Singapore, BRICS, and the losing of the petrodollar
We are seeing more and more moves that are chipping away at the dominance of the US dollar for trade. Notice the following about Singapore:
BRICS: Tourists in Singapore & China Pay Chinese Yuan, Not US Dollar
December 11, 2023
BRICS member China teamed up with Singapore to allow tourists the option to pay in the digital Chinese Yuan and not the US dollar. The move is to enhance convenience for tourists who visit both Singapore and China for vacations. China’s Central Bank launched the digital Yuan as a pilot batch and now allows overseas travelers to pay through it. The move will also reduce the usage of the US dollar for transactions in both China and Singapore by tourists. …
China is steadily advancing to uproot the US dollar’s dominance in the global markets. BRICS is convincing several other developing countries to trade in local currencies and cut ties with the US dollar. The move could hurt the prospects of the US dollar and reduce its demand in the international markets. https://watcher.guru/news/brics-singapore-tourists-pay-china-chinese-yuan-not-us-dollar
The USA has pushed many against it through its sanctions and increasing debt. The use of what Hillary Clinton called that USA’s “soft power” has been a type of bullying that many nations around the world have resented.
Notice also the following report:
December 10, 2023
The death of the petrodollar is one of the key waypoints in the US dollar losing reserve currency status, as I have written about at length in the past. And while the US dollar used to be the only currency that foreign nations would trade oil in, that has now come to a screeching halt.
Not only is Saudi Arabia trading oil in other currencies than the dollar (notably the Yuan), it now appears the UAE is also strategically shifting away from the US dollar in its oil transactions, marking a significant change in the global financial landscape.
This move, involving potential deals with up to 15 countries including China, Russia, and Egypt, is part of the de-dollarization trend I have predicted, led by the oil sector. Led by the BRICS alliance, the move is redefining global economics and challenging the US dollar’s dominance in international trade.
When you take this into account alongside the fact that Russia is strengthening its ties with China and Saudi Arabia, it is tough to think anything but that we are still solidly on the path to global de-dollarization. …
I asked my friend Andy Schectman of Miles Franklin Precious Metals for his exclusive take on the situation for my Fringe Finance readers. He’s one of the smartest people I know when it comes to understanding the dollar globally — and he’s all but predicted the exact scenario that’s taking place.
“The OPEC members decided in 1973/4 to price all oil sales in US dollars and invest any excess in US Treasury bonds in exchange for US military protection. This is how the petrodollar system got its start, and for the last 50 years, due to this arrangement has created a ‘synthetic’ demand for the dollar, and established the US dollar as the benchmark for oil trade globally,” he explained to me.
He continued: “The US Government has done more to destroy this country in the previous few years than any external enemy could have ever done. By using sanctions and other forms of coercion, we have turned the US currency and the SWIFT system into weapons that has forced out a large portion of the global population creating a global backlash that is accelerating.”
“Without a doubt, the deliberate emergence of new cooperating powers is causing a significant global power shift that the world is currently experiencing. The emergence of the BRICS in my mind is the most notable example. Six more strategically important nations were added to the group in August: Argentina, Saudi Arabia, Egypt, Ethiopia, United Arab Emirates, and Iran,” Andy said.
When I asked Andy why it’s important that people take the BRICS nations seriously, he told me: “With over 40 more countries showing interest in joining the BRICS group of countries and reports of many more expressing interest growing daily, it appears that this growing union is gaining legitimacy and serious traction.”
“Together with their new members, the BRICS countries currently control two of the three largest nuclear weapons arsenals on the planet, most of the world’s strategic commodities, oil production capacity, enormously expanding reserves of precious metals, and, surprise, the majority of rare earth metals required for the production of batteries and other green and renewable energy applications.”
He also talked about the importance of Saudi Arabia’s role when asked about Putin’s recent trip to visit MBS: “In recent years, Saudi Arabia, the cornerstone of the dollar hegemony, has joined the exponentially expanding Belt Road Initiative alongside all the other OPEC members. The Saudi’s have also joined the BRICS, the Shanghai Cooperation Organization which is the largest regional financial and military organization in the world, and the BRICS New Development Bank.” https://www.zerohedge.com/markets/petrodollar-endgame-moves-even-closer
Yes, the government of the USA has done a lot to destroy the value of its dollar.
According to Bible prophecy, the massive debts of the USA will be a factor, not just in pushing its dollar aside, but also in its destruction:
6 “Will not all these take up a proverb against him, And a taunting riddle against him, and say, ‘Woe to him who increases What is not his — how long? And to him who loads himself with many pledges’? 7 Will not your creditors rise up suddenly? Will they not awaken who oppress you? And you will become their booty. 8 Because you have plundered many nations, All the remnant of the people shall plunder you, Because of men’s blood And the violence of the land and the city, And of all who dwell in it. (Habakkuk 2:6-8)
Actually, with an admitted debt as of December 7, 2023 of $33,832,815,714,760.09 (https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/debt-to-the-penny) and plans to increase that much further, the USA has increased pledges more than any nation in the history of the planet. This is not good for the USA.
