By Neenah Payne
Growing BRICS Spells Imminent End of US Dollar explains that the five current BRICS nations (Brazil, Russia, India, China, and South Africa) are now being joined by a growing number of nations in the Global South. These include Egypt, Argentina, Iran, Indonesia, Saudi Arabia, Nigeria, Thailand, Senegal, Turkey, and United Arab Emirates. Reportedly, Mexico and Japan may apply to join as well. Now, 70% of the world’s population that used to use the dollar is moving toward the BRICS currency, initially the Chinese yuan.
US Dollar/Middle Class In Big Trouble
Warning! The US Dollar IS IN BIG TROUBLE! | Gerald Celente
The US Dollar is in big trouble and today’s guest shares why. Gerald Celente Sits down with Stephen Gardner to talk about the US dollar losing value, commercial real estate imploding, gold rising in value, the Biden administration, Russia Ukraine war, and banks failing. Check out http://www.trendsjournal.com to learn more.
Middle Class To Be Crushed As BRICS Nations Move Away From US Dollar, Says Bitcoin Bull Robert Kiyosaki
Rich Dad Poor Dad author Robert Kiyosaki thinks US President Joe Biden is “crushing the middle class” as US political and macroeconomic policies drive de-dollarization around the world. Kiyosaki says in a new interview with London Real that Saudia Arabia is joining the BRICS group of nations due to Biden’s decision to pull US troops out of Afghanistan in 2021.
BRICS is an economic alliance that stands for the countries of Brazil, Russia, India, China and South Africa. Kiyosaki predicts that 70% of the world’s population will eventually be using a gold-backed Chinese yuan as their main currency via the BRICS alliance, which he thinks will make the US dollar “toast.” Last month, the author predicted that the US is headed for an economic recession and argued that investors should be allocating to Bitcoin (BTC), gold and silver.
China Uses Yuan For Gas Deal For First Time
‘Petrodollar’ at risk as TotalEnergies sells LNG to China in yuan
Chinese and French energy companies this week finalised the first-ever deal on liquified natural gas (LNG) in China settled in the renminbi yuan currency. The trade, involving 65,000 tons of LNG imported from the United Arab Emirates, marks a major step in Beijing’s attempts to undermine the US dollar as universal “petrodollar” for gas and oil trade.
Yu Jin, the general manager of the China National Offshore Oil Company (CNOOC,) which closed the deal with TotalEnergies, says global resource procurement based on the yuan could “promote the globalisation of energy trading and build a more diversified ecology.” Guo Xu, chairman of the Shanghai Petroleum and Natural Gas Exchange which facilitated the deal, was quoted by the state-controlled China Daily saying the transaction promoted “multi-currency pricing, settlement and cross-border payment”.
He says China is a major player in the global LNG market, adding the “financial infrastructure of cross-border yuan settlement” would provide “more convenient channels for domestic and international oil and gas resources”. French economic daily La Tribune reported that TotalEnergies “simply explained that this unprecedented yuan transaction was ‘a request from CNOOC’ in a hydrocarbon market where purchases have long been settled in dollars.” Neither TotalEnergies nor CNOOC wanted to comment in detail on the deal, according to the paper.
For years, Beijing has been striving to increase the relevance of its currency in the global markets and challenge the dominance of the US dollar in international trade, particularly in energy trade. In a landmark visit to Riyadh last December, Chinese President Xi Jinping suggested that China and the Arab Gulf nations should use the Shanghai Petroleum and National Gas Exchange as a platform for carrying out yuan settlement of oil and gas trades.
“China will continue to import large quantities of crude oil from Gulf countries, expand imports of liquefied natural gas, strengthen cooperation in upstream oil and gas development … and fully use the Shanghai Petroleum and National Gas Exchange as a platform to carry out yuan settlement of oil and gas trade,” according to Xi, quoted by Reuters news agency.
Despite the yuan making inroads in global trade, currently it only accounts for 2.7 percent of the market, while the US dollar’s share is 41 percent. It must be emphasized how historic this is: For decades, virtually all energy from the Persian Gulf was sold in dollars. Now China is buying LNG from the UAE in its own currency, yuan.
To reduce its dependence on the greenback, Beijing has already struck deals with countries such as Russia and Brazil. Over the past year, Russia has shifted to trading in yuan after the West imposed sanctions on its exports, imports, and energy trade, making the Chinese currency Russia President Vladimir Putin’s only alternative to reduce exposure to the US dollar and the euro.
On Wednesday, during a visit by President Luiz Inácio Lula da Silva to Beijing, China and Brazil announced an agreement for trade between the two countries to be exclusively conducted in the yuan and the real, Brazil’s currency.
The video below explains that the US opened Pandora’s box when if froze Russian dollar-denominated assets because it alerted other countries that if they hold dollars, they could be caught in the crosshairs. So, sanctioning Russia weaponized the dollar and backfired on the US.
