‘BRICS Pay’ and the Coming End of US Dollar Hegemony

BRICS

BRICS National Leaders (From BRICS’s external site)

The BRICS nations are looking to implement another tool to reduce the need to trade in US dollars:

BRICS countries to create own payment system to cut dependence on West

The five major emerging economies – Brazil, Russia, India, China, and South Africa – are developing a joint new payment system called BRICS Pay, the Russian media has reported.

BRICS countries want to create a special online wallet to integrate the payment systems of its five member states, Izvestia said on Friday citing the Russian Direct Investment Fund (RDIF). Russia’s wealth fund is reportedly working on the project alongside its partners from China and India, who have the necessary technologies to launch the system. …

The service will be similar to existing Apple Pay and Samsung Pay, allowing users to pay with a smartphone app no matter what currency the customer’s account is linked to. A special cloud platform is to be created to link BRICS countries’ national payment systems.

The pilot version of the payment system is to be tested in April in South Africa, who joined the bloc in December 2010, adding the last “S” to the acronym.

BRICS own payment system is to significantly reduce the dependence on transnational payment organizations, which is especially important amid geopolitical tensions, RDIF vice president told Izvestia. Meanwhile, the president of Russia’s Chamber of Commerce said that the integration of the national payment systems is a top priority for the bloc given financial market volatility and the dollar rate. 03/01/19 https://www.rt.com/business/452737-brics-own-payment-system/

This is yet another nail in the coffin for the US dollar.

While this is NOT enough to destroy US dollar hegemony, it is another step.

Yes, US sanctions and threats are pushing various nations to look at many ways to try to bypass the need to use US dollars in international trade.

Donald Trump wants a weaker dollar:

March 2, 2019

President Donald Trump reiterated his criticism of the Federal Reserve’s monetary policy and said it is promoting a strong U.S. dollar, possibly at the expense of the U.S. economy, during a nearly two-hour speech at the Conservative Political Action Conference on Saturday. https://www.cnbc.com/2019/03/02/trump-talks-rate-hikes-and-china-trade-at-cpac-2019.html

Donald Trump wants a slightly weaker dollar to help with trade matters.

But the time will come when the US dollar will crash.

Many steps that are pushing towards that are occurring.

Consider the following from last Summer:

Updated July 30, 2018

Russian holdings of Treasury securities declined 84 percent between March and May, falling to $14.9 billion from $96.1 billion in just two months.

Russia’s sell-off of U.S. debt in May occurred around the same time the benchmark 10-year Treasury note yield rose to its highest level since 2011.

“If I had to wager, I would bet that this is part sanctions and part portfolio adjustment and little to do with a real market move,” said Raymond James’s Kevin Giddis. https://www.cnbc.com/2018/07/29/treasury-department-report-shows-russian-holdings-of-us-debt-plunged.html

On the last day of the BRICS 2018 conference, Russia’s President Putin said (bolding mine):

President Vladimir Putin said that Russia does not renounce the US dollar as a universal reserve currency.

“Russia does not renounce the dollar as a universal reserve currency,” the Russian leader said at a press conference following the results of the BRICS summit.

“We are not going to make any drastic moves, we are not going to renounce the dollar, we are using it and will use it as far as the financial authorities of the United States do not hamper the use of the dollar in settlements,” Putin said.

He noted that the euro also can “more or less” claim the status of a universal reserve currency but “not in full”.

“Therefore, we are quite aware of what the dollar represents today,” the Russian president concluded.

Speaking about reserve currencies in general, Putin noted that some currencies can play the role of “regional reserve currencies.” In a way, the Russian ruble is such currency in relation to the CIS countries or the countries of the EAEU (Eurasian Economic Union).

“But, in general, any national currency is so strong and good as the economy that is behind it is strong and good. Therefore, we must proceed from this fundamental factor,” the Russian leader stressed.

“As for the dollar, we should minimize risks, because we see what is going on due to these sanctions, these actually unlawful limitations. We are aware of these risks and are trying to minimize them,” Putin said.

“As far as our US partners and restrictions introduced by them are concerned, including for settlements in dollars, I believe this is a major strategic mistake of our US partners,” the Russian president said.

