‘BRICS forms concrete plan to ditch USD in trade’
BRICS: US Dollar Top Loser as Saudi Arabia Pays Chinese Yuan For Tradehttps://t.co/DsyWA3Lbvp
— BRICS (@BRICSinfo) November 24, 2023
The BRICS nations (Brazil, Russia, India, China, and South Africa) continue to take steps to push aside US dollar hegemony in the world.
As the tweet at above shows, China is making inroads against what has been called the petrodollar as Saudi Arabia will now sell some oil in yuan, and no longer exclusively in the US dollar.
Here are a couple of reports related to what the BRICS nations have been doing:
BRICS forms concrete plan to ditch USD in trade
November 26, 2023
The global financial landscape is witnessing a tectonic shift with BRICS nations—Russia, China, and India—steering towards an ambitious plan.
Their objective? To sideline the US dollar in favor of local currencies for international trade. This move, spearheaded predominantly by China, is gaining momentum as it woos other developing nations to jump on the bandwagon.
The strategy involves persuading countries like Saudi Arabia, Pakistan, Russia, India, and some African nations to switch from the US dollar to local currencies like the Chinese Yuan for bilateral trade settlements.
China’s persuasive tactics have been successful to some extent. …
Simultaneously, Russia, another key player in the BRICS alliance, is circumventing US sanctions by offering crude oil at discounted rates to developing countries, insisting on payments in either the Chinese Yuan or the Russian Ruble.
India, not to be left behind, is fostering new trade agreements with nations like the UAE, advocating for the Indian Rupee over the US dollar in global trade dealings.
BRICS and Its Currency Powerplay
The underlying strategy of these BRICS nations is clear: elevate their local currencies to a stature that challenges, if not replaces, the dominance of the US dollar in global trade. https://www.cryptopolitan.com/brics-concrete-plan-to-ditch-usd-in-trade/
BRICS: De-Dollarization Gaining Steam in Developing Countries
November 26, 2023
When BRICS announced this year that they plan to dethrone the US dollar from the global reserve currency status, nobody took their ideals seriously. The alliance has now walked the talk and slowly changed the global financial dynamics one step at a time. Though the pace of de-dollarization is slow, BRICS are marching on the path of ditching the US dollar and putting their local currencies forward. …
BRICS could slowly chip away at the global dominance of the US dollar. As years pass by, BRICS will sign more trade agreements adding new countries to settle payments in local currencies. While they’re not attacking the US dollar upfront, they are moving in stealth and pulling the carpet under America’s feet. https://watcher.guru/news/brics-de-dollarization-gaining-steam-in-developing-countries
It is NOT true to say nobody took BRICS’ plans seriously. I and others did. Related to BRICS and the USA dollar, 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. …
A modern reality is that being the world’s de facto reserve currency has helped prolong the U.S.A.’s dominance.
When the U.S. dollar is no longer the world’s reserve currency, this will hurt the U.S.A. financially. Increasing debt, including “quantitative easing,” is a form of dishonest profits that is not something that God approves of and will correctively punish the U.S.A. for (cf. Ezekiel 22:13-16).
Inflation will eventually hit the U.S.A. extremely hard. As the world becomes less attached to the American dollar, many financial jobs and opportunities will be in places other than the U.S.A. Eventually, but not yet, the U.S.A. dollar will become worthless (worth no more than the scrap or sentimental value of the cotton-paper it is printed on).
[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.
Until then, there will be inflation and other issues that will impact the USA as its dollar is used less.
Notice also:
A total of 10 financial sectors in the U.S. will be affected if BRICS uses local currencies and not the U.S. dollar. The sectors include banking, trade, forex, and tourism, among others. The U.S. financial sectors that could be affected if BRICS ditch the U.S. dollar are:
- Global Financial System
- Banking and Finance
- Energy and Commodity Markets
- International Trade and Investment
- Capital Markets
- Consumer Goods and Retail
- Production and Consumption
- Technology and Fintech
- Government and Policy
- Travel and Tourism
Moreover, all the 10 sectors are closely linked to the U.S. economy and could have complications if the dollar loses demand. The banking sector could take the first hit that might eventually spill over to the markets.
Once the financial markets are hit, the domino effect could roll over to all sectors leading to a financial catastrophe. In conclusion, if the U.S. fails to fund its deficit, prices of all commodities could skyrocket or even reach hyperinflation. 10/04/23 https://watcher.guru/news/10-u-s-sectors-to-be-affected-if-brics-stops-using-the-dollar
The USA, with its debt, sanctions policies, forcing international financial reporting, and weaponization of its dollar, is setting itself up for hyperinflation.
Although BRICS will not dominate the world economically like the coming European Beast power will (cf. Revelation 17 & 18), the BRICS nations and their decisions will have major impacts on the world.
Some secular sources are noticing this.
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:
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 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.
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.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is are links to related videos: European history and the Bible, Europe In Prophecy, The End of European Babylon, and Can You Prove that the Beast to Come is European?
 |
Tweet |
|