Posted on 08/22/2023 7:17:18 AM PDT by beejaa
Tomorrow the U.S. dollar is put on notice as the BRICS nations come together in South Africa for their first face to face meeting since the start of the pandemic. More than 40 countries are vying to join BRICS as they take aim at the U.S. dollar. Putin and China are officially upending the unipolar order.
(Excerpt) Read more at youtube.com ...
The video is 11:57 minutes long.
They’ll come crawling back
“They’ll come crawling back”
Why? We have nothing to offer them but a fiat currency that’s $32 trillion in debt while raking in 55% of everyone’s income. We are so fiscally mismanaged we are a joke. No corporation could sustain this level of mismanagement without having to declare bankruptcy.
Let China try to exist on the business from these other countries vs the business they get from the US. China is forced to deal in US dollars and so is India
The BRICS have a reasonable concern - the US Dollar has become a weapon of the US deep-state. Americans at home should realize this too, as the Left is racking up debt to buy/maintain woke social programs and political stability in the USA. Ultimately, that will be the US dollar downfall
But at the same time - NO ONE today wants to hold their wealth Rubles, Yuan, Real, Rand - even their own citizens. Those currencies are subject to strict controls and political whim in each of those countries.
The US Dollar is still the best option in a dirty, fallen world.
The BRICS realize this. What I think they will do is create some swap, or gold-settlement mechanism for trade among themselves. They will price their trade in US Dollars, but not settle accounts in US Dollars. Rather they will use gold, or some kind of clearing-house of their local currencies. They will go slow, and do some trials, and continue to study it.
The primacy of the US Dollar is not going to change very soon.
Fitch agrees. It downgraded the U.S. credit rating due to the level and trajectory of federal debt.
It’s a strawman.
The BRICS aren’t going to ‘create a new currency’. They are going to use Gold for trade reconciliation.
It is true (however) that the BRICS will have reduced use for the dollar.
“Putin and China are officially upending the unipolar order.”
I look forward to seeing the disappointment of the anti-American brigade as this scheme continues to fail.
What do we really get by being the common currency? Especially in this modern world where all the money is just 1s and 0s in computers? Feels to me like when French was the language of diplomacy, other than the ego boost France didn’t really get anything for that. Big international purchases happen every day and while they might talk and negotiate in dollars they probably aren’t really using dollars. And I think it’s kind of funny that BRICS has been around as long as it has and none of us paid any attention to it all the way up until they said “we need our own money”, now it’s a panic.
One downgrade I can see as it happened before. We are totally screwed if they downgrade soon again. That said, I expect another downgrade soon because nothing is trending to the positive. Our debt increases, our spending increases, our taxing increases, our production decreases.
BRICS is going no where... ...just smokes and mirrors
The asset management companies (including BlackRock, VanGuard, BlackStone, JP Morgan Chase etc.) own $92.38 Trillion Dollar assets priced in US Dollars, and the global GDP is $96.51 Trillion
These asset management companies own most of the assets in BRICS countries.
It’s just a drama, between the empires (USA, China, Russia, Europe, India, Brazil etc.) to fool the masses. They are all in cahoots with each other.
“They’ll come crawling back”
Had the left not turned the country into a nation of fear mongers, irresponsible gimmidats, faggots, and nutjobs I would agree. As things are now I can only see the rest of the world running far and fast away. Who would want anything to do with such misguided policies?
This is why Ukraine and other Neocon belligerence. It is “endgame” for them and they know it. Too much data out there about their assets and operations. It’s the age of info and it’s killing them, they are in a panic.
The only way BRICS succeeds is if they create a gold-backed currency with the possible ability to trade the currency for gold. Without this it’s unlikely BRICS will be a realistic challenge to the dollar.
About 11 minutes, 27 seconds longer than the average voter’s attention span. This is why we lose time & again.
—> These asset management companies own most of the assets in BRICS countries.
Exactly why the BRICS are creating an alternative financial system - to be free. When they have banking, financial transfer, etc., they can nationalize their resources, renounce their debt, and be free.
The incentives are extremely large for them.
I’m not a financial expert so I’ll just wait and see how this goes.
I understand that this is something that should be acknowledged, but.....
South Africa
MALEMA SINGING KILL THE BOER DURING AFRICA DAY CELEBRATION RALLY .... https://www.youtube.com/watch?v=6vjb0w67PZ8 they’ve been killing the white farmers and taking their land for a while now. SAs government is about as corrupt as any in the world. I’d say Top 10, at least. The worse the economic conditions get there, the more support Malema gets as he tells people that all the answers lie with killing whitey.
https://www.washingtonpost.com/business/energy/why-south-africas-in-a-state-of-disasterover-power-crisis/2023/02/10/0b80f77c-a930-11ed-b2a3-edb05ee0e313_story.html...I know it’s behind a paywall, but the title speaks for itself. Things haven’t got any better and now they think windmills and solar are going to save the day...ha ha ha ha
Brazil....being run by a corrupt, lying, ex-con, who is running the country into the ground, who won by massive fraud....sound familiar
Russia....time will tell because it doesn’t appear that they sanctions or their war are having the negative effects Biden and his fools thought it would.
India....hmmmmmmm, they’re economy is so strong that they still feel the need to flood the US with workers, stealing jobs from American’s. Anyone care to tell me, as I do not know, what its main export is other than mediocre IT folks and owning Dunkin Donuts and Holiday Inn’s?
China....China will disappear in 10 years- Joe Rogan https://www.youtube.com/watch?v=GfG2yDOpAjo
https://www.cnn.com/2023/08/21/economy/china-economy-troubles-intl-hnk/index.html
https://www.reuters.com/world/china/why-is-china-not-rushing-fix-its-ailing-economy-2023-08-17/
https://www.cnn.com/2023/08/17/business/evergrande-files-for-bankruptcy/index.html
https://www.nytimes.com/2023/05/15/world/asia/china-africa-miners-wagner.html
https://www.asianews.it/news-en/Tajik-workers-revolt-against-Chinese-’slave-owners’-52581.html
Add to all of that a growing number of countries, mainly in Africa, that are done with China, its debt traps and the Chinese workers that take jobs.
So, should it all be ignored? Nope. But lets look at the players. 3 of the 5 can’t get out of their own way.
Saudi talks about it as a way to give the finger to Biden and Blinken.
BRICS haven’t risen to unseat us so much as the US and the West have fallen, through colossal unforced errors, to a level where it can be supplanted.
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