“They [the US] thereby undermine confidence in the dollar as in the reserve currency,” Putin noted. …

“A lot of countries state that it is necessary to expand the possibilities of global financing, the world economy and to create new reserve currencies. That will make the world economy and world finances more sustainable,” the head of the Russian state said.
07/27/18 http://tass.com/economy/1015096

Now also notice that he said that the Euro was becoming a reserve currency, but is not ready yet. He also said that the world wants more world currencies, which effectively means the toppling of the USA dollar.

Furthermore, Vladimir Putin noted that the USA is undermining its position as the world’s primary reserve currency through its sanctions and other policies.

This will one day have major ramifications:

What happens to the US economy if the Dollar is no longer the reserve currency of the world?

If US T-bills lose their attraction as reserve investments … it would get harder for the Treasury to sell more of them, requiring higher interest rates to be paid and potentially forcing austerity measures on the US government or triggering classic deficit spending inflation (“printing money” to pay for government, this doesn’t happen now because the deficit is financed through sales of those bonds at extremely low interest rates).

If foreign central banks and governments start exchanging their US dollars for some other currency or currencies, then the value of the dollar in international trade drops, it becomes more expensive to buy imported goods in the US and more profitable to sell exported goods from the US. This could have all kinds of political and social effects, especially if the shift was rapid, severe, and unexpected. https://www.quora.com/What-happens-to-the-US-economy-if-the-Dollar-is-no-longer-the-reserve-currency-of-the-world

The above is warning about inflation, higher interest rates, and troubles borrowing. The USA is the most highly indebted nation of all time. The USA has been essentially on a borrowing binge the last four decades and its economy is now dependent upon borrowing. The Bible paints an even worse scenario that in the time of the end (Habakkuk 2:2-3) the highly indebted will be taken over (Habakkuk 2:2:6-8) and destroyed (Daniel 11:39; USA in Prophecy: The Strongest Fortresses).

Part of the objective of the BRICS, EAEU, and SCO (Russia or China is in each of those groups) is to establish a new world order (SCO, EAEU, and BRICS defining a ‘new world order’?)–an order no longer dominated by the USA and its Anglo-Saxon allies.

Notice also the following:

March 1, 2019

Dollar Hegemony, Again

The United States Entity … The game was: oil had to be sold in dollars. Know as Dollar Hegemony, this racket allowed the Entity to print money. Oil backed the dollar just as gold once had. Governments had to maintain large supplies of dollars to protect against “emergencies,” that is, dollar shortages during speculative attacks on their currencies. “To prevent speculative and manipulative attacks on their currencies, the world’s central banks must acquire and hold dollar reserves in corresponding amounts to their currencies in circulation.” The Entity enforced dollar hegemony with military threats. …

The Entity had abused dollar hegemony over the years by simply printing dollars. The Entity ran huge trade deficits every year. China, Japan and all other countries had had to keep reserves of dollars if they were to purchase oil and protect their currencies. These were like never- having-to-be-repaid loans to the Entity. If other currencies could be used they would dump these reserves because the only thing preventing inflation of these dollars had been dollar hegemony, backing the dollar with oil. Iran doing business in non-dollar currencies is like a leak in a dike.

Russia, China, India and Japan are now unloading dollars carefully, so as not to cause a panic. But they are steadily unloading them. They see dollar hegemony disappearing. …

The end of dollar hegemony is an existential threat to The Entity. Originally The Entity exchanged securities for these dollars, one piece of paper for another, or more likely bits of code, with the Federal Reserve. Then it spent them, mostly on the military. The Federal Reserve unloaded these dollar-denominated securities to whoever had faith in the dollars they could exchange them for. Nice work if you can get it, but securities are debt. The Entity is so far in debt that it pays almost a trillion dollars in debt service annually. To do so it needs more dollars and to sell more securities. Faith in this Ponzi scheme might waver. If everyone unloads dollar securities the entity will have to print more dollars, and sell more securities to buy them. Otherwise their price will crash. But what real something or other will these dollars buy given how many will be floating around? For there will be no other buyers unless the dollars can buy something real. The Securities will then be worthless. If Entity securities become worthless so will the dollar. Bye-bye Entity. …

Without dollar hegemony the dollar will hyper-inflate and destroy the Entity. https://www.counterpunch.org/2019/03/01/dollar-hegemony-again/

Yes, the USA never intends to pay back its debt, except in dollars worth much less than when they were borrowed. That may well be considered as “dishonest profits.”

