the world has no choice but to "receive" gratefully [!]. As for Europe, it is impossible to do so. Therefore, its situation is worse than that of the US, and it "is solving" the problems resulting from the crisis by inflation, unemployment and lowering the living standard of the European masses.

Meanwhile, the Coronavirus pandemic hit. Whether this pandemic is a form of biological warfare [as US President Donald Trump suggests in his repeated accusations to China], or a "natural" phenomenon as a result of environmental pollution due to the brutality of the capitalist greed system dealing with nature, the economic crisis is quickly and severely making its way into Europe: production is shrinking at a very high level below zero, unemployment is exacerbating, social services are disastrously diminishing, the educational system is collapsing, and prices are skyrocketing.

And if the US presented the "Marshall Plan" to Europe after World War II, to dominate it, then the US today [which is today embroiled in crisis] cannot and does not want to help Europe; but rather it wants, if possible, to overcome its crisis at the expense of Europe.