By F William Engdahl
''Rather than work out areas of
agreement with European partners, Washington increasingly sees Euroland
as the major strategic threat to American hegemony,
especially 'Old Europe' of Germany and France. Just as Britain in
decline after 1870 resorted to increasingly desperate imperial wars in
South Africa and elsewhere, so the United States is
using its military might to try to advance what it no longer can by
economic means. Here the dollar is the Achilles heel.
With creation of the Euro over
the past five years, an entirely new element has been added to the
global system, one which defines what we can call a
third phase of the American Century. This phase, in which the latest
Iraq war plays a major role, threatens to bring a new, malignant or
imperial phase to replace the earlier phases of American
hegemony. The neo-conservatives are open about their imperial agenda,
while more traditional U.S. policy voices try to deny it. The economic
reality faced by the dollar at the start of the new
Century, defines this new phase in an ominous way.''
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