Redrawing Global Power: The Rise of BRICS and the Dollar Dilemma - Part 01 episode artwork

EPISODE · Apr 14, 2023 · 1H 5M

Redrawing Global Power: The Rise of BRICS and the Dollar Dilemma - Part 01

from Hard Asset Money Show · host Christian Briggs

China and Russia have been developing a long-term economic partnership aimed at diminishing the power of the US dollar. They have gained momentum with other countries and have created a plan to destroy the US dollar by decoupling it from petro and commodity sales. As the dollar loses its value against foreign currencies, inflationary pressures increase. In addition, China's digital yuan is becoming widely accepted as a centralized form of payment, which contrasts with decentralized cryptocurrencies like Bitcoin. Centralized digital currencies allow for greater government control and monitoring of transactions, potentially leading to social credit scores and the ability to control citizens' access to resources. The BRICS coalition, consisting of countries like Brazil, Russia, India, China, and South Africa, has formed a strong and unified front to challenge the United States' economic and military supremacy. This coalition has signed long-term partnership agreements for both economic and military cooperation. Their goal is to weaken the United States economically, which would indirectly affect its military power due to a reduced defense budget. The consequences of their success could be severe for the US, both economically and militarily. The United States has historically been a champion of capitalism and minimal government intervention. However, as other nations such as China and Russia rise in power, the US faces challenges to its military and economic dominance. The adoption of centralized digital currencies and the increasing influence of the BRICS coalition could potentially weaken the United States' position on the world stage. In response, the US must adapt and find ways to navigate these challenges in order to maintain its economic and military supremacy.

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