BRICS Currency Launch Confirmed – (Dedollarization & Silver)
Biden’s International Gaffes
Biden Makes Eye-Opening Gaffe in Ireland – Manages to Insult an Entire Country with “Black and Tans”
The Biden 10-Step Plan For Global Chaos is by Victor Davis Hanson, a distinguished fellow of the Center for American Greatness and the Martin and Illie Anderson Senior Fellow at Stanford University’s Hoover Institution. He is an American military historian, columnist, a former classics professor, and scholar of ancient warfare. He has been a visiting professor at Hillsdale College since 2004. Hanson was awarded the National Humanities Medal in 2007 by President George W. Bush. He is the author most recently of The Second World Wars: How the First Global Conflict Was Fought and Won, The Case for Trump, and the recently released The Dying Citizen.
Hanson explained on 4/14/23:
“Our enemies do not fear us, our allies judge us unreliable, and neutrals assume America is in descent and too dangerous to join.
Why is French President Emmanuel Macron cozying up to China while trashing his oldest ally, the United States? Why is there suddenly talk of discarding the dollar as the global currency? Why are Japan and India shrugging that they cannot follow the United States’ lead in boycotting Russian oil? Why is the president of Brazil traveling to China to pursue what he calls a ‘beautiful relationship’?
Why Is Israel suddenly facing attacks from its enemies in all directions? What happened to Turkey? Why is it threatening fellow NATO member Greece? Is it still a NATO ally, a mere neutral, or a de facto enemy? Why are there suddenly nonstop Chinese threats toward Taiwan?
Why did Saudi Arabia conclude a new pact with Iran, its former archenemy? Why is Egypt sending rockets to Russia to be used in Ukraine? Since when did the Russians talk nonstop about the potential use of a tactical nuclear weapon? Why is Mexican President Andres Manuel Lopes Obrador bragging that millions of Mexicans have entered the United States, most of them illegally? And why is he interfering in U.S. elections by urging his expatriates to vote for Democrats?
Why and how, in just two years, have a confused and often incoherent Joe Biden and his team created such global chaos?
Let us answer by listing 10 ways by which America lost all deterrence:
1. Joe Biden abruptly pulled all U.S. troops from Afghanistan. He left behind to the Taliban hundreds of Americans and thousands of pro-American Afghans. Biden abandoned billions of dollars in U.S. equipment, the largest air base in central Asia — recently retrofitted at a cost of $200 million — and a $1 billion embassy. Our government called such a debacle a success. The world disagreed and saw only humiliation.
2. The Biden Administration allowed a Chinese high-altitude spy balloon to traverse the continental United States, spying on key American military installations. The Chinese were defiant when caught and offered no apologies. In response, the Pentagon and the administration simply lied about the extent that China had surveilled top-secret sites.
3. In March 2021, at an Anchorage, Alaska mini-summit, Chinese diplomats unleashed a relentless barrage at their stunned and mostly silent American counterparts. They lectured the timid Biden Administration diplomats about American toxicity and hypocrisy. And they have defiantly refused to explain why and how their virology lab birthed the COVID virus that has killed tens of millions worldwide.In June 2021, in response to Russian cyber-attacks against the United States, Biden meekly asked Putin to at least make off-limits certain critical American infrastructure.
4. When asked what he would do if Russia invades Ukraine, Biden replied that the reaction would depend on whether the Russians conducted a “minor incursion.”
5. Between 2021 and 2022, Joe Biden serially insulted and bragged that he would not meet Muhammad bin Salman, the de facto ruler of Saudi Arabia, and one of our oldest and most valuable allies in the Middle East.
6. For much of 2021, the Biden Administration made it known that it was eager and ready to offer concessions to re-enter the dangerous Iran nuclear deal — at a time when Iran has joined China and Russia in a new geostrategic partnership.
7. Almost immediately upon inauguration, the administration moved the United States away from Israel, restored financial aid to radical Palestinians, and both publicly and privately alienated the current Netanyahu government.
8. In serial fashion, Biden stopped all construction on the border wall and opened the border. He made it known that illegal aliens were welcome to enter the United States unlawfully. Some 6-7 million did. He reinstated “catch and release.” And he did nothing about the Mexican cartel importation of fentanyl that has recently killed over 100,000 Americans per year.
9. In the last two years, the Pentagon has embarked on a woke agenda. The army is short by 15,000 in its annual recruitment quota. The defense budget has not kept up with inflation. One of the greatest intelligence leaks in U.S. history just occurred from the Pentagon.
10. The Pentagon refused to admit culpability and misled the country about Afghanistan and the Chinese spy balloon flight. The current chairman of the Joint Chiefs of Staff called his Chinese communist counterpart and head of the People’s Liberation Army to advise him the U.S. military would warn the Chinese if it determined an order from its commander-in-chief Trump was inappropriate.
This list of these self-inflicted disasters could be easily expanded. But the examples explain well enough why our emboldened enemies do not fear us, our triangulating allies judge us as unreliable, and calculating neutrals assume America is in descent and too dangerous to join.
Neenah Payne writes for Activist Post
Top image: A.F. Branco art/Creators.com