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How the U.S. Buys the World for Free

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Paris (Imran Y. CHOUDHRY) :- Former Press Secretary to the President, Former Press Minister to the Embassy of Pakistan to France, Former MD, SRBC Mr. Qamar Bashir analysis : In the vast theater of global trade, a silent drama unfolds every day: the United States buys real goods and services from across the world, not with hard-earned commodities or gold-backed guarantees, but with paper dollars—printed in abundance, backed by confidence, and accepted globally as the world’s reserve currency.
For decades, this privilege has placed the U.S. in a position of unrivaled economic power. It can run persistent trade and budget deficits without suffering the traditional penalties other countries face, such as currency depreciation or reserve depletion. With over 58 percent of global central bank reserves held in dollars, according to the International Monetary Fund, and more than $7.4 trillion in U.S. debt held by foreign governments, global demand for dollars allows the U.S. to print money and buy real value from the rest of the world. Whether it’s a smartphone from China, oil from Saudi Arabia, or pharmaceuticals from India, the U.S. pays for these tangible goods with freshly minted dollars—costing it virtually nothing beyond the ink and the click of a keyboard.
In addition to its ability to purchase real value with fiat currency, the U.S. has increasingly turned to tariffs as a second revenue stream. President Donald J. Trump’s administration has aggressively imposed tariffs on hundreds of billions worth of imports—primarily from China, Canada, India, the EU, and Mexico. These tariffs, averaging 15 to 25 percent, not only raise costs for exporters but also serve as a powerful fiscal tool for the U.S. Treasury.
However, this economic privilege does not come without backlash. The drive toward de-dollarization—led by countries like China, Russia, and Brazil—is a direct response to the United States’ weaponization of its currency. The U.S. Secretary of State Senator Marco Rubio admitted that if countries stop using the dollar, the U.S. would lose its ability to impose sanctions on them.
The U.S. currently has sanctions in place against countries representing nearly a quarter of the world’s population, including China, Russia, Iran, Venezuela, Cuba, Nicaragua, Syria, and Zimbabwe restricting their ability to trade, causing domestic inflation and a collapse of industrial capacity. In response, many of these nations have begun constructing alternative financial systems, exploring cross-border payment networks independent of SWIFT, increasing bilateral trade in non-dollar currencies and off loading their dollar reserves.
Suppose, in a hypothetical but increasingly possible scenario, major global powers collectively decide to dump their dollar reserves in protest. Let us assume $4 trillion worth of reserves are released into circulation. If the U.S. refuses to buy back these dollars—as it has no legal obligation to do so—the entire burden shifts to open currency markets. The consequences of such a move would be swift and profound.
For the countries dumping dollars, the sudden oversupply would drive down the value of the dollar by 20 to 30 percent. Their own dollar reserves would lose value rapidly, resulting in capital losses of hundreds of billions. China alone, holding over $850 billion in U.S. debt, could see a $250–300 billion wipeout in reserve value overnight. At the same time, their national currencies would strengthen, making their exports more expensive and less competitive, thereby triggering trade slowdowns. Domestic instability and inflationary pressure would follow, especially in emerging economies.
The United States would not be immune to the fallout. As the dollar weakens, the cost of imports would rise sharply, driving domestic inflation to perhaps 5 to 7 percent annually. Interest rates would surge as the U.S. government tries to stabilize its currency and attract debt buyers, dramatically increasing the cost of servicing the national debt. With total federal debt exceeding $34 trillion, even a modest 2 percent increase in rates could cost the U.S. over $600 billion annually in additional interest payments. Financial markets would face severe volatility, and the Federal Reserve would be forced into emergency interventions.
Both sides suffer in this scenario, but the countries dumping dollars would experience the most immediate and severe pain. The United States, due to its institutional, military, and technological advantages, would endure longer. Thus, retaliatory dumping of the dollar would amount to a self-inflicted wound.
A more strategic and potentially sustainable path would be for the world to gradually pivot away from the dollar altogether. In this scenario, over the next decade, countries form a consensus around a new reserve system—perhaps a gold-linked BRICS coin, a central bank digital currency, or a commodity-backed blockchain token. Oil is priced in yuan or a digital euro. International contracts are settled in diversified currency baskets. The reliance on a single nation’s currency would fade, distributing global financial power more equitably.
The consequences for the U.S. would be significant. Losing its reserve currency status would mean losing the exorbitant privilege of paying for imports with printed dollars. Demand for the dollar would contract. Inflation would rise. Interest rates would surge. Government spending would need to be curtailed or financed through real productivity, not limitless debt. Wall Street’s global supremacy would diminish, and American soft power would decline. Yet, for the rest of the world, this could mean a more balanced global trade system, one not subject to the whims of a single national monetary policy.
This raises a deeper philosophical issue: should global trade be conducted based on fiat currencies at all? A more equitable system would measure international trade not in symbolic reserve currencies, but in real economic value. A nation exporting $1 billion worth of steel, for example, should receive $1 billion worth of equally valuable goods or services—not just fiat notes that can be printed or devalued at will. This “value-for-value” model would eliminate the distortions caused by currency manipulation, inflation, and speculation. It would foster genuine reciprocity, reduce inequality, and align global trade with tangible economic contributions rather than geopolitical leverage.
Such a system would require a new global accounting architecture—perhaps enabled by artificial intelligence, digital ledgers, and multilateral oversight. While ambitious, it is not an unreachable ideal. In an age where technology is redefining commerce, communication, and currency itself, transforming how we value trade could be the next step toward a truly just economic order.
So, is the United States looting the world with both hands? Arguably, yes. One hand pays for global goods with fiat dollars backed by trust rather than labor or materials, and the other hand collects tariffs and imposes sanctions on those same suppliers. This system has allowed the U.S. to enjoy unmatched economic privilege while exporting inflation, volatility, and fiscal burdens to others.
Yet retaliation through abrupt de-dollarization would only heighten global instability. A gradual, deliberate creation of a new, multipolar reserve system—paired with a shift to value-based trade—offers a more sustainable path. It promises not only financial fairness but also geopolitical balance, autonomy, and mutual dignity.
Until that transformation is realized, the world continues to subsidize America’s monetary empire—while the United States continues to collect wealth with both hands.

