Did you know there’s a looming new world currency? BRICS versus the G7 for world economic dominance is no surprise and it should not be taken lightly. And let’s remember it used to be the G8.
In March 2014 Russia was suspended indefinitely following the annexation of Crimea, whereupon the political forum name reverted to G7. In January 2017, Russia announced its permanent withdrawal from the G8.
The BRICS association comprises the world’s most prominent emerging economies, including Brazil, Russia, India, China, and South Africa.
Several nations, such as Argentina, Iran, Indonesia, Turkey, Saudi Arabia, and Egypt, have expressed their intention to become part of this economic bloc.
The BRIC countries do not only have their growing economies in common, but they are all undergoing an extensive military modernization effort, aimed at preserving their strategic interests.
Should the world be concerned that the two largest communist nations are the backbone of BRICS? This is the antithesis to capitalism and the current world order.
Let’s also not forget this is about the petrodollar as well. The term “Petro dollar” refers to the US dollar that is used as a primary currency for international oil trade. In the 1970s, the US government made an agreement with Saudi Arabia, which is a major oil producer, to price oil exclusively in US dollars. This established an alliance between the US and Saudi Arabia, which led to other oil-producing countries following suit and using the US dollar as their primary currency for oil trade. The Petro dollar system has since become a crucial factor in the global economy and has helped to maintain the dominance of the US dollar as the world’s reserve currency.
This looks to be a major factor in the current CCP all-electric vehicle push. To go directly after the United States treasure chest of fossil fuels valued in the hundreds of trillions of dollars.
There’s never been a more important time to start reading between the lines of the geopolitical movements that are happening.
And as Ukraine becomes a battleground wasteland symbolizing a very deep line in the sand between a former G8 Nation and the G7. It’s very concerning that too many political leaders in the West can’t or won’t see the forest for the trees.
The upcoming BRICS summit is scheduled for August 2023.
CB
