America’s fall from supremacy: The Global South’s Campaign to dethrone the dollar

[Counselor706]

The U.S. dollar has dominated the world economy for nearly 80 years and has served as the principal reserve currency and unit for international trade—but now a conglomeration of the world’s emerging markets known as BRICS—Brazil, Russia, India, China, and South Africa—seek to topple U.S. economic supremacy by establishing a new currency.

As many as 19 other countries—including Egypt, Saudi Arabia, and United Arab Emirates—are aspiring to join the ranks of BRICS and catalyze a shift in the world economic order. BRICS was originally formed as a union of developing countries to address the marginalization faced by the Global South in areas such as security and trade. Though the original intent of this alliance was not to supplant the dollar’s hegemony, the quest to achieve multilateralism, escape U.S. sanctions, and dodge unfair trade regulations makes de-dollarization a crucial objective of BRICS.

The new currency will be used for trade among BRICS nations and eliminate the need for foreign countries to park transactions in dollar-denominated assets. BRICS countries will achieve economic independence and no longer be servile to the U.S. monetary system.

Political acrimony prevails between many BRICS nations, but the quest to de-crown the dollar is resolute, and countries are tabling their tensions to join forces against the United States on this one issue of mutual interest. Militarization on the Chinese-India border remains an unresolved point of violence and contention, and Egypt and Iran have endured severed diplomatic ties and decades-long estrangement; but the desire to usurp the dollar has inspired a wave of diplomatic rapprochement between BRICS members.

https://www.breitbart.com/politics/...lobal-souths-campaign-to-dethrone-the-dollar/

 

[ll74]

Isolationism policies have led to this.

 

[JohnnySavage]

Uncle Sam will still give handouts to the rest of the world in Dollars.

 

[John_von_Neumann]

The following content is sponsored by Monetary Gold, the official gold sponsor of Breitbart News.

Fuck off.

 

[Rotadom]

Uncle Sam will still give handouts to the rest of the world in Dollars.

Most of your friends and family are on government handouts, .

 

[Chernosoth]

America's fall is guaranteed and on schedule. Part of any empire falling is putting stupid and greedy people in charge, who make stupid mistakes and double down, until the wreckage is too severe to fix. During the supremacy the empire makes a long list of enemies, who are now glad to escape the empire's control and extortion, for a while, until the next empire rises.

 

[drusus]

The Euro is a relatively new currency that is actually used by several major economies, and that hasn't managed to usurp the US Dollar. Unless the gold is held by a central bank, the supposed value underpinning this new 'currency' is meaningless.

"The following content is sponsored by Monetary Gold, the official gold sponsor of Breitbart News."
Uh-huh.

"The U.S. economy sits in a grave and unprecedented state of danger, but with BRICS currency still in development, investors have time to diversify their wealth away from the dollar. The best time to buy gold is now."

Yeah. Sure it is.

 

[RandyRebecca]

Isolationism policies have led to this.

The opposite actually. It's US imperialist bullying of other countries that's causing this, especially so when they just seize entire foreign assets of countries when they feel like it, such as western sanctions on Russia and Britain stealing Venezuela's gold reserves. This sends out the signal to the world that assets in foreign countries, specifically assets from non-western countries that are held within western countries, are not safe, hence the growing clamor for "de-dollarization" and the weakening grip of US hegemony. While the US bulldozes things and pushes debt, China builds things and pushes investment. The US then wonders why so much of Latin America, Asia and Africa rebuffs them! Stop acting like a bull in a china shop would help.

Fuck off.

As opposed to Fox News or CNN? LOL.

 

[ll74]

The opposite actually. It's US imperialist bullying of other countries that's causing this, especially so when they just seize entire foreign assets of countries when they feel like it, such as western sanctions on Russia and Britain stealing Venezuela's gold reserves. This sends out the signal to the world that assets in foreign countries, specifically assets from non-western countries that are held within western countries, are not safe, hence the growing clamor for "de-dollarization" and the weakening grip of US hegemony. While the US bulldozes things and pushes debt, China builds things and pushes investment.

None of that is true. Our support for stability in the world economy and contribution to the world's needs breeds cooperation.

You're an idiot on foreign policy.