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Photos show charred wreckage from deadly crash of news helicopter in LA

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Investigators have released new photos that show the stark aftermath of a news helicopter crash that killed three people in Los Angeles on Tuesday night.

A scorched aircraft and charred storage container were being examined at the scene of the incident on Wednesday. The collision claimed the lives of NBC photojournalist Eliana Moreno and pilot George Marciniw.

The third victim, a pedestrian, was identified as Edy Gutierrez Mejia, 29, by the coroner’s office.

The National Transportation Safety Board (NTSB), which is leading the investigation into the incident, said a report on the cause could take up to 18 months.

National Transportation Safety Board The National Transportation Safety Board released photos of the aftermath of the Los Angeles helicopter crash that killed three people.

NBC Los Angeles said its NewsChopper4, which also operated for the Spanish-language Telemundo 52, was in the city’s suburb on Tuesday night reporting on a deadly bus crash that had killed two people.

Several other news helicopters were also overhead in the area.

The driver in the bus crash has since been arrested on suspicion of murder.

The cause of the aircraft crash has not yet been determined, officials said. Marciniw was reportedly an experienced pilot.

Mejia, the pedestrian killed when the helicopter came down, was a Guatemalan national who had only arrived in Los Angeles this week, according to NBC News.

Investigators were collecting data at the crash site on Wednesday. The helicopter will be moved to a secure facility, where the NTSB will continue to examine the wreckage.

The NTSB is an independent US government agency that investigates civil transportation accidents.

During a news conference on Wednesday, the NTSB’s investigator-in-charge Fabian Salazar said a preliminary report on the incident would be issued within 30 days.

A final report on the cause of the crash could take up to 18 months to be released, he added.

Asked by reporters about video circulating on social media that appears to show the helicopter’s viewpoint in the seconds before the crash, Salazar said it is so far “probably the most important evidence” for investigators.

