While the Biden administration stands firm on supporting Ukraine and presenting Russia as being the aggressors led by President Vladimir Putin, it seems that not every country feels that way. Speaking with BRICS countries, President Putin announced that the coalition, which includes Brazil, Russia, India, China, and South Africa, will not be using the United States’ dollar as they are preparing to create a new global reserve currency that could potentially cripple the U.S. economy.
Detailing what a new global currency would do to the United States, the Reese Report, as can be seen in the video below, warned that such a move could be catastrophic for America. Even Dipanjan Roy Chaudhury of The Economic Times reported, “The issue of creating an international reserve currency based on a basket of currencies of our countries is being worked out. The BRICS countries have been also boosting the use of local currencies in mutual trade.”
Just six days ago, speaking to BRICS countries, Putin claimed that the West was the cause of the global crisis seen around the world. “Only on the basis of honest and mutually beneficial cooperation can we look for ways out of the crisis situation that has developed in the global economy due to the ill-considered and selfish actions of individual states. He added that “their own mistakes in macroeconomic policy on the whole world. We are convinced that now, more than ever, the leadership of BRICS countries is needed to develop a unifying, positive course towards the formation of a truly multipolar system of intergovernment relations.”
According to Mac Slavo, writer for SHTFplan, “This is not by accident. There are no coincidences. They are taking ownership of everything, including human beings unless we refuse to participate in their system. Once the U.S. dollar collapses, and society quickly follows, the rulers will have every excuse to introduce and make appealing their totalitarian permanent slave system.”
Following Russia, Chinese President Xi Jinping admitted on Thursday that the country was opposed to the abuse of international sanctions, like the ones placed on Russia. “We must abandon Cold War mentality and block confrontation and oppose unilateral sanctions — and the abuse of sanctions. The global economic recovery remains a tortuous process while peace and security become more salient problems.”
While some might believe the calls for a new global currency to be nothing more than a bluff, the Hill reported, “The hegemony of the U.S. dollar was reliant on America’s hegemonic status in the world. With the world moving toward multipolarity and with the U.S. no longer the world’s largest trading nation (it is China) the power and status of the dollar could be waning as well. Given the increasing role played by China, the European Union and other countries of the global south, the dollar might just be witnessing its descent.”
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