MovieChat Forums > Politics > BRICS Plan to Weaken Dollar

BRICS Plan to Weaken Dollar

posted 3 months ago by Keelai (35380)
9 replies | jump to latest

For decades, the U.S. has weaponized the U.S. dollar against other nations. Now, those nations are uniting to find a way to end U.S. hegemony that has lasted so long. Not great news for the U.S. economy.

"Many hope that as the US dollar's dominance starts to decline, its influence over the world, including the Arab world, will also decline

Since 1944, the hegemony of the US dollar over all other world currencies has allowed the US to influence and, in many ways, control the policies of most developing countries, including in the Middle East.

For decades, the US has maintained a global edge in terms of military power, technological development, and control over natural resources. However, economists believe that the dollar - considered to be the sole global reserve currency - is one of the most crucial elements of US hegemony, especially over countries with emerging economies.

This fact has been most acutely felt over the last 12 months as the global community has been unable or unwilling to challenge US policies and stop Israel's genocide in Gaza.

The US has imposed its policies on much of the Arab world through foreign and military aid for countries such as Egypt, Jordan, Iraq, and other poor countries in the region.

Wealthier countries like Saudi Arabia and the UAE have prioritised their interests with the US and thus have not taken any meaningful action to end the ongoing aggression in Palestine and Lebanon.

If Brics adopts a unified currency, it would be a pivotal and strategic move that would further weaken the US dollar's position

However, in recent years, Brics nations have increased their gold shares, with leaders seeking to reduce their countries' reliance on the US dollar.

Even European Union members, including the German foreign minister, recently expressed their desire for an EU-based payments system, absent the dollar and independent of the US.
https://www.middleeasteye.net/opinion/can-brics-end-us-hegemony-middle-east

This is the detailed BRICS Blueprint in pdf form:
https://yakovpartners.ru/upload/iblock/9c2/ci594n0ysocxuukw7iliw6qtr4xz6cc4/BRICS_Research_on_IMFS.pdf

Finally, I came upon this Chinese article titled "US Hegemony and Its Perils". It explains how BRICS formed to end U.S. dominance and allow more power and financial stability to other countries. "The Kremlin leader wants to use the [2024 BRICS] forum to challenge the West and advance his idea of a "multipolar world" as a bulwark against U.S. "hegemony."

This article details the many reasons why the world hates us in sobering detail. It basically discusses the death toll from our wars, how we destabilize other economies to remain #1 including with our allies, how we blackmail countries through our sanctions, our hypocrisy about free trade, hypocrisy about democracy, ignore international law when it doesn't suit us, etc..

Interestingly, the U.S. attempted ban of TikTok is mentioned. I repeatedly have heard U.S. politicians upset that American youth learned about Gazan suffering on TikTok which makes it sound like that's the real reason for the ban. So much for free speech. A criticism that I've heard on the MC forum, too! Anyway, this article is an interesting, and sad, read:
http://ws.china-embassy.gov.cn/eng/xwdt/202303/t20230302_11033825.htm

[–] Skavau (15993) 3 months ago

>Finally, I came upon this Chinese article titled "US Hegemony and Its Perils". It explains how BRICS formed to end U.S. dominance and allow more power and financial stability to other countries. "The Kremlin leader wants to use the [2024 BRICS] forum to challenge the West and advance his idea of a "multipolar world" as a bulwark against U.S. "hegemony."

"A chinese article"

It's on the Chinese embassy site, and on state media. It's directly from the CCP Keelai.

[–] Keelai (35380) 3 months ago

The point of the article is to understand why countries are lining up to join BRICS and weaken the U.S. dollar. Some of those countries are our allies. What is their beef with us? What is their opinion of us?

I detest Putin, his ideology and his imperialism. I read the article. And I still detest Putin, his ideology and his imperialism.

But, if you believe you're too weak-minded to read an article, then don't.

[–] Skavau (15993) 3 months ago

Yes, they object to the fact that we have lots of allies and intervened in the Korean War, Kosovo and support Taiwan (amongst many others). Hell, they even likely hold grievances over the Falklands. Russia (and by extension China) objects to "NATO expansionism" and lets be clear, NATO itself.

They object to the many good things the USA/west has done too.

[–] Keelai (35380) 3 months ago

"... many good things the USA/west has done too."

From our perspective. What's "good" can be a difference in ideology, values or worldview and "bad" to someone else. I want to distinguish between what's genuinely good from a difference of opinion or bad but promoted as good.

Definitely good:
Defeating Hitler was the best thing we ever did. He, his ideology and goals were pure evil. Ending the genocide in Kosovo was also good. I vaguely remember Pres. Clinton was attacked for doing the correct thing.

Other things you listed appear to be in a gray area like the Korean War which was a conflict over ideology - a matter of opinion.

Some of the things China says I already knew from past news reports and events, but there are plenty of new things I just learned like harming our ally Japan's economy and real reason for banning TikTok. It's not a great feeling to realize that one's country is selflessly causing so much strife globally. Zero sum game mentality?

