Posted on 06/18/2023 1:01:32 PM PDT by EBH
A growing number of countries are coming forward to join BRICS and accept the new currency for global trade. The South African ambassador Anil Sooklal hinted that the alliance could expand this year becoming BRICS+. The move could add pressure on the U.S. dollar as developing nations would end their reliance on the greenback. The global financial order could tilt from the West to the East creating a new multipolar economy.
According to the latest report, the BRICS alliance has formally received applications from 25 countries to join the bloc. The 25 nations that expressed their interest to join are Afghanistan, Algeria, Argentina, Bahrain, Bangladesh, Belarus, Egypt, Indonesia, Iran, Kazakhstan, Mexico, Nicaragua, Nigeria, Pakistan, Saudi Arabia, Senegal, Sudan, Syria, the United Arab Emirates, Thailand, Tunisia, Turkey, Uruguay, Venezuela, and Zimbabwe.
The list includes oil-rich nations that send millions of barrels of oil and gas to the U.S. and Europe. They stand at a pivotal point and could demand payment with BRICS currency and not the U.S. dollar. The move could send the developed Western economies into a tizzy and realign the global geopolitical system.
The BRICS alliance consists of five countries Brazil, Russia, India, China, and South Africa. Therefore 30 countries are now participating to dethrone the U.S. dollar from its global reserve currency status through BRICS entry.
If all these countries trade with the BRICS currency ending reliance on the U.S. dollar, the greenback could be hit. The United States will find no means to fund its deficit and the economy could begin to crumble.
A handful of sectors in the U.S. could be affected and lead to job cuts in the long run. Read here to know the full list of financial sectors that are at risk with the formation of BRICS currency that could lead to the demotion of the U.S. dollar.
Sounds like a great move, trade all your dollars for a currency based on the economies of Afghanistan, Algeria, Argentina, Bahrain, Bangladesh, Belarus, Egypt, Indonesia, Iran, Kazakhstan, Mexico, Nicaragua, Nigeria, Pakistan, Saudi Arabia, Senegal, Sudan, Syria, the United Arab Emirates, Thailand, Tunisia, Turkey, Uruguay, Venezuela, and Zimbabwe.
Mexico? Really? Those cartel boot licking pos want to ditch the dollar really? Ha ha ha show biz, pure show biz.
You misspelled "commodities"
The Sauds push Biden around like he’s a ragdoll with stuffing falling out.
The Reserve currency issue is one of many reasons we need a Trump/DeSantis ticket... but it might be the most important issue.
The author is an idiot, most all USA debt is owed to Americans.
Us old farts are being screwed,
by Democrats elected by our kids and Grandkids.
I agree … economically-speaking, China and Mexico will be the hardest hit.
Where will they sell their goods when Americans can no longer afford them?
Times will be rough here, no doubt, but we will just start building our own stuff again. Those two economies will be destroyed…..
Gold. Something our banker overlords took away from us.
Long standing conspiracy theory comes true.
Chinese Communists planned this to weaken the US.
They started buying oil without US dollar backing and the oil countries accepted the deals last year.
There won’t be a different Reserve Currency. There just won’t be one. Only gold and barter.
I disagree.
Does reserve currency status really matter as long as the yuan is linked to the dollar?
What happens to Chinese goods imported to the US if the yuan was allowed to float against the dollar … which is implied if the dollar loses reserve currency status?
How much of China’s economy is dependent upon trade with the US?
Looks like some countries are about to get a little “democracy”.
The major BRICS powers have diametrically opposite currency needs. Tight money vs easy money. Value vs. Inflation.
Look how the Euro divides the EU.
Aren’t the Chinese linking the yuan to the dollar along a ratio of 6-8 to 1?
If that’s the case, isn’t the dollar the currency underlying the yuan?
All that talk about oil being traded without the dollar is mere talk … of no economic consequence.
Carter and Obama were nothing compared to the Biden Regime...
... Turn off their markets, turn off their access to technology and see how smart they are then.
The G7 and its western European orbit nations are still 70% of global commerce. Still 95 percent of inventions. Still the financiers.
Those Marxist and muslim wannabes couldn’t develop meaningful functional economic systems over the last hundred years. The next hundred will be the same especially if they rely on the technology Marxist parasite, China.
Marxism couldn’t invent anything, nor could islam.
They never developed the infrastructure that the Christian west did.
And, they never had a Duke.
No. They want to trade among themselves without converting to dollars. It will save them a few points on every trade.
It will mean the banks won’t need as many dollars on hand. Those excess dollars will be sold. The value of the dollar will drop. And the price of everything will rise accordingly.
And they would depend on China to keep the airways and seaways free for commerce? Good luck with that.
Biden, the straw president?
He’s irrelevant. It’s the deep state, death to America gang talking through their sock puppet Biden.
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