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 ...
Should be an interesting war.
Russia isn’t the big Cheese in BRICKS—its China and India.
it’d hold a lot more merit if we weren’t diluting the dollar to short change our creditors.
the basket of goods being suggested for BRICS is like any other commodity driven index.
making it the foundation for various currencies isn’t a bad idea in general... but it does drop our influence around the world.
Well, everything, everything senile Joe has done has backfired. From his Covid vax hoax and shutting down the economy to his Afghanistan debacle, to his Ukie war debacle.
When senile Joe weaponized the USD,he started an unstoppable chain reaction.
India’s finance minister said it best, if we don’t do as the US says, they will sanction us and confiscate our assets…….65 percent of the world’s population ( China, Russia, India, etc) will simply not take that chance, no matter what Trump does or threatens.
Trump had better rethink his USD plan, threatening to halt all trade with countries not using the USD will in the end backfire.
“Bottom line is every country in the BRICS needs access to the USA”
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You live in the past, times a changing. I suggest you look at current trade deficits.
https://worldpopulationreview.com/country-rankings/us-trade-deficit-by-country
“ The United States has the largest trade deficit in the world. In 2023, the trade deficit of this nation was $773.4 billion. While the country brought in $3,826.9 billion in imports, the amount of exports was just $3,053.5 billion, (BEA, 2024)…”
they have zero leverage once we get a real America First prez in office.
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I am a Trump supporter, but be realistic. Trump has only two years at best, Congress can flip in the next mid term elections, 400 Congress and 33 Senate up for grabs.
Many Republicans are going to cock block everything he does, and all Demoncrats want a pound of flesh.
Nope
We the world’s largest market. Our problem is the politicians running our country the last 35 years were to ideologically hide bound to realize what a massive weapon the US Economy can be. Between economic and political pressure, the US can swing a massive stick in the world’s economy when it has the guts to do it.
I don’t think your stats say what you think they say. What we import is the much more important number. All of the BRICS want to sell their stuff here to the USA. The USA is like Costco in the sense that IF you can get a product in Costco your business is set. The volume is worth any headaches.
They want access to the US consumer. If we can deregulate and start producing energy (hello nuclear) we are far and away the best place to do business with. A stable & thriving economy with citizens with a high standard of living and disposable income is a goldmine for businesses from those countries.
At the end of the day we have been underwriting the BRICS and defeating their costs at our expense. Trump is simply saying you cannot have it all your way. If you want to take shots and bite the hand that feeds you expect to get your nose whacked and possibly cut off til you figure it out. I don’t think ANY of the BRICS will take it that far. If the USA is being run by a smart cabal of business and tech geniuses and NOT Communists, we will lead and everyone will want to get a piece of the pie.
I think Reagan showed the Russkies about the power of the American economy. 😉
“Trump has only two years at best,”
Yo7 don’t think he will survive the civil war and breakup of the US?
The Chicom Putin moles sure pop their heads up on a thread like this.
It’s funny how they are in lock step with the GOPe, neocons, democrats, EU and globalists in this.
And of course being anti-Maga.
“Russia isn’t the big Cheese in BRICKS—its China and India.”
Yes. Chicoms mainly.
India doesn’t even support this BRICs policy.
It’s hard to know why India is even in BRICS other than they like to cover all bases and straddle every fence.
Troll
Glad to see you are reading Martin’s work. I will let you know when the second movie about him releases.
I highly recommend the Armstrong bashers see both.
Except for Brazil - its largest partner is China, not the USA
You don’t believe delta7/Martin Armstrong predictions?
What I believe or don't believe has no bearing on your trolling.
Don’t mess with Trump
In the long run the value of the US Dollar will depend upon the US Federal Government Debt to GDP ratio being sustainable. Any short term actions by the BRIC nations will be of little consequence. So, what Trump (and Biden for his last 7 weeks) should focus on is significantly cutting federal spending.
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