US may lose control of world finance due to conflict in Ukraine

PARIS, January 13. /TASS/. The Ukrainian conflict is existential for the United States, which, in the event that friendly European economies become exhausted, will run the risk of losing its grip on world finance, French historian and anthropologist Emmanuel Todd said in an interview with Le Figaro. In his commentary, he recalls a piece of analysis offered by Professor John Mearsheimer, of the University of Chicago, who argued that whereas for Russia this conflict was "existential," for the United States it was just another game among other countries, and that victory or defeat in it would be of little importance to the US. "But this analysis is insufficient. [U.S. President Joe] Biden now has to hurry. America is fragile and the Russian economy’s resistance is pushing the US imperial system towards the abyss. Nobody had expected the Russian economy would be able to withstand the ‘economic power’ of NATO," Todd said. He is certain that the United States is in a phase of long-term decline and, against the backdrop of its waning influence in the world, it has decided to press for greater influence in its "original protectorates," acquired after World War II, in other words, Europe and Japan. Against this background the European economy’s collapse, the expert notes, is fraught with great risks for the United States itself. "If the Russian economy offers long-term resistance to sanctions and manages to bleed the European economy white and manages to survive with Chinese support, US monetary control of the world will collapse, and with it, the US’ ability to finance its mammoth trade deficit for next to nothing. This war has become existential for the United States. It cannot get out of the conflict before Russia. They cannot let go. This explains why we are now in an open-ended war, in a confrontation that is bound to result in the collapse of one side or the other," Todd says.

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