RIP Petrodollar

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by Chris Black

It would be difficult to overstate the importance of this.

The world is changing so rapidly, it feels like no one is really capable of grasping it.

Before the US launched this war against Russia, no one would have imagined that BRICS would be a serious competitor to the American system.

Brics members have agreed to admit six more countries – Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates – to the bloc, strengthening the group as it faces a world order dominated by the United States and its Western allies. 

In a press briefing attended by Brics leaders, South African President Cyril Ramaphosa, the current chair of Brics, said the six countries would become full members in 2024.

 The leaders of the emerging economies said they were ready to explore opportunities in the use of local currencies. 

Brics finance ministers and central bank governors will discuss the idea and are expected to report to the leaders in the next summit.

Chinese President Xi Jinping called the expansion “historic” and said it would bring “vigour” to the bloc. The group comprises Brazil, Russia, India, China and South Africa.

SA, UAE, Iran are now in Brics.

1st, 3rd, and 5th OPEC members by production.

It’s literally over for the Fed.

Iran, Saudi Arabia and the UAE joining is actually a huge deal.

All they need now is Venezuela and maybe Qatar or something and that’s basically all of the major oil producing nations in the world besides the USA and Canada.

+ Russia as one of the largest oil producers

+ Egypt with the Suez canal

It’s a geopolitical catastrophe for NATO if they can pull it off.

 I expect some heavy retaliation in those countries, someone is going to get couped.

I for one welcome this. 

The world has grown too decadent and degenerate with the US at the helm.

 Too long has US been in absolute power, which has bred too much corruption and its benevolence has turned to malevolence. 

Happens to any great power that remains unchecked for decades and decades.

You did this to yourself, America. 

The West is up for a rude awakening.

 Now it remains to be seen if The Great Satan (US) will chimp out or change its ways in foreign policy to pull back to it’s former somewhat benevolent state.

 

 

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