The illusion of Western liberal rules-based order was already shattered when the US confiscated $300 billion of Russia’s foreign reserves in 2022.

Everyone back then said “the trust of the dollar has been broken”, nobody’s going to trust the US again. That’s completely correct, and what has been unveiled instead is that US imperialism is never run on “trust” or “rules”, but on coercion.

So, guess what, nearly three years later, the foreign treasury holdings in the US has reached an all-time peak in 2024 at $8.5 trillion! Despite the blatant “stealing” of Russia’s foreign reserves, foreign countries still continue to buy US treasuries like it is the most precious asset in the world.

The dollar hegemony remains unbroken because there is no alternative to the dollar system, and as long as there is no alternative and challenge to it (to be fair, the Europeans tried, and look how the US properly disciplined the EU), everyone will have to play by the rules set by the US. There is no Soviet Union to save us this time.

it could shatter the entire Western order. Not because Canada could resist the USA, but because it would break the very foundations many people believe the Western world is built upon.

Yes. The primary argument in favor of NATO and US imperialism in the Eastern Europe is "protection". When the US becomes the invader of a Western country, this facade breaks.

Yeah. It's really bleakly depressing, isn't it?