BRICS Expansion Global Power Shift?

[soulforge]

So this is actually a big event, not many people are taking seriously the significance of the event.

 

[CAPSLOCK BANDIT]

This will likely begin to pave the way from US dollar to Gold Standard, anytime this has had a chance to happen, the US have gone to war and prevented it. I'm sure Iran will suddenly come into great resources and weapons along with a vigor to go after Saudi Arabia.

 

[taiyuu_otoko]

That is a lot more complex than it seems.

It's not going to happen any time soon.

For an in depth view, read this:

Creating an Independent World | Michael Hudson

michael-hudson.com

 

[Bible_Belt]

I'm sure Iran will suddenly come into great resources and weapons along with a vigor to go after Saudi Arabia.

They are both in brics now. The middle eastern countries want military security guarantees, because they hate each other. That's why they use the dollar. The US is the only country who can offer such guarantees.

 

[soulforge]

These countries will be forced to work with eachother. They are on the same team.

They will dump the dollar. They hold over 50% of the earths essential resources.

Empires fall.. It's arrogant to believe that the US empire is immune.

Y'all trying to figure out if you are boys or girls.. The writing is already on the wall.

 

[soulforge]

They are both in brics now. The middle eastern countries want military security guarantees, because they hate each other. That's why they use the dollar. The US is the only country who can offer such guarantees.

True about hating eachother.

However a sea of change is already in process. Hatred can turn into love if it's for a bigger cause.

 

[CornbreadFed]

Maybe

 

[MatureDJ]

This is a nothingburger. These folks don't trust each other, so they'll never get along.

 

[soulforge]

This is a nothingburger. These folks don't trust each other, so they'll never get along.

I'm not sure about that. Being tied down to BRICS could force real commitment to the cause.

In which case BRICS is over 50% of the earth's population and has over 50% of the earth energy resources, oil and gas.

That's not a nothing burger my man

 

[RazorRambo24]

It won't really have an impact in the short run , plus US is good at stockpiling resources and reserving oil that they can easily start utilizing to create major shifts. Still interesting and something that was in some ways necessary. Personally, I don't see myself staying in US forever..The past year or so I've been thinking greatly planning my way to move out the country. Many of the people who I know who have reached substantial wealth already left the US but visit frequently and have real estate in the states to stay in for lengthy periods of time.

The US has already did a great job with COVID in the sense that the pharma stockpile and future pharma that comes from creating and reinvesting in more vaccines and pharma is going to bring in alot of dough for a long time. The plan with COVID was always a long run thing not just a short term plan. The US is one of the most strategic countries in the world, if not the most. Not only military wise but financially. Afterall this nation was started by one of the greatest generals in terms of strategic long term planning. We have some of the strongest private companies in the world that contribute to 87% of our overall GDP. The nations that come second to us with strong non governmental private companies are China and France.

 

[BackInTheGame78]

This will likely begin to pave the way from US dollar to Gold Standard, anytime this has had a chance to happen, the US have gone to war and prevented it. I'm sure Iran will suddenly come into great resources and weapons along with a vigor to go after Saudi Arabia.

Highly unlikely. It's far too ingrained and all of the systems the financial institutions in the world use are linked to the US Dollar along with how they finalize transactions between banks via SWIFT.

You have no idea what you are suggesting or the scope or massiveness of the undertaking this would be and how many systems would need to be changed/designed and made to retroactively work together. Let's just say it would be a monumental undertaking akin to building all of the interstates in the US starting from scratch times 50.

Would be far too costly and far require far too much effort to do so and even at that it would be a very small subset of countries that did it with very few following suit.

I worked for one of the largest global banks in the world, trust me when I tell you it's not happening. At least not in any of our lifetimes.

Even with the inflation that's happened the last year or so, the US Dollar by comparison is one of the most stable currencies and realistically the only one that could serve as a common denominator throughout the world. Even the countries that are trying to switch begrudgingly would be forced to agree with this if you held a match to their foot.

Not to mention that several countries official currency is the US dollar.

Also, what's going to happen when those huge gold reserves found in Africa start flooding the market? The price of gold will drop like a rock. Imagine your dollar being pegged to that once it happens with no way of switching back. Would be a doomsday scenario for those countries that would result in countries turning into third world countries overnight.

 

[Solomon]

Short run not really long run yes, don't forget the dollar is at it's lowest value in the last 30 years also bank runs are happening more and more

We'll be fine until 2030 or 2033, once the WEF agenda kicks in then inflation will be through the roof and don't forget AI is on the corner too

The good news if you prep for it you can get your "perfect 10" girlfriend now bwhahahhaahah

 

[CAPSLOCK BANDIT]

Highly unlikely. It's far too ingrained and all of the systems the financial institutions in the world use are linked to the US Dollar along with how they finalize transactions between banks via SWIFT.

You have no idea what you are suggesting or the scope or massiveness of the undertaking this would be and how many systems would need to be changed/designed and made to retroactively work together. Let's just say it would be a monumental undertaking akin to building all of the interstates in the US starting from scratch times 50.

Would be far too costly and far require far too much effort to do so and even at that it would be a very small subset of countries that did it with very few following suit.

I worked for one of the largest global banks in the world, trust me when I tell you it's not happening. At least not in any of our lifetimes.

Even with the inflation that's happened the last year or so, the US Dollar by comparison is one of the most stable currencies and realistically the only one that could serve as a common denominator throughout the world. Even the countries that are trying to switch begrudgingly would be forced to agree with this if you held a match to their foot.

Not to mention that several countries official currency is the US dollar.

Also, what's going to happen when those huge gold reserves found in Africa start flooding the market? The price of gold will drop like a rock. Imagine your dollar being pegged to that once it happens with no way of switching back. Would be a doomsday scenario for those countries that would result in countries turning into third world countries overnight.

It's already happening. China has been stockpiling gold for a long time, SA is considering taking Chinese currency over US.

Why have they been stockpiling gold? In efforts to avoid sanctions, same reason Russia has.

Look at what the USD is backed by, trillions dollars of debt, it doesn't take a genius to see faith is waning on a global scale, but don't take my word for it, listen to this guy who is an economic expert and has been for a long time, who actually has established credentials outside of "I'm this and that".

Also, I find it amusing your claiming to know economics, yet your crypto guru posts have all but dissipated, you know what has not dissipated? GOLD.

Give me a break guy.

 

[BackInTheGame78]

It's already happening. China has been stockpiling gold for a long time, SA is considering taking Chinese currency over US.

Why have they been stockpiling gold? In efforts to avoid sanctions, same reason Russia has.

Look at what the USD is backed by, trillions dollars of debt, it doesn't take a genius to see faith is waning on a global scale, but don't take my word for it, listen to this guy who is an economic expert and has been for a long time, who actually has established credentials outside of "I'm this and that".

Also, I find it amusing your claiming to know economics, yet your crypto guru posts have all but dissipated, you know what has not dissipated? GOLD.

Give me a break guy.

If you think crypto is done it's laughable. It's just getting started. Financial institutions didn't just spend billions collectively to start these divisions, create an asset class out of it and then just walk away.

The SEC keeps taking L's in court too in their fight with it.