Now we know they were lying to us - they simply don't care what happens to the US, they just want to stick it to Russia, and they're failing at that too! LOL.
Posted on 04/02/2023 8:23:14 PM PDT by SeekAndFind
Part of the great devolution of American power is not just related to depletion of military stores and the lack of enlistments for the service, but also our economic power. The latest monetary threat is coming from both East and West and may be the coup de grâce for the U.S. dollar, which has long been the dominant global currency for international financial transactions.
This initiative is a serious concern for American interests. The countries in the BRICS alliance have a combined population of 3.1 billion. That's about 40% of the world's population and 20% of the world gross domestic product (GDP). China is positioned to be BRIC's de facto leader.
If the proposed BRICS currency manages to replace the U.S. dollar, there would be several potential consequences, which include the following.
The Biden administration's main tool to dissuade the world's bad actors from acting on their baser instincts has been economic sanctions. A shift away from the U.S. dollar would cost the nation much of its dominance on the world stage and lessen the impact of such sanctions.
(Excerpt) Read more at americanthinker.com ...
This "new currency" stuff is put out there by those who don't know how the world trades and how the Eurodollar works.
The dummy neocons and Ukrainian propaganda zealots likely have no idea that the destruction of the American dollar as THE WORLD’S RESERVE CURRENCY will mean that we will no longer be able to EXPORT OUR INFLATION. We’ll have to handle our massive structural deficits and large national debt ALL BY OUR LONESOME. And it won’t be pretty for us and our children.
https://twitter.com/thepreparedhom1/status/1642292385563439106
The Prepared Homestead - @ThePreparedHom1
Weekly Recap
1) 🇸🇦 Saudi Arabia enters trade alliance with China, Russia, India, Pakistan, and four Central Asian nations to step further away from reliance on the US dollar.
2) 🇨🇳 China and France complete first LNG gas trade using Chinese Yuan, ending reliance on the US dollar for energy trades.
3) 🇨🇳 China and Brazil to settle trades in their own currencies, ditching the US dollar.
4) Brazil, Russia, India, China, and South Africa (BRICS) are developing a new currency, State Duma Deputy Chairman says.
5) 🇸🇦 Saudi Arabia partners with China to build a Chinese oil refinery for 83.7 billion yuan ($12.2 billion).
6) 🇰🇪 Kenya signs deal with Saudi Arabia and UAE to buy oil with Kenyan shillings instead of US dollars.
7) 🇰🇪 President of Kenya tells citizens to get rid of US dollars.
8) Association of Southeast Asian Nations considers dropping the US dollar, euro, yen, and British pound for local currency financial settlements.
9) 🇸🇻 El Salvador President officially signs bill eliminating all taxes on income, property, and capital gains for technology innovations.
10) 🇺🇸 US Senator Elizabeth Warren launches “anti-crypto” re-election campaign.
11) 🇮🇳 India to settle trade in Indian rupees with certain countries instead of US dollars, Commerce Secretary says.
12) 🇨🇳 Chinese yuan surpasses the euro to become Brazil’s second-largest currency in foreign reserves.
13) 🇺🇸 US government to sell 41,500 #Bitcoin ($1.18 billion) connected to Silk Road, in four batches this year.
14) 🇭🇰 Hong Kong regulators to assist #crypto firms with banking in effort to become a digital asset hub.
15) #Binance and CEO sued by US CFTC over alleged regulatory violations
16) 🇺🇸 US Social Security funds are projected to run out by 2033, Reuters reports.
17) 🇫🇷 5 major banks raided by French authorities in €100 billion fraud investigation
18) 🇺🇸 Former President Trump says President Biden is directly responsible for the bank failures and creating an economic catastrophe that will only get worse.
19) MicroStrategy purchases an additional 6,455 #Bitcoin ($150 million).
20) 🇺🇸 President Biden says the banking crisis is “not over yet.”
21 )🇸🇦 Saudi Arabia agreed to join the Shanghai Cooperation Organization as a dialogue partner. A China led security bloc.
22 ) We learned that the BRICS reserve currency could be potentially backed by gold and other commodities, such as rare-earth elements.
23 ) NATO to fully adopt Finland
24 ) 🇭🇺 Hungary’s Prime Minister states NATO close to decision on sending peacekeeping troops to Ukraine.
25 ) 🇰🇵 North Korea announced they will be sending 50,000 troops to Ukraine to fight along side with Russian troops.
26 ) 🇷🇺 Putin signed decree to conscript 147,000 troops of next 3 months.
27 ) 🇰🇵 Satellite imagery shows increased activity at main North Korean nuclear site.
28 ) Bank deposits fell 126 billion this past week. 225 billion since the banking crisis started.
