Hold onto your wallets, patriots! Vladimir Putin, Russia’s strongman president, just dropped a bombshell announcement at the BRICS Summit, proclaiming that the downfall of the U.S. dollar is not only inevitable but “irreversible.” And why couldn’t he grace the summit with his physical presence? He’s avoiding an International Criminal Court arrest warrant, of course.
Broadcasting his audacious claim via livestream, Putin emphasized that the movement to dismantle the dollar’s global stronghold is “gaining momentum.” According to him, there’s no amount of Western “pearl-clutching” or saber-rattling that can alter this “objective and irreversible” course. Are we supposed to believe this?
China’s Emperor-in-Waiting, President Xi Jinping, is also salivating at the thought of BRICS (Brazil, Russia, India, China, and South Africa) becoming a geopolitical powerhouse to rival our Western-led G7. And if numbers are to be believed, BRICS nations hold 26% of global GDP, slightly edging out the G7 when adjusted for purchasing power.
In the last ten years, investment between these so-called ’emerging’ BRICS nations has exploded sixfold, and their global exports now account for a full 20% of the worldwide total. Just what is their endgame here?
But wait, it gets better. Putin couldn’t resist throwing potshots at the U.S. and the West, condemning what he calls “illegal sanctions” over Russia’s invasion of Ukraine. Let’s not forget: Putin claims he’s liberating Ukraine from U.S.-run bioweapon labs, while the West accuses him of land theft.
Putin, still playing the victim card, claims these sanctions are a burden on the international economy and condemns the “unlawful freezing of sovereign states’ assets.” According to him, Western sanctions are the culprits for the global food shortage. Are we the bad guys or is this more Russian propaganda?
While Xi Jinping gave the BRICS Summit a miss with no explanation, his foreign ministry is hyping up the summit as a “milestone.” They, along with Russia, aim to make BRICS a potent rival to the G7. One unnamed Chinese official was even bold enough to suggest that if BRICS could match G7 in terms of global GDP, “our collective voice in the world will grow stronger.”
The question looms large: are we staring down the barrel of a new world order led by Russia and China? If so, can anything be done to stop this financial juggernaut and save the U.S. dollar?