Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Everybody Wants to Rule the World $USD $CNY

|Includes: WisdomTree Emerging Currency ETF (CEW)

The leaders of these countries: Russia, China, Kazakhstan, Tajikistan, Kyrghyzstan and Uzbekistan will be meeting for two days (June 15-16) in Yakaterinburg, Russia (see map) to create strategies of interdependence that expressly avoid usage of the U.S. Dollar. The reason? Their respective concentrated financial exposure to a recently ridiculously weak currency ($USD) exceeds existing risk tolerance.There is special word to describe a powerful entity that oppresses and controls less powerful entities: hegemony. Loads of places seem to be fed up with answering to and being financially beholden to America. Leadership from Iran, India, Pakistan and Mongolia will attend and monitor the talks.It boils down to this: America has fallen into the classic imperialistic trap. When the financial strength of Roman Empire failed, its foreign outposts and colonies rebelled. At present, there does not appear to be sufficient mental, social or physical space for America in Asia.Suppose all of those countries decide to abandon the U.S. Dollar in favor of the Renminbi $CNY - the most likely candidate going into the meeting. Within 10 years the U.S. will lose approximately half of its financing (nobody will buy Treasury Bonds). Suppose all of those countries conspire to default on payments and dump existing U.S. dollars and bonds entirely. Will the U.S. launch a land war in Asia? A war of debt enforcement and compulsory capital cooperation is too politically (and morally) unpopular for a free nation to rationally consider.Check and mate. The power of the dollar and all things associated with it will fall. How quickly that occurs will depend on the course of action established by the participants of a meeting in Yekaterinburg. If an accord is reached and successfully carried out, the new conglomerate will have assets commensurate to a new world power: oil from Iran, gold from Mongolia, manufacturing and man-power from China, technology and agriculture of India, and military prowess of Russia. Disclosure: The author does not hold a financial position CEW, but that ETF offers exposure to three out of four BRIC currencies (Brazil, Russia, India, China). Want my perspective? The Greeks, the Romans, the British, the U.S. and now EurAsia. Everybody wants to rule the world. Queue the video: