Posted on 07/19/2023 3:58:09 AM PDT by RomanSoldier19
Greenback weaponization prompting efforts to likely introduce new currency
A potential world-changing financial event is on the horizon next month.
The nations that make up the BRICS — Brazil, Russia, India, China and South Africa — reportedly plan to introduce a joint currency backed by gold when they meet for their summit on Aug 22-24 in Johannesburg.
The BRICS venture underscores an effort to "de-dollarize" amid concerns over Washington's ability to "weaponize" the greenback through economic sanctions.
(Excerpt) Read more at global.chinadaily.com.cn ...
King Dollar won’t fall overnight.
“The nations that make up the BRICS — Brazil, Russia, India, China and South Africa — reportedly plan to introduce a joint currency backed by gold when they meet for their summit on Aug 22-24 in Johannesburg. “
The Neocons/Globalists had OPTIONS after they got the Ukraine War started - sadly for Americans and Europeans they chose the one option that would DESTROY their Globalist Empire and the high living standards came with it - which was Suicide Sanctions against Russia (particularly cutting Russia off from SWIFT). Now the days of the US running the world are quickly closing.
Options that the Neocons/Globalists COULD HAVE taken include opening up the US/European economies by jettisoning the Green New Deal, rather than doubling-down on it, and also working to quickly end their Ukraine War with a peace deal.
So now our national debt and many other problems will quickly come due.
“King Dollar won’t fall overnight.”
It will probably take 2 or 3 years, long enough for the Dems to steal the next (and last) election here.
It will take quite a while if it works.
Flipping the Swift switch sent a message to the world though.
We live in interesting times…
Yeah. Don’t panic. We have some time but prepare for the inevitable. Great Britain didn’t collapse when they lost status with the Sterling.
What I want to know is organized crime will not work well with digital economy
They’ve got a plan I would think.
There’s always weapons, drugs, real estate, young women, barter, cash, gems, precious metals, and dark web activities.
“They’ve got a plan I would think.”
Their plan appears to be to take Russia down, and then take China down. The problem is that China is FAR TOO STRONG for us to swat away - our window for China ended in the early 1990s,if even that. For Russia, we had a strong Cold War military, probably would have made sense to keep it intact, rather than gutting it, if the plan was to take on Russia.
Oh well, the Neocons are learning the hard way that it’s MUCH HARDER to roll large, strong, countries, than little, puny, countries like Serbia, where you can just bomb the crap out of them if they get pesky.
Like anything, the devil is in the details. Russia has significant gold ore. But how would that translate into a BRICs gold dollar? Each country would need to pay Russia for its gold and processing in their own currency. Is Russia going to do this out of the goodness of their heart? No, it will be sold at retail. Then, Russia will need to turn the foreign currency into products. Only the country of origin will really accept the currency back and again, that will be a retail transaction. So, you already have two profit transactions on the same currency. This is as opposed to one country making a gold backed currency all by itself. The next problem is the countries Russia will trade with have little to offer the Russians, meaning the countries will need to use their currency to trade for something from the West that Russia needs…another retail trade. Now, the BRIC country has some gold backed currency which already has several retail add-ons to it. They use it to buy something, but that something is being bought with a currency that is already “inflated” by the transactions necessary to create it. To make this worthwhile the BRIC gold dollar needs to trade at or below its gold value. We already see that can’t happen. Also, the BRIC currency requires that Russia deposit the gold someplace not in Russia. I doubt anyone will accept the BRIC gold dollar unless the gold is on deposit someplace. What is the difference between this and Russia just paying in gold? And why would Russia go through all these steps to create something that we’ve just demonstrated is not as valuable as just paying for something in gold?
Russia will be the only one to profit by this.
I know the Neocons have a plan, some succeeding, some failing.
My post was a reply to a post about organized crime and digital economy.
I appreciate the post though.
True. But London is still considered a financial capital of the world. Adjustments will be made. We won’t become Zimbabwe.
All thanks to the despicable “Democratic” Party and the perfidious Neocons.
That's bad news for...
Clowns In America and the FIB
Russia, number 2 in the alliance, has not defeated Ukraine after 17 months of war. Unless they can turn the war around, Russia will be encircled by hostile powers to their west, except Belarus. The Baltic Sea is a NATO lake with Finland and possibly Sweden in the alliance.The Western boycott has been ineffectual, but Russia remains a de facto Third World country, dependent on mineral and agricultural exports, except they now sell to China and India instead of Europe.
India is a rising power, with a freer economic system than China and less of a police state. While there are Hindu fundamentalists who want to ban rival religions, the Indians have far more liberty than the Chinese. India and China have clashed in the Himalayas, with the Indians doing well in the skirmishes. Plus India has strong ties with Britain due to two centuries of colonial rule. The U.K. has a Prime Minister of Indian ancestry. A prolonged Indian Chinese alliance seems improbable.
The BRICS alternative currency is not a sure victor over the dollar.
With a fiat based currency and Central Bankstering system, when PMs become king, the national "debt" goes POOF!
We've NEVER paid a plug nickle of principle into the debt, never will, so why do so when it falls?
[Grace Commission, never paid any principle into Natl Debt, only interest]
FED/IRS can and will go pound sand.
I’d say a decade before the US degrades to post-war Britain.
But the process is ongoing.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.