In addition to the three people killed, two others were taken to the hospital.

During emotional live coverage on NBC4 on Tuesday night, veteran news anchor Colleen Williams confirmed it was the local news station’s helicopter that crashed.

While news coverage via helicopter is not necessarily unique to Los Angeles, it is more prominent compared to other major metropolitan areas.

LA local news stations regularly break into live programming to broadcast high-speed police pursuits from the air, fly over wildfires and show accidents, protests, and holiday traffic jams in often unscripted, real-time aerials.

Taken From BBC News

https://www.bbc.com/news/articles/cqgmr40kkxveo

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Trump criticises Supreme Court after justices block mail-in ballot restrictions

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The US Supreme Court has rejected President Donald Trump’s plan to restrict voting by mail before November’s midterm elections, in a setback for the White House.

The justices upheld a federal judge’s order that temporarily blocked the US Postal Service (USPS) from moving forwards with new requirements for postal ballots.

Trump called the decision a blow to his political party. “Republicans just got another bad decision from the United States Supreme Court,” the president wrote on Truth Social.

One legal group said in response that the decision would prevent the USPS from “sowing chaos in our elections”.

The ruling is unlikely to be the final word on the matter. Justice Brett Kavanaugh, a conservative, agreed with the ruling, but indicated he might later rule in Trump’s favour as litigation in the case continues.

Trump, who argued the rules would combat electoral fraud, signed an executive order in March that directed the USPS to deliver ballots only to voters on lists of citizens.

Legal challenges argued that the move violated states’ constitutional rights to run elections.

Election officials from 24 Democratic-led states and the District of Columbia also warned that the proposed changes were not ready for implementation and could prevent ballots from reaching voters.

Meanwhile some Republican-led states, including Florida, Louisiana, and Montana, supported the president in court filings.

Justice Kavanaugh wrote in the opinion that there was “at least a fair prospect that the final rule falls within the Postal Service’s statutory authority”. But he argued that “applying the rule in the 2026 elections would be arbitrary and capricious”.

Justices Samuel Alito and Clarence Thomas, also conservatives, dissented. They wrote that the challenge to Trump’s order was a “Hail Mary pass” that was unlikely to be successful ultimately.

In a Truth Social post, Trump criticised the top court’s Monday decision, as well as other key rulings against him such as striking down his executive order to limit birthright citizenship, and also a key element of his tariff policies.

“The Supreme Court has really let our Country down!” he wrote, alleging some justices were “totally unable to show the courage necessary to save our America”.

“These are not the people I interviewed to serve on the United States Supreme Court,” the president wrote.

However, several states like Oregon, Washington, and Colorado rely heavily or entirely on mail ballots for their elections, requiring Republicans to use the system as well.

Seven Republican state election officials warned the justices that allowing significant changes to mail ballot rules so close to the midterm elections would “lead to mistakes, delays, and confusion”.

Local election officials told the BBC this week they were proceeding as normal but had begun drafting contingency plans in case the court upended existing mail ballot procedures.

The rule changes would have resulted in “thousands of people disenfranchised” in Cherokee County, Georgia, its election director Anne Dover told the BBC. The heavily Republican county voted 69% for Trump in the 2024 election, in which about 10,000 of its residents voted by mail, according to Dover.

Monday’s decision earned praise from legal groups who have challenged other aspects of the Trump agenda.

“Today’s Supreme Court decision prevents the US Postal Service from sowing chaos in our elections,” Trevor Potter, president of Campaign Legal Center, said in a statement.

Since returning to the White House, Trump has sought to restrict voting by mail. While he himself has voted by post, he has long claimed this method allows non-citizens to cast ballots and is prone to fraud.

In March’s executive order, the president directed USPS to introduce unique barcodes on postal ballot envelopes.

State and local election officials would also be required to supply information to an online portal about voters who receive mail ballots.

Twenty-three states and Washington DC sued to stop Trump’s order.

The postal workers’ union also said clerks could not be trained in time for the election.

In court filings, the Trump administration maintained the new USPS rules were constitutional.