On the one hand I understand their motive for BRICS, on the other I'm not too happy about my nestegg being threatened by it.

Putin is a crook, sociopath and expansionist with a dangerous ideology, therefore I agree with supporting the Ukraine war and keeping him in check. Other than that, I'm having a problem finding the good things that we are doing. Can you name a few since you suggest there are plenty?

Btw, I appreciate your last response. I was hoping for an interesting exchange about BRICS.

[–] Skavau (15993) 3 months ago

>Other things you listed appear to be in a gray area like the Korean War which was a conflict over ideology - a matter of opinion.

Really. You think North Korea is just a shade of grey in comparison to South Korea now? Keep in mind that North Korea started that conflict.

>Some of the things China says I already knew from past news reports and events, but there are plenty of new things I just learned like harming our ally Japan's economy and real reason for banning TikTok. It's not a great feeling to realize that one's country is selflessly causing so much strife globally. Zero sum game mentality?

And you just take Chinese state medias glib assessment of Japan's economy and how the USA directly tried to harm it purely at face value, do you?

TikTok still isn't banned in USA.

Would you like to know how many websites China has banned?

>Putin is a crook, sociopath and expansionist with a dangerous ideology, therefore I agree with supporting the Ukraine war and keeping him in check. Other than that, I'm having a problem finding the good things that we are doing. Can you name a few since you suggest there are plenty?

Intervening in Korean war, saving the South Koreans from being subject to hereditary pseudo-communist state. Protecting Taiwan. Kosovo intervention. Falklands intervention (UK here). Allowing Eastern Europe to join NATO.

[–] Keelai (35380) 3 months ago

Your list is good. I just thought of a few good U.S. things:

music (jazz, rock & roll, blues, swing, gospel, country, rap, salsa, etc.); TV series; movies; food/dessert (chocolate chip cookie, ice cream cone, apple pie, hotdog, ethnic and regional like Southern, TexMex, Chinese-American); plants (potato, corn, beans, tomato, sunflower, blueberry, pecan, etc. not exclusive to U.S.), inventions (internet, flight, GPS, transistor, robotics, film assembly line, virtual reality, 3D printing, etc), fashion (blue jeans, high-top sneakers, nylon, spandex, zipper, pantyhose), American democracy and Bill of Rights based on Iroquois Confederacy, medicine (smallpox vaccine, penicillin, insulin, anesthesia, etc.), art, books, newspapers.

The U.S. can be positive when it comes to sharing culture, arts, tech, inventions and innovation. We used to invite the world to immigrate and contribute. No surprise that many innovations are from immigrants.

What hurts the U.S. is our form of extreme capitalism (money above all else and zero-sum game) and huge profits from warfare and crime which promote both nationally and internationally.

1950s Korean War was communism v capitalism. Ideology.
Communism was an experiment to help poor people, but was poorly executed and mainly failed.

Isn't the historical mindset that one (inherited) ruler knows best how to lead a country instead of many different voices (democracy) that would introduce chaos and incoordination? A country with a singular focus can achieve more than everyone with a different agenda fighting among themselves. A different viewpoint than ours.

We're assuming that the average North Korean, Cuban, Middle Easterner, etc is unhappy because that's what we're told by our government and media instead of attempting to find out the truth for ourselves. I believe their cultural values are different and they're basically happy. Not everyone wants to drive a Rolls Royce. If unhappy, people find a way to make their discontent known.

"TikTok"
Pending in Court

"many websites China has banned"
They're not a democracy.

"And you just take Chinese state medias glib assessment of Japan's economy and how the USA directly tried to harm it purely at face value, do you?"

Nope! Reason I started topic was to learn the truth. But, U.S. has harmed economies in Cuba, Venezuela, Gaza, Haiti, Russia, etc.. It's our MO.

South Koreans make great movies and TV. I recommend "Crash Landing on You" about a SK woman who accidentally ends up in NK. A realistic portrayal of life in both countries.

[–] Skavau (15993) 3 months ago

>1950s Korean War was communism v capitalism. Ideology.

And yet the North Koreans started it. They invaded South Korea.

>We're assuming that the average North Korean, Cuban, Middle Easterner, etc is unhappy because that's what we're told by our government and media instead of attempting to find out the truth for ourselves. I believe their cultural values are different and they're basically happy. Not everyone wants to drive a Rolls Royce. If unhappy, people find a way to make their discontent known.

North Koreans don't have the option to just choose otherwise in life. They don't have access to the internet, or any kind of culture outside of their country. Their happiness, to the extent that it exists, is very much "ignorance is bliss". It's not about driving rolls royces, but fundamental freedoms.

Name me an opposition activist, journalist, commentator based out of North Korea or Cuba. Name me some active dissidents who openly scrutinise the Saudi regime.

[–] AviAAksenazi (670) 3 months ago

Good post by Keelai

[–] Keelai (35380) 3 months ago

Thanks!