US ‘Empire of Debt’ will go to war to stop emergence of petro-yuan – Max Keiser

RT has the interview US ‘Empire of Debt’ will go to war to stop emergence of petro-yuan – Max Keiser.

Countries worldwide are tired of funding the America’s “military adventurism by being a party to the ‘Empire of Debt,’ as it’s known around the world – the US dollar,” and therefore, will likely join the de-dollarization movement, Keiser said.

I think Keiser is correct about most of what he says. I would be very wary of his brief remark about crypto-currency. He seems to be a big fan of crypto-currency erroneously in my opinion. Here is a recent post The Lunacy of Cryptocurrency that is more in line with my thoughts on the subject.

There may be one possibility for crypto-currency that is worth keeping in mind. The proponents of Modern Money Theory state that what gives fiat currency its value is that governments that produce such currencies create demand for them by insisting that taxes can only be paid with that currency. At the moment, crypto-currencies have no similar mechanism to give them value. If, however, some sellers of oil demanded to be paid in a crypto-currency, this could give legitimate value to the chosen crypto-currency.

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