It said states “cannot choose to use the federal mails to carry out their elections but then insist that their election-related mail is somehow exempt from the Postal Service’s rule-making authority, conferred by Congress”.

Boston-based Judge Indira Talwani imposed an injunction on 4 September blocking Trump’s order. She ruled that implementing the measures close to November’s elections could disenfranchise voters.

Last week, a US appeals court refused to put Judge Talwani’s order on hold.

On Sunday, another federal judge, Judge Carl Nichols, ruled against Trump’s order.

Some states have already begun distributing mail-in ballots ahead of the midterm elections, which will decide which party controls Congress.

Some states that had not yet sent ballots had already printed their election materials, and changing their voting materials would have required starting the process anew.

“Hypothetically, if we did have to implement, it would have a huge impact, and it would be very costly. At this point, we already have our envelopes printed,” Josh Zygielbaum, the Adams County, Colorado clerk and recorder, told the BBC the day before the Supreme Court ruled.

Colorado conducts its elections by mail, and Zygielbaum had been creating contingency plans in the event its voting system had been disrupted.

The Supreme Court decision is not the first setback on postal ballots for Trump.

In June, the justices ruled that states may count ballots postmarked by election day, rejecting the Trump administration’s push to block votes being tallied when they are received after polls close.

Trump has previously made false claims that he lost the 2020 election owing to widespread electoral fraud.

Taken From BBC News

https://www.bbc.com/news/articles/c5yjpdy4gjlo

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Israel and the U.S.: All Set to Starve Iran?

