BRICS currencies versus Federal Reserve Notes
How global economic transformation will change the power structure
Source: CIS Summit MoscowAs we have discussed for some time, the movement begun by the original BRICS countries (Brazil, Russia, India, China, and [one year later] South Africa) to dedollarize their foreign trade will have a significant impact on the global power structure. Presently, we are seeing some of the key areas in which this movement—which has grown to include Iran, Egypt, Ethiopia, and the United Arab Emirates as members, with 30 more nations having applied for membership—is strengthening the economies of those participants and concurrently weakening the West, as evidenced in the articles below.
This trend raises a number of questions, such as: “How will this change the use of the Federal Reserve Note (FRN) as a weapon to subdue various nation-states?”; “What type of universal currency, sought by Russia and BRICS, would work?”; and, “How will this affect control over the West by the financiers who own the key central banks, such as the Fed?”
While the FRN (Federal Reserve Note) is clearly losing its dominant position as indicated by central banks holding less than 60% of their reserves in this currency, it still dominates among key trading partners, such as the UK, and much of the EU, as well as India, which continues to play both sides of the fence, using FRNs for Western trade while using local currencies for its BRICS trading partners.
If the present trend continues, we can expect the once-increasing integration of global foreign exchange to break into two somewhat separate exchanges, with certain countries, such as India and Turkey working both sides. In the short term, this will continue because of the disparity in the value of labor in these separate camps. The BRICS countries will benefit the most from this, as the value of their currencies will no longer be depreciated by Western economies that depend on cheap goods (made by cheap labor) from second- and third-world economies. This dual currency exchange will also be an inflationary factor in the West, and one not manufactured by the financiers for their own nefarious objectives (power, profit, propaganda, and population reduction), having to pay more for imported goods or having to pay more for goods whose manufacturing has been repatriated to the West, with more expensive labor costs.
The eventual culmination of this divergence will come about once the BRICS bloc, which has discussed the establishment of a new, universal currency, realizes that such a currency cannot be based on capital—as they now conceive, with various interest charges—but must be based on the value created by labor; i.e., money before it has been commodified via interest. This means the end of colonization of third-world countries (e.g., Africa, etc.) and the increase of the cost of labor and standard of living among the world’s poorest persons.
Only then will the BRICS movement, with the development of goods and services based on human values, be in a position to influence some of the poorer nations within the matrix of the banking cartel’s control and, eventually, the poor in the US, UK, and EU, etc. The one potential disrupting factor in this scenario is the attempt by the cartel to infiltrate and influence the process; for example, the request by Turkey, a NATO member, to join BRICS. As a workaround, at the recent BRICS summit in Russia, a new category of “associated partner countries” was created that does not include a vote in BRICS decision making. But there is still Brazil, an original member that has been captured by the cartel and is blocking Venezuela’s entry.
And this is how and why global economic and spiritual transformation will take place (see our book on this [here or here], and look for a second volume, now in the publication process) in the coming weeks):
BRICS to discuss new global financial system
The BRICS summit is being held in Kazan, southwest Russia this week. Moscow currently chairs the organization, which includes Brazil, India, China and South Africa, as well as Egypt, Iran, the United Arab Emirates and Ethiopia. More than 30 nations, including NATO member Türkiye, have applied to join the economic bloc, according to Russian officials. …
The system is believed to be immune to Western sanctions and could put an end to the dominance of the US dollar in international exchanges and transactions, the news agency said. According to the report, the new payment platform is based on blockchain technology and uses digital tokens backed by the national currencies of participating countries.
This format would allow such currencies to be easily and securely exchanged without the ubiquitous need for dollar transactions. The new platform reportedly also would rely on a network of commercial banks linked to each other through the central banks of BRICS countries.
The Commonwealth of Independent States (CIS), which consists of 12 countries, has settled 85% of cross-border transactions in national currencies. The CIS bloc, barely used the US dollar for trade settlements this year ushering into a new financial landscape.
The development is adding pressure on the US dollar as both BRICS and CIS are indulging in de-dollarization initiatives. The CIS consists of 12 countries including Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan.
BRICS- US Dollar Reserves Fall Below 60% For the First Time Since 1995
BRICS is brewing trouble for the US dollar reserves from all corners after the White House pressed sanctions on Russia in 2022. The alliance has been accumulating gold for two years and diversifying its central bank reserves with the precious metal. In the last 18 months, central banks of developing countries have combined bought 800 tonnes of gold. China has purchased a massive 225 tonnes of gold in the last 15 months alone.
Russia, China, and India are among the top buyers of gold and are driving the prices of the precious metal. “On a year-to-date basis, central banks have bought an astonishing net 800 tonnes, 14% higher than the same period last year,” reported the World Gold Council. This is leading to a fall in the US dollar reserves as BRICS is replacing it with gold in their central banks.
BRICS- US Banks Face $500B in Losses as De-Dollarization Grows
… the United States’ debt has continued to rise this year past its all-time high. The current debt nationwide sits at over $35.7 trillion. Over the last three days alone, the debt has surged by a noticeable $345 billion. The US government is currently paying $3 billion in interest on its debt per day. The increased debt and unrealized losses are only putting more pressure on the US economy, chagrin to US investors but to the pleasure of BRICS.
While the unrealized losses are only on the balance sheets, they could become a liability when the banks require liquidity. This puts the US banking system under pressure as BRICS continues dumping US treasuries and the dollar.
As the chair of BRICS for 2024, Russia proposed the creation of a BRICS Cross-Border Payment Initiative (BCBPI), in which members of the organization will use their national currencies to trade.
BRICS will likewise establish an alternative messaging infrastructure to circumvent the SWIFT system of interbank communication, which is overseen by the United States and subject to Western unilateral sanctions.
This “multi-currency system” will also include new mechanisms not only to de-dollarize trade, but also to encourage investment in BRICS members and other emerging markets and developing economies, including a BRICS Clear platform, a “new system of securities accounting and settlement”, and financial instruments denominated in national currencies. …
There are also plans for the establishment of a BRICS Grain Exchange and associated pricing agency, with centers for trade in commodities like grain, oil, natural gas, and gold, which can likewise be used to settle trade imbalances.
These proposals were outlined in the report “Improvement of the International Monetary and Financial System”, which was co-authored by the Ministry of Finance of the Russian Federation, the Bank of Russia, and the consulting firm Yakov and Partners. …The monopoly that the United States exercises over the IMFS ensures global demand for dollars, and has thus allowed it to run gargantuan current account deficits for decades, while weaponizing its currency to serve its geopolitical interests.
The US government is waging economic war around the world, and has imposed unilateral sanctions on one-third of all countries, including 60% of low-income nations.
Washington and its allies in Europe have likewise seized hundreds of billions of dollars of assets from their adversaries. The BRICS report included a list of countries whose reserves have been frozen by the West, including Russia, Venezuela, Iran, Syria, Libya, Afghanistan, and the DPRK (North Korea). …
To ensure Western dominance, there is an unspoken agreement that every president of the World Bank is a US citizen and every managing director of the IMF is European. To date, this pattern has continued, even while the global economy has changed very significantly.
As of 2023, the original five BRICS countries make up 32% of global GDP (measured at purchasing power parity, PPP), but have only 13.54% of voting shares in the IMF.
On the other hand, the G7 nations hold 41.27% of the voting shares in the IMF, despite the fact that they comprise just 30% of global GDP (PPP).
Below is an example of the Anglo-Euro-American banking cartel’s weaponization of its privately owned Federal Reserve Notes. Remember that in 2014 the US backed a coup d’etat in Ukraine because that nation had signed a favorable loan from Russia, which was then replaced by a usurious loan from the IMF. This is also when the cartel installed neo-Nazis in Kiev, who murdered 14,000 ethnic Russians in the next eight years, precipitating a call from the local ethnic Russians, who inhabit the eastern half of Ukraine, for intervention from Russia to stop the slaughter. The US still pretends this incursion was unprovoked.
Zelensky approves sell-off of Ukrainian state banks
According to local media, citing MP Yaroslav Zheleznyak, the legislation, adopted by the Rada on September 19, is aimed at reducing the state’s presence in the banking sector. This is one of the requirements of the World Bank and is a mandatory condition for providing loans to Kiev.
Ukraine’s $15.6 billion IMF loan program also calls for bank privatizations and these will be key to unlocking new tranches of aid.
This loan from the financiers, as well as their profit in armament purchases for their mercenaries being slaughtered in Ukraine, are the biggest reasons why they want to continue this war. On the other hand, it is obvious to everyone who has done their due diligence that NATO’s mercenaries are in retreat and may lose all of Ukraine if they don’t meet Russia’s and China’s conditions for a treaty.
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Speaking of Ukraine, apparently the financiers and their public-sector subsidiaries (the US, UK, EU, etc.) are interested in being targeted by Russian missiles as a result of their puppet Ukraine government firing their missiles into Russia.
Netherlands (NATO) allows Ukraine to use F-16s against targets in Russia
While senior officials in London have suggested that they have no issue with such a development, no official permission has apparently been given to Kiev so far.
Last month, Russian President Vladimir Putin said that the Ukrainian military is not capable of using sophisticated Western-made long-range missiles on its own. With this in mind, any such strike on targets deep inside Russia would require the direct participation of NATO military personnel, he added.
Putin warned that this would “significantly change the very essence, the very nature of the [Ukraine] conflict.”
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The on-going list of sabotage by the Anglo-Euro-American banking cartel’s intelligence operatives against any state or organization that operates outside of their control:
Nigeria- Third National Grid Collapse Leading To Nationwide Blackout
The Nigerian authorities revealed that Saturday’s national grid collapse was caused by an explosion of a current transformer at the Jebba transmission station, and an associated cascade of power plants shut down arising from the loss of load.
Cuba Gradually Recovers Electricity Service Nationwide
We’ve already covered the ongoing sabotage of Venezuela’s grid. Also, how’s this for attacking our collective memory, just like the Party using Orwell’s memory hole.
The Internet Archive is still down but will return in ‘days, not weeks’
The Internet Archive will come back within “days” following a cyberattack that brought down the organization’s vast digital library and the Wayback Machine, according to an update from founder Brewster Kahle. It’s been struggling due to a data breach and DDoS attack earlier this week that revealed the email addresses, screen names, password change timestamps, and other information associated with more than 31 million unique email addresses.
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As previously noted, Lebanon, like Gaza, is controlled by Iranian-supplied Islamic fundamentalists, Hezb’Allah in Lebanon and Hamas in Gaza. Hezb’Allah also has a significant presence in Jordan and Syria. Let’s be clear: Iran is a theocratic dictatorship that seeks to enforce Islam on the rest of the world via military action.
Lebanon slams 'blatant interference' over remarks attributed to Iran official
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The Real Reasons why Gaddafi was killed
Libya had no electricity bills, electricity came free of charge to all citizens.
There were no interest rates on loans, the banks were state-owned, the loan of citizens by law 0%.
Gaddafi promised not to buy a house for his parents until everyone in Libya owns a home.
All newlywed couples in Libya received 60,000 dinars from the government & because of that they bought their own apartments & started their families.
Education & medical treatment in Libya are free. Before Gaddafi there were only 25% readers, 83% during his reign
If Libyans wanted to live on a farm, they received free household appliances, seeds and livestock.
If they cannot receive treatment in Libya, the state would fund them $2300+ accommodation & travel for treatment abroad.
If you bought a car, the government finances 50% of the price.
The price of gasoline became $ 0.14 per liter.
Libya had no external debt, and reserves were $150 Billion (now frozen worldwide)
Since some Libyans can't find jobs after school, the government will pay the average salary when they can't find a job.
Part of oil sales in Libya are directly linked to the bank accounts of all citizens.
The mother who gave birth to the child will receive $5000
40 loaves of bread cost $0.15.
Gaddafi has implemented the world's biggest irrigation project known as the "BIG MAN PROJECT" to ensure water availability in the desert.
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Australian lawmakers admit they were misled into enforcing vaccine mandates
Legislators have called for an “urgent inquiry” and are demanding the “immediate suspension of mRNA vaccines globally”.
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We hope that you find our blog of value. If so, please feel free to share our articles and encourage others to sign up for our mailing list. Our last published work, 7 Steps to Global Economic and Spiritual Transformation, Volume I, Access to Tools, is available here and here. Volume II, Application of Tools, is in the process of being published. An earlier version of this sequel, published in 2019, is online in four sections, beginning here.