Rubio explains the workings of the new Colonialism.

AS A FORMER COLONY WE SHOULD KNOW BETTER 

I SUSPECT THIS POLICY WILL HAVE MAJORITY SUPPORT

Marco Rubio testified at a Senate hearing yesterday, he proudly explained the plan for the colonization of Venezuela. This was indeed a revelation as to how low the United States has descended in its policy with other countries. While this is happening in the current administration, I suspect this has been the goal for some time.

Rubio explained that the U.S. will continue to embargo Venezuela by Sea, but will allow it to sell oil at an undiscounted price. The revenues from this oil will be deposited into the Federal Reserve bank in New York and Venezuela may request remittances to cover the cost of essential goods and medical supplies. All purchases by Venezuela must be made from the United States, including distillates that are needed to thin  crude to allow transport. Venezuela may only sell oil to approved customers but never to Russia, China, Iran or any other country not favored by the U.S.. It cannot purchase anything from any country except the U.S.  This is reminiscent of the policies of the British Empire when the former United States was one of its colonies.

While I don't know the details this is a similar arrangement with Iraq, all it's oil revenues are deposited in New York and they must beg for remittances to run their country. This has been going on in Iraq for 20 years, and one expect it will continue as long as there is oil, Venezuela should expect the same.

One must wonder if this is the ultimate plan for Iran, give up your sovereignty, disarm and allow your oil to be managed by the U.S. and possibly Israel.

While at present, this is made possible by a large and well funded military, mostly funded by debt and a diminishing in value dollar, it may soon no longer be possible. In business, there is something called "Good Will" , the image that a business has with its customers, it is very valuable. I suspect that "Good Will" toward America is going to drop like a brick, particularly with former colonies like India, China and the whole of Africa. Of course we could care less, after all, we are greatest and the most formidable military in the world. 

So far, the only real push back has been Russia, but most have been restrained and measured in their dealing with the U.S. knowing that they can be subjected to sanctions "economic statecraft" a nice word for economic warfare, or outright military force. Now that the goals and strategies are becoming more transparent, we can expect an escalation in in-kind economic statecraft from many places. The day will come when this country may very well need its most valuable asset of "Good Will" by others, I fear there is very little left.