- Dec 3, 2006
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Saudi Arabia, Iran, UAE, Egypt, and Ethiopia are joining BRICS.
How will this alliance impact the world?
This may lead to the loss of reserve currency status which has happened many times in history and our country going broke. We already see these countries unwilling to loan us money through buying Treasuries for our ever expanding debt. More and more countries are joining the BRICS nations because we weaponized the reserve currency, the dollar through sanctions. The sad thing is that sanctions don't work ie. North Korea and Iran, even being sanctioned still do what they do.How will this alliance impact the world?
Saudi Arabia, Iran, UAE, Egypt, and Ethiopia are joining BRICS.
How will this alliance impact the world?
This may lead to the loss of reserve currency status which has happened many times in history and our country going broke. We already see these countries unwilling to loan us money through buying Treasuries for our ever expanding debt. More and more countries are joining the BRICS nations because we weaponized the reserve currency, the dollar through sanctions. The sad thing is that sanctions don't work ie. North Korea and Iran, even being sanctioned still do what they do.
Our politician's fiscal policies and ignorance are the cause of this. According to Ray Dalio's video "Changing World Order" usually loss of reserve currency status ends with war. The sad thing is the weapons today aren't like they were yesterday. As a Christian, I understand where the world is headed but it suck s watching it happen.
Like I've been saying all along the aspiration you speak of is a result of the West. You have to look at America from an economic point of view, America is going broke and these countries are trying to get away from the dollar. They see our spending and debt (credit rating?) as not sustainable so they want to get away from the petrol dollar and create their currency for commodities. Also, the USA has used what should be a neutral reserve currency and has bullied other countries through sanctions to force them to bend to our will. That is why a lot of countries are not buying our debt.The aspiration here is to bring about a multipolar world in which the many autocracies (Sorry Brazil and South Africa) and smaller nations in this club will have more freedom to act according to their agendas.
BINGO! Why does it have to be Western hegemony, our arrogance, Why can't we accept other cultures and beliefs and live in peace?The group looks more like an axis of resistance to me than an actual threat to Western hegemony.
The problem is we don't learn from history.A world where there is no clarity on where the "buck stops" is an incredibly uncertain one and indeed unmapped in our experience of much the last 500 years.
Like I've been saying all along the aspiration you speak of is a result of the West. You have to look at America from an economic point of view, America is going broke and these countries are trying to get away from the dollar. They see our spending and debt (credit rating?) as not sustainable so they want to get away from the petrol dollar and create their currency for commodities. Also, the USA has used what should be a neutral reserve currency and has bullied other countries through sanctions to force them to bend to our will. That is why a lot of countries are not buying our debt.
BINGO! Why does it have to be Western hegemony, our arrogance, Why can't we accept other cultures and beliefs and live in peace?
The problem is we don't learn from history.