 

[RandyRebecca]

None of that is true. Our support for stability in the world economy and contribution to the world's needs breeds cooperation.

"Stability in the world economy" meaning whatever benefits Wall Street and the NATO military-industrial complex, meaning exploitation of working class people everywhere, especially in the third world. The "stability" you talk about is the stability of billionaire profiteering and exploitation.

You're an idiot on foreign policy.

 

[ll74]

"Stability in the world economy" meaning whatever benefits Wall Street and the NATO military-industrial complex, meaning exploitation of working class people everywhere, especially in the third world. The "stability" you talk about is the stability of billionaire profiteering and exploitation.

Nope. It means predictability that debts are paid and that supply chains aren't disrupted. We've contributed to that stability more than anyone else in the world and continue to lead the way. Russia has been in the lead.for disruption of the global market for quite some time now....And China continues to try and cheat their way to the top.

Our leadership on the global stage is what keeps world markets.going. Any deviation likely will be a mess.

 

[RandyRebecca]

Nope. It means predictability that debts are paid and that supply chains aren't disrupted. We've contributed to that stability more than anyone else in the world and continue to lead the way. Russia has been in the lead.for disruption of the global market for quite some time now....And China continues to try and cheat their way to the top.

Our leadership on the global stage is what keeps world markets.going. Any deviation likely will be a mess.

How much debt is the US in at the moment? How many trillions of $$$$$?

"Disruptor of global market"? Again, rich people's talk.

 

[John_von_Neumann]

As opposed to Fox News or CNN? LOL.

The dipshit OP elected to post a thread linking to sponsored content, thinking it served a political narrative, with a high likelihood OP never made that realization. And then you elected to defend it.

 

[ll74]

How much debt is the US in at the moment? How many trillions of $$$$$?

"Disruptor of global market"? Again, rich people's talk.

Capitalism is difficult for you, I get it. Global peace relies on the ability to move goods and services between countries.

That's not rich people talk - it's supply chain talk. The harder it is to predict how countries can get their goods and services to the people in their country, the steeper prices get and the poorer the middle and lower class becomes. Russia, for example, has fucked over Africa by bombing Ukranian grainery ports....so Africa is checking out other options. And the economies of Africa are reflecting this instability with uprisings and coups.

 

[RandyRebecca]

Capitalism is difficult for you, I get it. Global peace relies on the ability to move goods and services between countries.

That's not rich people talk - it's supply chain talk. The harder it is to predict how countries can get their goods and services to the people in their country, the steeper prices get and the poorer the middle and lower class becomes. Russia, for example, has fucked over Africa by bombing Ukranian grainery ports....so Africa is checking out other options. And the economies of Africa are reflecting this instability with uprisings and coups.

I think the Pentagon, the State Department, the CIA and the NED know all about coups. The number of coups that they've carried out, and attempted to carry out, dwarfs the rest of the world combined. Iraq 2003 set an entire region of the world ablaze and we are living with its consequences.

 

[phrodeau]

The US toppled Iraq’s government and forced Saddam Hussein into a rathole, so that petroleum would continue to trade in US dollars. I read that somewhere.

 

[ll74]

I think the Pentagon, the State Department, the CIA and the NED know all about coups. The number of coups that they've carried out, and attempted to carry out, dwarfs the rest of the world combined. Iraq 2003 set an entire region of the world ablaze and we are living with its consequences.

I get how cut and dry it is for you. Unfortunately, that's not how the world works. There's plenty of policies which hurt lots of people short term yet benefit majority long term. Some of those policies involve war. Some of those policies involve huge risks....JCPOA for example.....the Paris accords for example.

You're always going to have selfish rich fucks,

 

[Chernosoth]

the NED know all about coups.

Is that the National Endowment for Democracy? That's an acronym I haven't seen before.

 

[John_von_Neumann]

I think [...] the NED know all about coups. The number of coups that they've carried out, and attempted to carry out, dwarfs the rest of the world combined. Iraq 2003 set an entire region of the world ablaze and we are living with its consequences.

Путин благодарит вас за службу, товарищ.

 

[RobDownSouth]

The US toppled Iraq’s government and forced Saddam Hussein into a rathole, so that petroleum would continue to trade in US dollars. I read that somewhere.

"Teh Spice Must Flow!"

