The weaponization of the dollar during the past few decades has forced nations to reduce their reliance on the currency,” Mokhber said, pointing out that the U.S.’s influence around the world is seriously threatened by the dollar’s decline.
END of the Dollar: SCO Nations to Abandon USD, Shift to Domestic Currencies for Financial Transactions
The United States dollar (USD) could suffer another huge blow that could send it down the drain as heads of the Shanghai Cooperation Organization (SCO) member states have made a landslide decision to conduct the majority of transactions in national currencies instead of the American dollar, following Iranian President Ebrahim Raisi’s proposal to ditch the dollar eventually.
Raisi warned against the world’s dependency on USD in global exchanges and pointed out the importance of de-dollarization to form a just international system, during a speech at the July 4 virtual 23rd SCO summit that was held after Iran gained full-fledged membership in the bloc.
“Based on the experience of the past decades, it is now obvious that militarism and the dominance of the dollar form the bases of the Western domination system,” the president stressed. “Therefore, any attempt to shape a fair international system requires the removal of this instrument of dominance in intra-regional relations.”
Global take down of the American empire shifts into HIGH GEAR – NaturalNews.com This cryptocurrency will reportedly be decentralized, meaning that no nation can alter its ledger or print more coins (i.e. money) out of thin air. The fact that this BRICS-based ledger cannot be counterfeited will give it intrinsic value that will instantly make it a better store of value than the US dollar (which is losing purchasing power by the day). We can expect a rapid adoption of the BRICS cryptocurrency system by the nations of the world. And when those nations no longer need dollars to carry out transactions with other nations, they will dump the dollar.
Since they no longer need dollars, they also don't need dollar-denominated debt instruments. This means international holders of US treasuries will offload them, causing a supply glut of treasury debt instruments on the open market, making it far more expensive for the U.S. Treasury to try to auction new debt instruments that provide funding for the government's debt habit. And just like that, America's annual cost of servicing its own national debt will skyrocket into multiple trillions of dollars. Before long, the mad money printing machine will be cranking out dollars just to buy up treasuries so that the bankrupt government can service its own exploding debt with counterfeit money. This is a lot like a dog eating its own tail... and gagging with every bite.
The end result will be hyperinflation (of the prices of goods and service) combined with rapid devaluation of the dollar currency, which will ultimately go to zero.
This process won't happen overnight, but it will accelerate in a geometric fashion that will take most people by surprise. By the time they figure out their dollars are worthless, it will already be too late to head for the exits and convert those dollars to something else. Like gold, silver or crypto, for example.
In today's Brighteon Broadcast News, I cover this and more with Dave Hodges from The Commonsense Show:
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De-dollarization "Irreversible" - Putin Tells BRICS Summit In Remote Address
by Tyler Durden
Wednesday, Aug 23, 2023 - 05:44 AM
Update(1704ET): In their inaugural day 'family photo', BRICS leaders posed without Russia's President Putin, as FM Lavrov took his place given the ICC arrest warrant and Rome Statute would require the South African government to seek his arrest.
Putin addressed the summit remotely, and emphasized in the Russian-language speech that de-dollarization is "gaining momentum". He said the dollar's receding global centrality is an "objective and irreversible" process. As expected he struck an optimistic tone about the bloc's future, also at a moment China's XI is urging BRICS to become a geopolitical rival to the G7:
2023 BRICS Summit | Chinese Embassy briefs media ahead of summit
South Africa will be hosting the 15th BRICS Summit next week. It's expected foreign dignitaries and business leaders from across the globe will attend. Today the Chinese Ambassador to South Africa, Chen Xiaodong held a briefing ahead of the summit next week. eNCA senior reporter Aviwe Mtila was there.
Brighteon Broadcast News, May 17, 2024 – Russia and China dump treasuries and dollars, 90% of trade REJECTS the dollar
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3 MINS AGO: Japan's BIG Decision Shocked the U.S.: What the Hell is Going On?
The US economy faces a critical moment as Japan, historically one of the largest holders of US Treasury Securities, divests billions from its US bond holdings. With Japan's Treasury reserves shrinking from $1.87 trillion to $1.128 trillion in just months, the implications for US financial markets and the dollar's global dominance are alarming. Rising yields, de-dollarization trends, and Japan's shift to domestic assets signal a turning point for global economic stability. Could Japan's move be the beginning of a larger trend? Watch to explore the potential consequences for the US economy and beyond.
