RT: Brazil and China sign pact to abandon dollar; Forbes: Could The U.S. Dollar Collapse?

China and Brazil reach deal to trade in their own currencies in another challenge to the US dollar’s dominance in the global economyhttps://t.co/GWTFiKAm9b

— TRT World (@trtworld) March 30, 2023

COGwriter

RT reported the following:

Brazil and China sign pact to abandon dollar

March 30, 2023

Beijing and Brasilia have signed an agreement on trade in mutual currencies, abandoning the US dollar as an intermediary, and are also planning to expand cooperation on food and minerals.

According to media reports, the deal will enable the two BRICS members to conduct their massive trade and financial transactions directly, exchanging renminbi for real and vice versa, instead of using the US dollar for settlements.

“The expectation is that this will reduce costs… promote even greater bilateral trade and facilitate investment,” AFP quoted the Brazilian Trade and Investment Promotion Agency as saying …

The countries also reportedly announced the creation of a clearinghouse that will provide settlements without the US dollar, as well as lending in national currencies. The move is aimed at facilitating and reducing the cost of transactions between the sides, and getting rid of dollar dependence in bilateral relations. …

China has been Brazil’s largest trading partner for more than a decade, with bilateral trade hitting a record $150 billion last year. https://www.rt.com/business/573852-brazil-china-abandon-dollar/

The above deal will cost the USA billions each year as its dollar will not need to be used in that trade.

Forbes put out the following yesterday:

Could The U.S. Dollar Collapse?

March 29, 2023

A currency collapse is when a country’s currency loses all its value and becomes practically worthless in day to day use

This is generally as a result of political or economic upheaval, hyperinflation or war

It’s not a common occurrence, but we’ve seen it happen before in various places around the world

For investors, it’s a risk to be aware of, though luckily it’s fairly easy to protect yourself against it

While technically the US dollar could collapse, it’s backing from the largest economy in the world and its status as the global reserve currency, makes that highly unlikely

Whoa, that’s a big statement. If you’re someone from Argentina, Venezuela or Russia, you understand the realities of what can happen when your home currency fails. It’s a big deal, and it can cause immense financial damage to the economy and individuals.

But is it actually realistic to think that the US Dollar, the world’s reserve currency, could collapse too?

Look, we’ll cut to the chase. It’s unlikely. But, it’s not impossible. … Unlike any other country in the world, the U.S. dollar has a special place in the global financial system. That’s because it is the global reserve currency. https://www.forbes.com/sites/qai/2023/03/29/could-the-us-dollar-collapse/?sh=5816b0e518a0

It is more than unlikely, it will happen.

The deal between China and Brazil, as well as other similar deals involving Russia, Iran, and some of the Arab nations are chipping away at the US dollar’s status as the primary currency for international trade (see Iran and Russia looking to bypass the ‘petrodollar’ with gold-backed crypto-currency; China, Saudi Arabia and the ‘petroyuan’, ‘What’s behind the euro’s comeback against the US dollar’ and ‘Much More Pain To Come As The World Moves Away From The US Dollar As The Debt Clock Proves It Is Worthless … ‘, Now with Iraq taking yuan, the USA dollar is losing its dominance as Vladimir Putin has predicted, and ‘Iran, Syria condemn US attacks on Iran-linked facilities’ and ‘US Tensions With Iran Reignite As Dollar’s Petro-Currency Status Under Threat’).

Notice also the following:

9 August 2018

Teheran (AsiaNews / Agencies) – Iranian Foreign Minister Mohammad Javad Zarif has responded to US President Donald Trump’s threats saying that the United States will not be able to prevent the Islamic Republic from exporting oil. …

In the first row between those who want to preserve business relations with Tehran there is Brussels and the block of European countries, according to which the nuclear agreement works and should not be canceled. In spite of the American sanctions, the Union intends to continue to buy oil from the Islamic Republic and to do so it is willing to “create accounts” in the Iranian Central Bank. “The result of these measures – concludes Zarif – will be US isolation”.

