“We will bury you!”
Says a Country who’s Ruble couldn’t be used as asswipe.
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.
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.
Should be an interesting war.
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.
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 think Reagan showed the Russkies about the power of the American economy. 😉
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.
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.