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Biden takes the dollar down
When Barack Hussein Obama said, “Don’t underestimate Joe’s ability to fuck things up,” it was not a warning; it was a guarantee. Likewise, when former DOD chief Robert Gates said Biden has “been wrong on nearly every major foreign policy and national security issue over the past four decades,” this was not a criticism but a selling point. If you want America to fail, there was no better man to endorse for president in 2020. Cackling Kamala was the best woman for the job.
The dollar is dying because of this. Let me explain.
The Biden administration with its drag queens and tokens allows the deep state to run things while the Big Guy pockets the bribes and falls up steps. He auctions off foreign policy to the highest bidder, which is turning the greatest empire of the 20th century into a bloated country being overrun by drug dealers and sex traffickers.
Oh he had help. Obama, Clinton and the Bushes enabled companies to export jobs to the point where America can no longer feed and clothe itself. My mother supported five children by working at a pill company. 60 years later, those jobs are in India and Red China.
But Biden has hastened our demise in a manner that will permanently disable our nation and leave our economy to the whims of Chairman Xi.
On Wednesday, Michael Maherrey reported, “China and Brazil recently finalized a trade deal in their own currencies completely bypassing the dollar, but that’s not the only bad news for the world’s reserve currency.
“Last week, a Russian official announced that the BRICS nations are working to develop a new currency, yet another sign that dollar dominance is waning.
“State Duma (the Russian legislative assembly) deputy chairman Alexander Babakov said the transition to settlements in national currencies is the first step. We’ve already seen this occur with recent oil deals between India and Russia being settled in currencies other than dollars.”
A summit in August is scheduled for the BRICS nations — Brazil, Russia, India, Red China and South Africa. Iran and Saudi Arabia likely will join them, as Chairman Xi got those two nations to agree to resume diplomatic relations.
This was a rebuke of America by Saudi, which had been an ally for nearly 90 years. It is not coincidental that after decades of bailing out the USA, the Saudis then announced a cut in oil production. Our boycott of Iranian oil officially is a moot point as Red China and India will openly purchase the oil and not pay in dollars.
The American media meanwhile is enjoying the indictment of a president over some minor squabble, promoting transvestism among children and giving a million bucks each to 50 million black people, which would easily double our national debt. The goal of reparations is not to make black people rich but to bankrupt the USA.
The West is in Lalaland when it comes to the threat of BRICS. I will let others worry about the World Economic Forum — a last gasp by rich European and American socialists to control the world. The real threat is the end of the U.S. Dollar. It could fall like the Reichsmark — Hitler’s money — but without firing a shot.
AJ Fabino of Benzinga wrote last week, “The world's confidence in the U.S. and its currency is one significant factor that bolsters the position of the USD. The American financial markets are some of the world's deepest and most liquid, thanks to the size and strength of the U.S. economy, open trade and capital flows, and a strong rule of law.”
Strong rule of law? What is Fabino smoking? The world views America as just another banana republic following the indictment of President Trump. Not that the world really cares. It mocks us because we are doing what we have clucked our tongues at other countries for doing. Our self-righteousness amuses them.
But the world also rises against American and European financial hegemony. Astrid Prange of Germany’s DW also whistled while passing the graveyard.
Prange wrote, “Predictions about the BRICS countries as the fastest growing economies haven't quite panned out. Instead, the alliance is now offering a diplomatic forum and development financing, outside of the Western mainstream.”
The whole point of BRICS is to replace Western financial institutions. It is a new world order, which is why it attracted the Saudis. That is a huge loss — a gift from Biden to Red China. The unprecedented seizure of yachts and mansions from Russian billionaires in the name of defending Ukraine shocked and alarmed the world. I keep saying Biden’s economic sanctions backfired, but it looks more and more like he nuked the dollar in the process.
This is a development that has been in the making for decades.
Antony Sguazzin of Bloomberg reported, “Jim O’Neill, the former Goldman Sachs Group Inc. chief economist who coined the acronym BRIC, said the bloc of nations that later adopted the name should expand and work to counter the dollar’s dominance.”
That was in 2009. South Africa joined making it BRICS. I doubt new members — and Chairman Xi is recruiting them — will change the acronym.
O’Neill said, “The U.S. dollar plays a far too dominant role in global finance. Whenever the Federal Reserve Board has embarked on periods of monetary tightening, or the opposite, loosening, the consequences on the value of the dollar and the knock-on effects have been dramatic.”
This is typical anti-American liberal gibberish. O’Neill sounds like a guilt-ridden white boy as he argued BRICS accounts for 42% of the world’s population, but its members have less than 15% of the voting rights in the World Bank and International Monetary Fund.
Let them set up their own international lending banks.
And they will.
In his story, Sguazzin said other possible BRICS recruits include Indonesia, Bangladesh, Vietnam, Pakistan, the Philippines, Mexico, Turkey, Nigeria, Egypt and Ethiopia.
Will they take in West Virginia too?
The new currency BRICS likely will just be the adoption of Red China’s yuan as the BRICS reserve currency, supplanting the dollar. Red China has the wealth and stable government that the USA once had but lost when President Bush 43 allowed Red China to join the World Trade Organization on 12/11 in 2001.
That came three months after Osama bin Laden’s destruction of the World Trade Center — the symbolic fall of our economy.
If you want to know why Obama and Gates fear President Trump, it is the threat to BRICS he posed and still poses. The supporters of a weak America know is better to have an incompetent and a crook in charge. With Biden, they have both.
Today’s TOTALLY SCIENTIFIC POLL — peer-reviewed by my cat.