Mercantilism, which forms the main philosophy of capitalism, has not neglected the monetary aspect of imperialism and colonialism. Not only military and political, but also economic empires require large funds. The reserve money empire process, which started with Portugal in the 15th century, moved onto Spain in 1530, the Netherlands in 1640, France in 1720, and the U.K. in 1815, then passing to a new stage with the dollar, which had an eye on the British pound's throne since 1925, becoming the new favorite of capitalism via the Bretton Woods International Monetary System in 1944. While 69 percent of the world's central banks' reserves were gold in 1950, when the Bretton Woods System collapsed in 1974, the same share had fallen to 23 percent at the same time 85 percent of foreign reserves, which accounted for 77 percent of the international reserves of the world, were in dollars. The last 12 years of the Cold War were not good for the dollar, and in 1991, its weight in reserves fell to 46 percent. The new world order had to again follow the empire of the dollar, and the United States managed to increase its own money in global reserves again to 72 percent.
Until the 2008 global financial crisis. The share of the dollar in the reserves of central banks around the world, which fell to 62 percent, has again gone down to 62.8 percent from the 64.6 percent it was in 2014. Moves that both the United Kingdom, which seized the dissolution of its currency in the EU common currency with Brexit, and the EU to render the euro as the reserve currency with the patronage of Germany and France, which do not want U.S. support in security, are considering establishing a common European military. Following the International Monetary Fund (IMF) adding it to its currency basket in 2015, China's moves for the yuan to put it forward as a new reserve currency candidate for the near future give the necessary clue as to where the codes of the global economic war will be concentrated. We have not forgotten where Saddam Hussein and Muammar Gadhafi's moves to realize oil sales with non-dollar currencies and gold brought their countries.
Turkey is carrying out Operation Olive Branch on the verge of a second Cold War era, in a period when clashes concerning a second Bretton Woods monetary system are climbing. Alongside Turkey's political, military and diplomatic successes, the fact that it accelerated trade with economies such as Russia, India, China, South Korea, Indonesia and Mexico and that the percent of global trade conducted with currencies other than the dollar or euro increased signify a great earthquake for capitalism and the reserve money empire. Therefore, Turkey's security operations to bring tranquility, peace and political and economic stability to its borders will also trigger an inevitable transformation in the global trade order.
Turkey's soft power is
the guarantee of the region
Time magazine's selection for the cover of its Feb. 5 issue is "America getting lonely." During the Cold War, U.S. soft power provided freedom and democracy for the whole world and opportunities for immigrants arriving for the American dream. Even though the Vietnam War - whose many scandalous aspects still continue to surface - and CIA operations all around the world seriously damaged the U.S.'s image, it restored its image with soft power in the 1980s and 1990s. With the 2000s, the Afghanistan and Iraq wars, followed by military action in Libya, the many obvious errors during the George W. Bush and Barack Obama presidencies, and now with President Donald Trump, the U.S.'s political, military and economic institutions have reached such a level of arrogance that they do not care to hide their operations or patronizing policies. The intolerance of immigrants, Muslims and all the differences that enrich our world has led to the loss of the U.S. soft power advantage.
Turkey, on the other hand, starting from the Seljuk period, during the Ottoman Empire and the Republican era, has a strong historical background and image based on its soft power in its region, the Balkans, the Caucasus, the Middle East and North Africa, regarding its religious and sectarian freedom and its construction and development. This is why wherever we go in Eurasia and Africa, we are met with enormous enthusiasm and warmth. Turkey continues its struggle with all means at its disposal for a larger region from Africa to Central Asia to attain opportunities for peace and inclusive development with its soft power. All smart states are aware that only Turkey's soft power can bring peace and stability to the region.
The U.S., Germany and other countries' every effort to prevent this opportunity will cause very severe shame for humanity in the near future.
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