The words of the head of Iranian diplomacy are confirmed by some experts and analysts of international politics who believe the economic and commercial war launched by the US administration against Teheran will eventually isolate the United States. In an editorial published in Strategic Culture the British scholar Finian Cunningham urges Washington to respect multilateralism as other nations do. Otherwise, the risk is “economic isolation” by the rest of the international community. In particular, Trump reinforces the course undertaken by Russia and China that intend to free themselves from the US dollar in international trade. Without the reserve currency privilege, the US economy would collapse. http://www.asianews.it/news-en/Zarif-responds-to-Trump:-US-sanctions-will-not-stop-Iranian-oil-44622.html

Note: the statement “Without the reserve currency privilege, the US economy would collapse.”

Notice also:

GT Voice: De-dollarization inevitable as use of other currencies accelerates

March 30. 2023

China and Brazil have reached a deal to trade in their currencies, the AFP reported, citing the Brazilian government on Wednesday.

The deal will allow China and Brazil to carry out trade and financial transactions directly in the Chinese yuan or the Brazilian reais, instead of using the US dollar as an intermediary. … from the perspective of the global monetary system, the move may mark a significant development of the trend toward de-dollarization across the world, as countries are trying to trade in non-dollar currencies and seeking to diversify their foreign exchange reserves.

With the Bretton Woods system and the petrodollar system, the dollar has evolved from a dominant payment, settlement and investment vehicle into a tool of political blackmail and coercion. By weaponizing its dollar hegemony, the US can not only arbitrarily impose unilateral sanctions on other countries, but can also harvest global wealth and export its own risks to the rest of the world through irresponsible monetary policies.

But every hegemonic currency system has its day of collapse. … While the fact that the dollar remains the most frequently used currency in the world will not change in the foreseeable future, the trend that more and more countries will consider and pilot trade in non-dollar currencies is also unchangeable. https://www.globaltimes.cn/page/202303/1288311.shtml

RT mentioned that China and Brazil are part of the BRICS alliance. The BRICS nations (Brazil, Russia, India, China and South Africa) alliance has long wanted to push aside the US dollar for international trade.

Notice the following which is in my book Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America?:

Those in Iran and some of the Arab lands, along with nations such as Brazil, China, and India have discussed plans for the removal of the dominance of the U.S.A. in global trade as well. The former (again current) President of Brazil, Luiz Inácio Lula da Silva, even claimed that eliminating the U.S. dollar’s reserve currency status was one of the reasons that the BRICS alliance (Brazil, Russia, India, China, and South Africa) was formed in the first place. [i] Others have noted that bypassing the USA dollar is still an object of BRICS—and officially BRICS nations “are currently working on setting up a new global reserve currency,”[ii] which may have gold-backing.[iii] The expansion of BRICS (which is in progress) may ultimately even hurt Australian trade as well as “severely weaken primacy of the US Dollar as an international currency.”[iv]

The Bible clearly warns against cheapening the money supply and encourages having money hold its value (Proverbs 25:4 Isaiah 1:25, Ezekiel 22:18-22). Debt is also warned against (Habakkuk 2:6-8). Yet policies enacted under the Obama, Trump, and Biden Administrations, following certain other administrations, have ignored these warnings.

[i] Escobar P. BRICS was created as a tool of attack: Lula. Asia Times, August 28, 2019

[ii] BRICS developing new global reserve currency – Putin. RT, June 22, 2022

[iii] Helms K. Economists Discuss Russia, China Potentially Developing Gold-Backed Currency. BRICS Information Portal, November 11, 2022

[iv]Hunter M. BRICS Is Becoming The Big Kid On The Block: Implications For Australia – Analysis. Eurasia Review, November 1, 2022

One day the US dollar will be toppled. But let, me add that the Bible teaches that a coming European power will accumulate gold too (cf. Daniel 11:38,43; see also The Plain Truth About Gold in Prophecy. How Should a Christian View Gold?).