 

[RandyRebecca]

Capitalism is difficult for you, I get it. Global peace relies on the ability to move goods and services between countries.

Then it must be done on pro-working class, socialist terms, not on terms that merely enrich the billionaire bankers on Wall Street.

That's not rich people talk - it's supply chain talk.

The billionaires are waging class war against us all the time.

The harder it is to predict how countries can get their goods and services to the people in their country, the steeper prices get and the poorer the middle and lower class becomes.

All the more reason why countries should have their own industry and services, and all the more reason to fight against deindustrialization. The capitalist bankers in most of the western world don't fund industry anymore, as they outsource it all to cheap labor areas.

Russia, for example, has fucked over Africa by bombing Ukranian grainery ports....so Africa is checking out other options. And the economies of Africa are reflecting this instability with uprisings and coups.

NATO starting the war in Ukraine is what fucked them over. They just see it as collateral damage.

I get how cut and dry it is for you. Unfortunately, that's not how the world works. There's plenty of policies which hurt lots of people short term yet benefit majority long term. Some of those policies involve war. Some of those policies involve huge risks....JCPOA for example.....the Paris accords for example.

You're always going to have selfish rich fucks,

This war in Ukraine (and Taiwan in the future) is only about the US establishment trying to keep its hegemony across the world, using our taxes. They are even pushing us close to nuclear war. It's against the interests of the working classes across the world, including in the US.

Is that the National Endowment for Democracy? That's an acronym I haven't seen before.

Yes, that's it. The National Endowment for Democracy funds all sorts of right-wing groups, basically doing the stuff that the CIA once did directly.

Путин благодарит вас за службу, товарищ.

Я поддерживаю Ленина, Троцкого и большевиков, а не Путина. Я также поддерживаю Юджина Дебса.

 

[ll74]

Then it must be done on pro-working class, socialist terms, not on terms that merely enrich the billionaire bankers on Wall Street.

Good luck

The billionaires are waging class war against us all the time.

Rich people always have advantages. I doubt they know who the fuck you are.

All the more reason why countries should have their own industry and services, and all the more reason to fight against deindustrialization. The capitalist bankers in most of the western world don't fund industry anymore, as they outsource it all to cheap labor areas.

Global economies already exist. They give you cheap shit. Remove them and expect more problems.

NATO starting the war in Ukraine is what fucked them over. They just see it as collateral damage.

Russia started the war in Ukraine.

This war in Ukraine (and Taiwan in the future) is only about the US establishment trying to keep its hegemony across the world, using our taxes. They are even pushing us close to nuclear war. It's against the interests of the working classes across the world, including in the US.

Yes, you're delusional.

 

[RandyRebecca]

Good luck

Thank you.

Rich people always have advantages. I doubt they know who the fuck you are.

Without the working class and our labor, nothing in society moves. They'll know then.

Global economies already exist. They give you cheap shit. Remove them and expect more problems.

Like the rich capitalists starting total war?

Russia started the war in Ukraine.

Go back to the Euromaidan coup in 2013-14 and study Ukraine from there. 13,000+ people killed in the Donbass by Ukrainian forces in the 8 years from 2014-22 before the Russian invasion. NATO war games on Russia's borders. Can you imagine Russia doing war games in Mexico against the US, and the US not responding? LOL.

Yes, you're delusional.

Am I? So you confidently predict that there won't be increasing conflict between the US and China over Taiwan and over trade in the upcoming period?

 

[ll74]

Go back to the Euromaidan coup in 2013-14 and study Ukraine from there. 13,000+ people killed in the Donbass by Ukrainian forces in the 8 years from 2014-22 before the Russian invasion. NATO war games on Russia's borders. Can you imagine Russia doing war games in Mexico against the US, and the US not responding? LOL.

Why were they killed? War exercises happen in conflict areas all the time as a demonstration of willingness to act. Russia has those same exercises in conflict areas. It is not to escalate.

Am I? So you confidently predict that there won't be increasing conflict between the US and China over Taiwan and over trade in the upcoming period?

Without question Taiwan won't be a thing. Trade with China is always in conflict.

 

[VinnyVeritas]

Yeah, you should have run with BRICS and not the nebulous "Global South."

It sounds so antebellum...