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Paris (Imran Y. CHOUDHRY) :- Former Press Secretary to the President, Former Press Minister to the Embassy of Pakistan to France, Former MD, SRBC Mr. Qamar Bashir analysis : Military strikes, economic strangulation and an open-ended American deployment risk turning pressure on Tehran into collective punishment of ordinary Iranians—and dragging the entire Middle East deeper into war.
The United States and Israel appear to be constructing two arms of the same pressure campaign against Iran. Israel threatens overwhelming military destruction if Tehran again attacks it, while Washington is tightening Iran’s economic isolation and maintaining a formidable military presence across the Middle East.
One attacks the state’s physical capacity; the other squeezes its financial oxygen. Between them stand nearly 90 million Iranian citizens who will ultimately bear much of the cost.
Washington describes its strategy differently. The Trump administration argues that sanctions, blockade and selective military pressure are intended to force Tehran to change its behavior and return to negotiations. Yet the scale and duration of the campaign increasingly raise a disturbing question: at what point does pressure on a government become collective punishment of a population?
Treasury Secretary Scott Bessent has used unusually uncompromising language about America’s economic objective. Washington has launched an intensified campaign against Iran’s international financial and commercial lifelines, targeting shipping, aviation, technology, gold, digital assets and financial networks. Foreign companies and banks dealing with sanctioned Iranian entities face the enormous leverage of America’s dollar-based financial system.
The strategic objective is clear: deprive Tehran of revenue, foreign currency and international commercial access until economic pressure forces political concessions. But economies are not governments.
When oil revenue collapses, ordinary citizens lose purchasing power. When a currency depreciates, food, medicine and imported necessities become more expensive. When companies cannot trade, workers lose jobs. When banking channels close, families and legitimate businesses suffer alongside the institutions Washington actually intends to punish. Economic warfare may produce fewer dramatic television images than missiles, but its human consequences can penetrate every household.
That is why the language of economic strangulation is so troubling. Iran’s leadership may be the declared target, but Iranian families inevitably become part of the battlefield. A pensioner purchasing medicine, a mother buying groceries or a worker trying to support his family cannot isolate himself from inflation, shortages and economic contraction merely because sanctions were designed to influence his government. Meanwhile, military pressure is not disappearing.
Defense Secretary Pete Hegseth has extended major American deployments in the Middle East into 2027. Approximately 50,000 U.S. military personnel and 19 warships remain positioned across the region, supported by fighter aircraft, air-defense systems and other forces. The deployment unmistakably demonstrates that America is preparing for a prolonged confrontation. That creates an extraordinary contradiction.
President Donald Trump speaks about limiting military involvement and relying increasingly upon economic pressure, while the Pentagon maintains the infrastructure required for blockade enforcement, missile interception, protection of commercial shipping and renewed offensive operations. This is not disengagement. It is military readiness combined with economic warfare.
Israel adds another dimension. Israeli leaders have again threatened devastating attacks against Iranian military and other strategic infrastructure. After months of conflict, the danger is that the distinction between military pressure and destruction of the economic foundations sustaining civilian life becomes progressively blurred.
Recent American strikes demonstrate how quickly civilians can become victims even when governments insist that they are attacking military targets. Iranian authorities reported civilian deaths and injuries following the latest U.S. operations, including casualties associated with a reported strike near a wedding gathering. Washington says it does not intentionally target civilians and is investigating that incident. But for the dead and wounded, intention does not reverse the consequences.
The greater danger is what happens if economic strangulation and repeated military destruction continue simultaneously. Iran possesses one of the Middle East’s largest populations. It also occupies perhaps its most strategically consequential geography. The Strait of Hormuz sits beside its coastline, while American bases, Gulf oil installations, shipping routes and some of the world’s largest energy facilities lie within the broader theater.
Iran cannot match the United States conventionally. It cannot match Israel’s combination of advanced aircraft, intelligence capabilities and sophisticated missile defenses. But it can retaliate asymmetrically. That retaliation would not fall primarily upon the American homeland thousands of miles away. It would fall upon the Middle East.
This is the strategic nightmare now developing. If American and Israeli pressure devastates Iran, Tehran may respond by expanding attacks against military facilities, shipping and infrastructure throughout the Gulf. Iran could be destroyed while simultaneously inflicting enormous damage upon neighboring economies. Everybody loses.
The assumption that sufficient suffering will automatically produce a government favorable to Washington is equally dangerous. Iranian history should discourage such confidence. Foreign intervention helped overthrow democratically elected Prime Minister Mohammad Mossadegh in 1953. A quarter-century later, the Shah—Washington’s principal regional ally—was swept away by a revolution that produced a government dramatically more hostile to the United States.
Destroying today’s Iranian state would offer no guarantee that tomorrow’s Iran would be moderate. The opposite could occur.
If central authority fractures, organized government and conventional armed forces could give way to militias, underground networks and radical organizations. A centralized adversary can negotiate, sign agreements and enforce them. A fragmented landscape of armed groups may produce decades of asymmetric warfare. Iraq, Libya, Syria and Afghanistan should have taught the world that destroying institutions is much easier than constructing stable replacements. There is also a moral question America cannot escape.
For generations, the United States presented human rights, civilian protection and international law as essential elements of its global leadership. American influence came not only from aircraft carriers and dollars but from universities, technology, culture, diplomacy, alliances and the belief—sometimes justified, sometimes contested—that American power represented certain universal principles.
That soft power is an enormous strategic asset. Every civilian casualty, every image of devastated infrastructure and every Iranian family pushed toward desperation risks consuming another portion of it. The Muslim world therefore cannot remain a spectator.
Saudi Arabia, Türkiye, Pakistan, Qatar, Oman, the UAE and other influential states should urgently seek an emergency session of the Organisation of Islamic Cooperation. The purpose should not be rhetorical condemnation. It should be the construction of a serious diplomatic initiative demanding both Israel and USA to stop this unfortunate war of choice otherwise face kinetic, economic, investment, trade and diplomatic offensive from all the Muslim states whether small or big.
The Middle East is approaching an escalation trap in which every strike supposedly justifies another strike, every sanction invites countermeasures and every temporary pause becomes an opportunity to replenish weapons and identify new targets. Sooner or later, somebody must interrupt that cycle.
If diplomacy fails and military destruction combined with economic suffocation, history may judge that Iran was not the only casualty. The victims could include regional stability, the global economy, America’s soft power and the possibility of a generation of peace in the Middle East.
The time to prevent that outcome is now—before pressure intended to change Iran ends up destroying far more than Iran.

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