The BRICS Alliance

LftLD

You have American financial dominance in the world which comes through the petro-dollar system and the fact that the US is the world’s reserve currency, and the US has control of the SWIFT system for exchange of currencies. All of those things give America a huge advantage in the economic sphere. It means that if you want to buy oil, for example, you have to a country wants to buy oil from Saudi Arabia, they have to buy dollars and then with their dollars they buy the oil and. These are not small sums; these are billions of dollars. It actually gives America a big advantage and one of the reasons why America has had to be able to keep its very high standard of living even though it has a debt of 38 trillion dollars and rising which is an astronomical figure is because of this setup. Now, the BRICS policy and Putin’s policy is to break this this arrangement so that American financial dominance will dissolve.  #BRICS #China #russia #SignsOfTheTimes #thedollar #usa  https://lightforthelastdays.co.uk/articles/globalisation/the-brics-alliance/

Transcript

00:00I mentioned the BRICS alliance. Do you know what that is?

00:02It's an alliance of countries, which is Brazil, Russia, India, China and South America.

00:07It's been extended now to some other countries, including Ethiopia, Egypt.

00:12Saudi Arabia is on the brink of joining it.

00:17It's an alliance of countries, which is a kind of trading bloc,

00:21which Russia and China are building up to confront America as the dominant nation.

00:26Remember, since the fall of the Soviet Union in 1991,

00:31the Soviet Union broke up into different parts.

00:34Russia became part of it, but the leading part of it.

00:38And Russian power was extremely broken from being the sort of confrontation

00:43between the Soviet Union and communism and the West.

00:46You now have America as the dominant nation, a unipolar nation, as they call it.

00:51And Russia has resented that, and Putin has played on that resentment,

00:56and that's part of his battle over Ukraine.

00:58He wants to keep the Russian empire intact.

01:01He wants to keep Ukraine in the Russian side of things, not in the Western side of things.

01:07Now, they have a policy of confronting American dominance in the financial area.

01:14Now, I'm not an expert on this.

01:16I think that Mark knows more about this than I do,

01:18but I'm just going to tell you what I know.

01:20You have American financial dominance in the world,

01:23which comes through the petrodollar system

01:25and the fact that the U.S. is the world's reserve currency

01:29and the U.S. has control of the SWIFT system for exchange of currencies.

01:34All of those things give America a huge advantage in the economic sphere.

01:37It means that if you want to buy oil, for example,

01:43a country wants to buy oil from Saudi Arabia, they have to buy dollars,

01:48and then with their dollars they buy the oil.

01:51And these are not small sums, these are billions of dollars.

01:55It actually gives America a big advantage.

01:58And one of the reasons why America has had to be able to keep its very high standard of living,

02:01even though it has a debt of 38 trillion dollars and rising,

02:07which is an astronomical figure, is because of this setup.

02:11Now, the BRICS policy and Putin's policy actually is to break this arrangement

02:15so that American dominance will go, American financial dominance will go,

02:20you won't need to change your dollars to buy petrol and gas,

02:23and America will no longer be the world's reserve currency.

02:29If that happens, it's going to have a huge effect on the American economy

02:33and also on ours, because they're all linked.

02:36You could have a complete currency breakdown.

02:38The dollar would lose its value, inflation would spike in America,

02:43and there would be a move towards a new economic order.

02:49One of the things they want to do in this new economic order

02:51is to set up what they call central bank digital currencies

02:53as a means to exchange money and use high-tech means of exchange.

03:00Also using cryptocurrencies and all that kind of stuff

03:03to change the financial order.

03:07This happens then, it's very difficult to predict what the end will be,

03:14but the fact is that America has its 38 trillion dollar debt,

03:18which you will no longer be able to finance.

03:19So we'll have to, it's got to pay back annually at least one trillion

03:24just in paying the interest on it.

03:27If that happens, the American economy is going to be,

03:29I don't use that, that's a nice word.

03:33It's going to be smashed, basically.

03:37And if the dollar collapses, then the global financial system

03:41is going to implode, because 70% of international trade

03:44still runs on dollars.

03:47And money will be shifted to other currencies,

03:49including cryptocurrencies,

03:50which have basically no intrinsic value, as far as I can see.

03:54And you have basically a world system,

03:58which will be almost like a house on the sand

04:01as the currency collapses.

04:02You've also got the issue of what they call derivatives,

04:09which, again, I don't understand totally,

04:11but there are trillions of dollars lined up in derivatives,

04:14which are kind of unsecured loans,

04:16which if the balloon goes up,

04:18then no one will be able to pay them,

04:19and it'll, again, bring it, kind of crash in the financial system.

04:23So these are things which could happen.

04:25How soon they could happen depends on other things,

04:28but it could mean that you see some measure

04:32of financial instability, which could happen at any time.

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