While the USA thinks it will get away with that, the Bible says otherwise. For example, Ezekiel’s writings confirm that those who made profits improperly will be punished:

13 “Behold, therefore, I beat My fists at the dishonest profit which you have made, and at the bloodshed which has been in your midst. 14 Can your heart endure, or can your hands remain strong, in the days when I shall deal with you? I, the Lord, have spoken, and will do it. 15 I will scatter you among the nations, disperse you throughout the countries, and remove your filthiness completely from you. (Ezekiel 22:13-15)

Borrowing money that will not be paid back is a “dishonest profit” which the American and British peoples have been living on for the past several decades.

We are currently in the time of Anglo-American dominance–peoples that were prophesied to take on Jacob’s name in Genesis 48. We have been in that time since around the start of the 19th century.

Yet, now we are getting closer to the final Time of the Gentiles.

Notice the following prophecies from the Old and New Testaments:

23 ‘Make a chain,
For the land is filled with crimes of blood,
And the city is full of violence.
24 Therefore I will bring the worst of the Gentiles,
And they will possess their houses;
I will cause the pomp of the strong to cease,
And their holy places shall be defiled.
25 Destruction comes;
They will seek peace, but there shall be none. (Ezekiel 7:23-25)

23 But woe to those who are pregnant and to those who are nursing babies in those days! For there will be great distress in the land and wrath upon this people. 24 And they will fall by the edge of the sword, and be led away captive into all nations. And Jerusalem will be trampled by Gentiles until the times of the Gentiles are fulfilled. (Luke 21:23-24)

2 But leave out the court which is outside the temple, and do not measure it, for it has been given to the Gentiles. And they will tread the holy city underfoot for forty-two months. (Revelation 11:2)

This will happen during a period that “it is the time of Jacob’s trouble” (Jeremiah 30:7) and that the “Gentiles” are dominating. This means those that are descended from Israel or have the name of Jacob (cf. Genesis 48:14-16) will be mainly the ones who are trampled on. One of the peoples that God says He will use to punish the descendants of Israel, Assyria (Isaiah 10:5-11), are a Gentile people–they will normally lead during the time of the Gentiles. This will be a terrible time.

For the final time of the Gentiles to arise, the Gentiles will need to cooperate together against the USA and its Anglo-Saxon descended allies. The BRICS, EAEU, SCO, and the Belt and Road Initiative are all intended to do that and are all taking steps which align with properly understood biblical prophecies. Even the European Union is working on this. The Bible also shows that a block of nations from North Africa and the Middle East will also be involved (cf. Daniel 11:27, 40-43)–this is something that US President Donald Trump and others have encouraged (see How Will Middle East Peace be Brought About?).

Yet, most in the USA, Canada, UK, Australia, and New Zealand do not understand what is now happening on the world scene and how they will be affected.

Last Summer, the Continuing Church of God (CCOG) put out the following video on our Bible News Prophecy YouTube channel:

15:19

US Sanctions and Tariffs leading to New World Order?

Russian Prime Minister Dmitry Medvedev said new US sanctions would be a declaration of economic war. Iran, North Korea, China, Europe, and Turkey are also upset about USA sanctions and tariffs. A Turk asserted “Somebody must find a solution and stop the USA.” The BRICS nations see US sanctions and tariffs as helpful to their objectives to trade without the USA. Are “unintended consequences” of USA policies threatening the current Anglo-American world order and leading to a New World Order? What has ‘Lord’ Jacob Rothschild and Russian President Vladimir Putin stated? Does Bible prophecy show that a confederation of Turks, Arabs, and Europeans pose a real threat to the USA and UK? Is the final time of the Gentiles coming? Will it be worse than people imagine? Dr. Thiel addresses these issues and more.

Here is a link to our video: US Sanctions and Tariffs leading to New World Order?

There is a cost to US trade policy, sanctions, and international bullying.

The world will be transformed into a Gentile image. An image that those in the Anglo-American nations will dread!

Policies by the USA and other Anglo-Saxon descended nations are accelerating this trend.

We are getting closer to the final time of the Gentiles.