Much of the world is moving towards a type of integration that will result in the final time of the Gentiles (Luke 21:24; see also The Times of the Gentiles) and the end of Anglo-American dominance.

It should be added that part of the purpose of the Euro was to bypass the USA dollar for international trade. And, that has happened completely within the Eurozone block in the EU.

Steps towards pushing away the Anglo-American dominance of the world for the past couple of centuries is happening.

Related to BRICS, we have the following video:

15:09

BRICS and the Woes of Revelation

The BRICS nations consist of Brazil, Russia, China, India, and South Africa. In February of 2023, Russia, China, and South Africa held joint naval drills. In the Fall of 2022, India, Russia, and China held joint military exercises. Brazil also has a military cooperation agreement with Russia. The Book of Revelation uses the term woe three in chapter 8 verse 13–those woes are then discussed in later chapters. Could the BRICS nations, along with the coming Babylonian European Beast power be involved in all three of the woes? Do the BRICS nations want to push aside the USA dollar? Is one of the woes tied to the rise of a 200,000,000 man army? Is there any connection to the second woe and the two witnesses? Do the woes correspond with the last of the seven trumpets in the Book of Revelation? Is one of the woes tied to Armageddon? Does Jesus return with the seventh trumpet? Will nations not be pleased when Jesus returns? Dr. Thiel and Steve Dupuie go over these matters.

Here is a link to our video: BRICS and the Woes of Revelation.

Although BRICS will not dominate the world economically like the coming European Beast power will, the BRICS nations and their decisions will have major impacts on the world.

As far as currencies like the US dollar go, we also produced the following video:

15:26

Inflation: When Money Fails

Inflation has been higher in 2022 than it has been for decades in the USA, Europe, and many other lands. What are some of the disruptions that inflation can cause? What about hyperinflation affecting places like Venezuela? Did the Book of Haggai predict inflation? Is food price inflation associated with the ride of the third horseman of the Apocalypse? Does sin and government mismanagement cause inflation? Are there physical things one can do about inflation? What about storing food or buying gold? Will gold outlast the USA dollar? Why might some throw their gold in the street as Ezekiel prophesied? What should God’s people do about inflation? What did Jesus teach about food worries? What about seeking the Kingdom of God? Steve Dupuie and Dr. Thiel cover these matters.

Here is a link to our video: Inflation: When Money Fails.

Yes, nations are working to bypass the US dollar.

Yes, that will hurt the economy of the USA.

Yes, despite Forbes calling the collapse of the US dollar “high unlikely,” at least it realizes that such a collapse is not impossible.

Biblically, we know that the USA will be conquered (Daniel 11:39), with its policies and high debt a factor (cf. Habbakuk 2:6-8).

And yes, the US dollar will collapse.

As Jesus said: “And what I say to you, I say to all: Watch!” (Mark 13:37).

Some items of possibly related interest may include:

The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. Two related sermon are available: Identifying the USA and its Destruction in Prophecy and Do these 7 prophesies point to the end of the USA?
Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America? Where did those people come from? Can you totally rely on DNA? What about other peoples? Do you really know what will happen to Europe and the English-speaking peoples? What about Africa, Asia, South America, and the Islands? This free online book provides scriptural, scientific, historical references, and commentary to address those matters. Here are links to related sermons: Lost tribes, the Bible, and DNA; Lost tribes, prophecies, and identifications; 11 Tribes, 144,000, and Multitudes; Israel, Jeremiah, Tea Tephi, and British Royalty; Gentile European Beast; Royal Succession, Samaria, and Prophecies; Asia, Islands, Latin America, Africa, and Armageddon; When Will the End of the Age Come?; Rise of the Prophesied King of the North; Christian Persecution from the Beast; WWIII and the Coming New World Order; and Woes, WWIV, and the Good News of the Kingdom of God.
The Eurasian Union, the Kings of the East, and Bible Prophecy Is there a Eurasian union that will be formed? Is one being formed right now? Are any leaders working on that in the 21st century? Does the Bible teach that there will be a Eurasian union? If some type of Eurasian union is formed, who might it benefit and who will it destroy? A related video would be Is The Eurasian Union Rising?
Russia and Ukraine: Their Origins and Prophesied Future Russia in prophecy. Where do the Russians come from? What about those in the Ukraine? What is prophesied for Russia and its allies? What will they do to the Europeans that supported the Beast in the end? There is also a video sermon available: Russia in the Bible and in Prophecy and a video sermonette available: Ukraine in Prophecy?
Is Russia the King of the North? Some claim it is. But what does the Bible teach? Here is a link to a video, also titled Is Russia the King of the North?
Ezekiel 38: For Russia & Iran in Our Day? Is Ezekiel 38 about to be fulfilled? A related video is available titled Ezekiel 38: For Russia, Ukraine, & Iran Now? Another could be Russia, Iran, Syria, & the Bible (Code).
Europa, the Beast, and the Book of Revelation discusses the largest church since the second/third century, which in a real sense is the eighth church mentioned in the Book of Revelation (it also endorses “eighth day” worship). What church would support the Beast? Here is a link to a video titled: Europe and the ‘Holy Roman Empire’.
Iran in Prophecy Is Iran in Bible prophecy? If so, what does the Bible teach? What names, other than Persia, may be used to describe Iran? There is also a related YouTube video titled Iran In Prophecy. Armageddon Who is involved and when will this gathering happen? Here is also a video from Dr. Thiel, from Tel Megiddo in Israel: Armageddon. Other videos include: Armageddon Will it come on Trump’s watch?, Iraq, Armageddon, & Prophecy, Freemasonry, Armageddon, and Rome, Is China paving roads to Armageddon?, and Jordan, Petra, and Armageddon.
China, Its Biblical Past and Future, Part 1: Genesis and Chinese Characters Where did the Chinese people come from? Japeth, Javan, Magog? Is there evidence that the Chinese peoples must have known about various accounts in the Book of Genesis up until their dispersion after the Tower of Babel? What do Chinese writings and characters help show? What about the Garden of Eden, Noah’s Flood, and the Tower of Babel? Here is a link to a version of this article in Spanish: ¿Prueban los caracteres chinos la exactitud de la Biblia? A related sermon is also available: China’s biblical past and prophetic actions.
China, Its Biblical Past and Future, Part 2: The Sabbath and Some of God’s Witness in China When did Christianity first come to China? What about the Apostle Thomas? Did Confucius say anything to get the Chinese to possibly consider Christianity? Is there early evidence that they observed the seventh day sabbath? What about the Ten Commandments? What type of Church of God witness has there been to China? What has been happening with China that ties it together with prophecies in Revelation? What about the 200 million man army and Armageddon? What about the Belt and Road Initiative and end time Babylon the Great? A related sermon is also available: China’s biblical past and prophetic actions. Watch also China’s Silk Road and Babylon the Great.
Asia in Prophecy What is Ahead for Asia? Who are the “Kings of the East”? What will happen to nearly all the Chinese, Russians, Indians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon? Here is a link to a related sermon: Asia in Prophecy. Two YouTube video are Is China THE Threat to the United States of America? and China: A King of the East.
The Times of the Gentiles Has there been more than one time of the Gentiles? Are we in it now or in the time of Anglo-America? What will the final time of the Gentiles be like? A related sermon is available and is titled: The Times of the Gentiles.
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold and silver? Two videos of related interest may be: Germany, Gold, and the US Dollar and Silver, Science, and Scripture.
Biden-Harris: Prophecies and Destruction Can the USA survive two full presidential terms? In what ways are Joe Biden and Kamala Harris apocalyptic? This book has hundreds of prophecies and scriptures to provide details. A Kindle version is also available and you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to your free Kindle reader app (or if you already have one or a Kindle), you can go to: Biden-Harris: Prophecies and Destruction (Kindle) to get the book in seconds.