Chinese President Xi Jinping (C) delivers the speech ahead of the signing ceremony of BRICS Business Council at 2017 BRICS Summit in Xiamen, Fujian province, China September 4, 2017. REUTERS/Kenzaburo Fukuhara/Pool
Pepe Escobar, Asia Times: The real BRICS bombshell
Putin reveals 'fair multipolar world' concept in which oil contracts could bypass the US dollar and be traded with oil, yuan and gold.
The annual BRICS summit in Xiamen – where President Xi Jinping was once mayor – could not intervene in a more incandescent geopolitical context.
Once again, it’s essential to keep in mind that the current core of BRICS is “RC”; the Russia-China strategic partnership. So in the Korean peninsula chessboard, RC context – with both nations sharing borders with the DPRK – is primordial.
Beijing has imposed a definitive veto on war – of which the Pentagon is very much aware.
Pyongyang’s sixth nuclear test, although planned way in advance, happened only three days after two nuclear-capable US B-1B strategic bombers conducted their own “test” alongside four F-35Bs and a few Japanese F-15s.
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WNU Editor: You have to scroll down in the above post to get to the story .... but I agree with this author's analysis .... Russia/China/Iran/etc. are now positioned to start trading oil contracts without using the U.S. dollar. And how will they do it .... by using the new triad of oil, yuan and gold to guarantee their contracts. What does this mean .... in short .... the days of the U.S. currency being the reserve currency of the world is slowly coming to an end.
2 comments:
I've been pointing out this for a long time. We need to be preparing for the inevitable end of the US dollar as world reserve currency. The only question is will it be a hard landing or a soft landing for the US.
With proper planning and execution it can be a soft landing. I've recognized the dolllar's inevitable end as world reserve currecncy since 1999. US leaders should have been planning for this since at least that time. Unfortunately we haven't been and have lost much time. Better relations with Russia and China will definitely be needed.
This has been talked about since 2004/2005 or before.
Soros for one has proposed it.
This has an upside for the U.S.
Whenever the sick, twisted, demented Democrats deficit spend, inflation will result.
That is the days of printing money will be over.
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