There is a cost to USA sanctions and its weaponization of the dollar.
Now in addition to the expanding BRICS alliance, even Singapore is starting to get involved in this.
What most Americans do not realize is that the largest export from the USA is actually its currency–which is basically debt notes.
Here is something from my free online book Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America?:
The Bible warns about silver becoming “dross” (Isaiah 1:22; Ezekiel 22:18-22) and says to reverse it once it happens (Proverbs 25:4a; Isaiah 1:25). But the Anglo-American nations have not done that, their old silver coins are now dross (made/filled with cheaper materials) and their massive debts have made dross out of their fiat currencies (currencies that are not tied to gold or some other hard asset).
Furthermore, the “U.S. is highly vulnerable to loss of confidence by foreign creditors.”[i] U.S. government debt is “extremely vulnerable to foreign attack because of the high percentage of foreign ownership — almost 40% of the market.”[ii]
Interestingly, in the past, one foreign creditor, China, has raised concerns about the U.S. debt that are so serious, that its potential dumping of that debt has been called China’s “nuclear option”[iii] against the U.S.A.—an option that involves no military intervention, but that could greatly harm the U.S.A.
Many have complained about the U.S.A. “weaponizing” its dollar through sanctions, bank restrictions, and other means.[iv] By doing so, the U.S.A. has inadvertently been building up a coalition to push aside the dollar—and this will happen when the timing is considered to be better. European leaders have been working for years to establish a new reserve currency for the world, partially with the intent to remove the U.S. dollar from its position as the world’s primary reserve currency. The fact that Europe would develop its own currency, as well as for that purpose, was predicted by Church of God writers no later than 1971[v] –which is over two decades before the euro was officially agreed to.
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. [vi] 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,”[vii] which may have gold-backing.[viii] 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.”[ix]
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.
Destruction is coming.[i] Rickards J. Axis of Gold. The Daily Reckoning, December 20, 2016
[ii] Ibid
[iii] Gertz B, China Debt Threat. Washington Times, March 2, 2011
[iv] Jayakumar V. The weaponization of finance threatens the future of the dollar standard. The Hill, March 1, 2022
[v] Hogberg G. Rising World Colossus. Plain Truth magazine, May 1971
[vi] Escobar P. BRICS was created as a tool of attack: Lula. Asia Times, August 28, 2019
[vii] BRICS developing new global reserve currency – Putin. RT, June 22, 2022
[viii] Helms K. Economists Discuss Russia, China Potentially Developing Gold-Backed Currency. BRICS Information Portal, November 11, 2022
[ix] Hunter M. BRICS Is Becoming The Big Kid On The Block: Implications For Australia – Analysis. Eurasia Review, November 1, 2022
As far as the BRICS nations go, Brazil and Russia are major oil exporters and China and India are major oil importers. Hence their efforts, combined with some from the Arabs and Iranians, look to help topple away the USA dollars “petrodollar” status.
The USA will have MASSIVE inflation and the economy will never fully recover as creditors will rise up and eliminate the USA per Habakkuk 2:6-8.
What Singapore has agreed to is another “straw” — yet as more and more “straws” are piling up, how long until the back of the USA dollar breaks?
Frankly, it is not too many years from now.
There will be a new world order coming and it will not be one dominated by the Anglo-Americans.
If you think that the USA will continue to be number 1 and claim to believe the Bible, please consider biblical prophecies such as Daniel 11:39; Habakkuk 2:6-8; Isaiah 10:5-11 (see also USA in Prophecy: The Strongest Fortresses and/or watch Do these 7 prophesies point to the end of the USA?).
Some items of possibly related interest may include:
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?
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?
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.
Could God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2031 or 2025 or? There is also a video titled: When Does the 6000 Years End? 2031? 2035? Here is a link to the article in Spanish: ¿Tiene Dios un plan de 6,000 años?
Might the U.S.A. Be Gone by 2028? Could the USA be gone by the end of 2028 or earlier? There is a tradition attributed to the Hebrew prophet Elijah that humanity had 6,000 years to live before being replaced by God’s Kingdom. There are scriptures, writings in the Talmud, early Christian teachings that support this. Also, even certain Hindu writings support it. Here is a link to a related video: Is the USA prophesied to be destroyed by 2028? In Spanish: Seran los Estados Unidos Destruidos en el 2028?
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.
When Will the Great Tribulation Begin? 2024, 2025, or 2026? 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 la Gran Tribulación comenzar en el 2020 o 2021? ¿Es el Tiempo de los Gentiles? A related video is: Great Tribulation: 2026 or 2027? A shorter video is: Can the Great Tribulation start in 2022 or 2023? Notice also: Can Jesus return in 2023 or 2024? Here is a video in the Spanish language: Es El 2021 el año de La Gran Tribulación o el Grande Reseteo Financiero.
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.
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