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Bretton Woods Conference (view source)
Revision as of 03:22, September 7, 2023
, 03:22, September 7, 2023→Petrodollar
The [[BRICS]] group, led by Russia and China began building an international finance and trading system that does not rely on dollars, that uses countries’ local currencies, gold, oil, or other assets to trade. The U.S. abuse of economic sanctions to [[blackmail]] and punish other countries that did not bend to America's will added to the impetus.
The [[BRICS]] group, led by Russia and China began building an international finance and trading system that does not rely on dollars, that uses countries’ local currencies, gold, oil, or other assets to trade. The U.S. abuse of economic sanctions to [[blackmail]] and punish other countries that did not bend to America's will added to the impetus.
If the world favours a second, gold-based settlement system and opts out of the fiat money dollar, which is no longer backed by value. This could lead to the end not only of dollar settlement, but also of the dollar imperium. The US has so far been able to pay for everything in the world with its freshly printed money that has no cover at all and to increase its prosperity in exchange for “[[fiat money]]”. If this were no longer possible, if the countries of the world no longer accepted worthless dollars, the [[USA]] would no longer be able to buy all the world’s goods with them, to pay for 900 billion dollars in [[military]] expenditure and to cover its financial [[deficit]]s. In this respect, the financial boycott against Russia and a counter-reaction by the world could result in the collapse of the dollar empire.
==References==
==References==