Posted on 12/02/2024 4:55:57 AM PST by marcusmaximus
The Kremlin said on Monday that any U.S. attempt to compel countries to use the dollar would backfire after U.S. President-elect Donald Trump threatened to impose tariffs on BRICS countries if they created their own currency.
-snip-
"More and more countries are switching to the use of national currencies in their trade and foreign economic activities," Peskov told reporters.
If Washington resorted to "economic force" to compel countries to use the dollar it would backfire, he predicted.
"If the U.S. uses force, as they say economic force, to compel countries to use the dollar it will further strengthen the trend of switching to national currencies (in international trade)," said Peskov.
"The dollar is beginning to lose its appeal as a reserve currency for a number of countries."
(Excerpt) Read more at usnews.com ...
“We will bury you!”
Says a Country who’s Ruble couldn’t be used as asswipe.
Still, I wouldn’t mind the US having a debt to GDP of 20 percent instead of 130.
wait til we start drilling.
they have zero leverage once we get a real America First prez in office.
The US has abused its position as the reserve currency to force nations to support our warped foreign policy....especially under Obama & Biden.
Most of the trust in the dollar has been eroded. BRICS nations may wait until after Trump to pull the trigger on their own currency.
Listen to what the Krumlin says.
I can't imagine how Russia, after watching threats and aggression from the US for decades, would walk away from the BRICS coalition that has gained momentum and success in combating bullying.
Fool me once; shame on you. Fool me twice; shame on me!
I actually do agree with that assessment. You can’t threaten people into being your ally for long. You need a solid monetary policy if you’re going to keep the American dollar as a reserve.
Bottom line is every country in the BRICS needs access to the USA. None of them could survive without it. What Trump is doing is forcing them to face that reality. We borrow money to give it to them and accept completely lopsided trade arrangements that favor them at our expense. There is a huge difference between being a Bulky and starting to look out for our own interests. These tariffs probably won’t ever get implemented because if they do, that Country would move so far backwards it would take generations to recover if at all.
Plus, everyone wants to ride the wave and make a ton of money. IF Trump can implement his vision, Vance will get 8 years. IF Vance stays true, there will be massive coattails for other countries to ride on.
bkmk
100% tariff on Saudi oil
100% tariff on Russian uranium
100% tariff on Chinese antibiotics
and the money printer goes brrrr...
FAFO Putin.
Its far too late. Biden made a huge mistake in weaponizing the dollar and using it as a tool of American foreign policy to excercise control over other countries.
Large countries with rapidly growing economies who value their independence are now left under no illusion that dependence on the dollar means kowtowing to Washington.
There was a time when the US accounted for almost half the world’s gdp during the postwar period and could throw its weight around with impunity, but those days are long over and they aren’t coming back, no matter how successful Trump is in boosting America’s economy. America’s proportion of the total world economic output is inevitably going to shrink relative to the likes of Brazil, China and India grow their economies to the point where they cannot simply be pushed around by the US threatening tarriffs and sanctions because US consumer markets will not be as all important to them as they are now.
No it won’t.
Biden and the EU leadership have set in motion the fall of the American economy. The alternatives to the USD are not Brics alone, but all the world outside the EU/US/Japan/Korea or about 50 nations. There are another 220 or so that are represented by the non-aligned movement/Global South.
Trump is going to have to put boots on the ground around the world to impose the USD if it’s dominance is to continue.
Brics has officially scared the hell out of Washington.
I wonder if China is looking at Ukraine and thinking it’s better to embrace Trump’s sanctions, dump their dollar holdings and impose Tariffs in return equally applied to the total balance of trade - the Chinese can simply tell Trump you can impose against us hurting sectors of our economy, but we will offset the dividend to you and the damage to ourselves by imposing a recipical financial burden upon those gaining sectors of the American economy, e.g., we will withhold critical trade components and we will break your sanction regime and embrace worldwide free trade.
Our economy is predicated upon a devalued dollar that requires too many for struggeling nations to use and grow; we have held the world back under the USD. The huge gap in wages alone (which are lagging 25% in four years in the US) show the dollar/world imbalance.
Food is a weapon. Withhold US rice and that 4-5% of world production causes stravation. The inability of the US to secure trade deals is why the US cooked up the Ukraine Buyout and the Russia collaspe tandems. Now we have no Petro-Dollar and Brics is ascendant.
There are two outcomes to this type of policy.
One outcome is that the US becomes Isolated and cutoff from natural resources around the globe...
The other outcome is Never-Ending Wars to secure access natural resources.
The World and especially those in Brics know that as Brics grows the US loses.
Amerika is at a critical stage as our primary trading partners and allies in Europe are seeing their economies collaspe, no longer a threat to US dominance at the same time Obama/Biden failed to realize the destruction of the Germany economy would eventually harm the US more than anticipated; the lack of ceritical thinking evident from US world affairs since 2008 is astonishing - having worked in the military, DOD, and then the foreign service I have watched the DNC Thug Policies of domestic tyrants fail on the world stage.
Trump cannot reverse nearly 20-years of abjectly dismal diplomacy and financial policy from Washington with Sanctions and Tariffs.
Trump doesn’t use force. Putin is correct. The threat of economic collapse is more effective on oligarchs.
EC
“Its far too late. Biden made a huge mistake in weaponizing the dollar and using it as a tool of American foreign policy to excercise control over other countries. Large countries with rapidly growing economies who value their independence are now left under no illusion that dependence on the dollar means kowtowing to Washington.”
Yep, Biden’s people went for broke by weaponizing the US Dollar (funny the support Biden’s polices get here, LOL), and now ANY COUNTRY that thinks they can use the US Dollar and be safe from American bullying is no longer under that delusion, and will respond accordingly.
Russian uranium comes from Arizona thanks to the Hildabeast.
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