Prelude to the present crisis: the US and the weaponization of global finance, 2018-19

Abstract

: Mainstream pundits and media commentators saw the crisis in US-Turkey relations and the collapse of the Turkish currency in the crucial 2018-19 juncture as a result of Turkey’s refusal to hand over to the US an American Evangelical priest. The analysis here shows that the roots of the conflict in times of crisis contexts, uncertainty and hegemonic instability, go far beyond political epiphenomena. They involve the weaponization of the US Treasury in the service of global power politics.

Keywords

• financialisation
• globalisation
• hegemonic transition
• quantitative easing
• quantitative tightening