Dollar Hegemony,“Monetary Geopolitics” and the IMF: The Symbiosis between Global Finance and Power Politics | Global Research
Dollar Hegemony,“Monetary Geopolitics” and the IMF: The Symbiosis between Global Finance and Power Politics | Global Research
The following article is part II of longer text pertaining to Hegemonic Currencies and Monetary Geopolitics entitled:
«Money brings honor, friends, conquests and realms» –John Milton
This study is incomprehensible unless one acknowledges that “the management of money is always and everywhere political [and that…] even in the esoteric realm of money, international relations still reflect, to some extent, the interests of powerful states” (Kirshner, 2003).
Along these lines, since Classical Antiquity, there has always been a strong connection between wealth and military power and therefore, in the most simple and direct way, between economics and national security. Not surprisingly, modern times are not so different. (Friedberg, 1991).
Therefore, the trends that rule the behavior of currencies are strikingly similar to those that govern the conduct of national states. They both seek dominance in highly hierarchical and dynamic systems where competition, conflict and confrontation are commonplace. They both gain and lose power and prestige at the expense of one another in zero-sum games (Cohen, 2003). Therefore, “the realpolitik balancing instinct would apply to currency politics as well as geopolitics” (Drezner, 2010).