29 ) Mammals in California and Oregon test positive for H5N1 bird flu.
30 ) 33 tons of gold were withdrawn from JP Morgan vaults this week.
31 ) 4.8 million ounces of silver sold from the COMEX this week.
This has all happened within seven days.
Euro is headed toward failure.
BRICS have already begun trading in other currencies.
India just announced they will trade with other nations in rupee
Will this eliminate the dollar completely?
No. But more than half the world is moving away from using the dollar.
Once they establish a common currency, electronic funds system to replace swift, and banking system capable of independence from the west, it will happen suddenly.
Things are moving in that direction.
Yep...now let's look at how much global debt is denominated in US dollars.
The BRICS efforts are small, not well systematized, and laughable when compared to the US dollar (Eurodollar in their verbiage).
Don't get me wrong. Debt-based money is of Satan, but it is the way it is.
The US dollar will strengthen in the months ahead, like it already has over the last few years.
and who would be controlling this supposed new currency?
Russia, China, or India?
somebody’s gonna wind up ticked off ...
Won't happen. International banks won't allow it.
It has nothing to do with what governments want.
It has everything to do with the power derived behind the current debt-based monetary system.
If other countries moved toward a non-debt money supply then I would be their biggest cheerleader. Crypto isn't it...
I'm talking about each country's Treasury being the issuer of their respective money supply - not backed by the bonds issued by the country, but by the faith and trust of the Treasury.
A hot economy could be cooled by taxing more and destroying the money coming in to lower the amount available.
A cool economy could be stimulated through the creation of public-works projects that would then be spent into the economy through purchase velocity.
Of course, this means that money could only be injected into the economy through the completion of labor (public works, etc) - so would have a natural cap on it that couldn't be exceeded.
Banksters don't want this - they want debt-based money so they can control the future labor (future actions) of others - which is also known as "power".
Power is what this whole charade is all about...
No one should be surprised that the party, the Democrats, who ALWAYS hated this country, has jettisoned our role as the world’s leader...although I didn’t think they’d make it so easy for Russia and China to take our place.
Saudi Arabia would never be allowed into BRICS.
BRICS can be thought of as a coalition of "factory nations". Their economies exists at the pleasure of those buying their products built on slave labor.
Saudi Arabia does not fit this pattern.
Now we know they were lying to us - they simply don't care what happens to the US, they just want to stick it to Russia, and they're failing at that too! LOL.
Let's be clear.
We're diving head-first into global monetary deflation (mixed with price inflation) that hasn't been seen in a very long time. It will make 2008 seem like a calk-walk.
Where did it start? China (and to a lesser extent Russia).
Who's now feeling it on their shores? Europe
Who gets to watch the tsunami approach and wonder at the tides going out?
The United States
Remember those pundits on television who say to "ride out" the market - because it always goes higher?
Japan had its last high on the Nikkei in December of 1989...
Let that sink in my FRiend...
Time will tell
that’s funny, because you Russian shills are the ones always hysterically screaming about sanctions
Completely agree...
Taking advantage of the inverted yield curve while it exists.
“Japan had its last high on the Nikkei in December of 1989...”
Yep, 40,000 back then - and it didn’t even get back to 30,000 until 2 years ago. So 30+ YEARS in the dumps and still a long way to go...incredible!
And people think it can't happen in the good 'ol US of A.
Here's what people need to understand going forward:
Debt-based money means "money" is simply a claim on "debt".
"Debt" is a "promise of future labor" (either your own, or some you have a claim on).
Therefore, "money" is a "claim on the promise of future labor"
Now...
What happen's when "future labor" will never happen? Like in bankruptcy?
It means those clsims for that labor are now worthless.
It means that the "money" supply shrinks by that amount.
It means we are in a cycle of "money" deflation, since it is being destroyed faster than the creation of new debt.
Remember "Cash for Clunkers"?
Ask yourself - "Why would our government be enticing people to take out new debt on a car during a time of monetary deflation?"
Shouldn't they have instead said: "Spend wisely, pay down your debt, etc.?"
No! They did it as a means to pump up the money supply through the creation of new debt. Attempting to keep the deflation monster from feeding on its own tail.
Government backed student loans are another example. It used to be that they weren't easy to get, and could only be spent on specific things like tuition and "room and board".
Now they are simple to get in vast amounts, and can be spent on anything.
Outstanding student loans are now approaching $2 TRILLION dollars - another example of creating debt amongst ignorant people in order to prop up the money supply and keep it from crashing as long as possible.
Sorry for writing War and Peace - but hopefully this helps lay out my thought process of why the US dollar will strengthen and won't be going anywhere...
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