Some items of possibly related interest may include:

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 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.
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).
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 China paving roads to Armageddon? China is working on something known as the ‘Silk Road’ project or the “One Belt, One Road” initiative. NBC reports that China intends to spend one trillion dollars to build roads, bridges, railroads, and maritime facilities to reach from China to Europe and China to the Middle East. Over 60 nations, including Russia, are involved with this. Could this Silk Road project possibly produce thoroughfares that could be used by troops that will amass at Armageddon? Dr. Thiel discusses this project and some of its potential prophetic ramifications in this video.
Armageddon Who is involved and when will this gathering happen? Here is also a video from Dr. Thiel, from Tel Megiddo in Israel: Armageddon.
China, Its Biblical Past and Future, Part 1: Genesis and Chinese Characters Where did the Chinese people come from? This article provides information showing that the Chinese peoples must have known about various accounts in the Book of Genesis up until their dispersion after 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?
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? And is there early evidence that they observed the seventh day sabbath?
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? A YouTube video of interest may be Is China THE Threat to the United States of America?
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 a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? Here is a link to a video titled: The Future King of the North.
Can You Prove that the Beast to Come is European? The Book of Revelation tells of a beast power that will rise up. Some think that this must be Russia or could be Islamic, while others say that this power is European. The Book of Daniel tells of the rise of an end time King of the North that some think must be referring to a Russian leader, while others say that this power is European. How can you be sure? This YouTube video has all the scriptural proofs that you should need to prove that this power must be a European one.
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. A related sermon is titled: Do these 7 prophesies point to the end of the USA?
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin? A related sermon is also available: The Bible, the USA, and the King of the West.
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? In the Spanish language check out ¿Quién es el Rey del Norte? Here is a link to a video titled: The Future King of the North.
The Great Monarch: Biblical and Catholic Prophecies Is the ‘Great Monarch’ of Catholic prophecies endorsed or condemned by the Bible? Two sermons of related interest are also available: Great Monarch: Messiah or False Christ? and Great Monarch in 50+ Beast Prophecies.
The Gospel of the Kingdom of God This free online pdf booklet has answers many questions people have about the Gospel of the Kingdom of God and explains why it is the solution to the issues the world is facing. Here are links to three related sermons: The World’s False Gospel, The Gospel of the Kingdom: From the New and Old Testaments, and The Kingdom of God is the Solution.
When Will the Great Tribulation Begin? 2019, 2020, or 2021? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2018 o 2019? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives and Can the Great Tribulation begin before 2020? A shorter and newer video is: Might the Great Tribulation start in 2019?
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.
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?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be: Are Chinese threats against Australia for real?
Will the Anglo-Saxon Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves? Here is a related item in the Spanish language ¿Serán divididas las naciones anglosajonas?
British are the Covenant People What do ‘British’ and ‘Britain’ mean in Hebrew? Are the descendants of the Anglo-Saxons people of the covenant? Does the British royal family connect to the throne of David? What does the Bible teach? What does history show us? Is there any DNA evidence related to British-Israelism? When did Christianity make it to the British Isles? Could Jeremiah have made it to the British Isles? What type of Christians made it to the British Isles? Did the last King of England believe in British Israelism?
Donald Trump in Prophecy Prophecy, Donald Trump? Are there prophecies that Donald Trump may fulfill? Are there any prophecies that he has already helped fulfill? Is a Donald Trump presidency proving to be apocalyptic? Two related videos are available: Donald: ‘Trump of God’ or Apocalyptic? and Donald Trump’s Prophetic Presidency.
Trump Presidency Magic 8 Ball or Bible Prophecy? BBC reported that one might as well use a ‘Magic Eight-Ball’ to try to predict what will happen in the remaining time of Donald Trump’s presidency. What is a ‘Magic Eight-Ball’? Dr. Thiel not only explains that, but also briefly goes over 10 biblically-based warnings he wrote would happen if Donald Trump were elected that have already began to come to pass. He also goes over something he wrote back in 2008 that the Trump presidency is also helping lead to fulfillment. Should you trust Bible prophecy or not? Dr. Thiel says that Bible prophecy can be trusted, despite the view of skeptics and others that either overlook or despise the Bible. This is a video.