Using the dollar for political struggles dealt a blow to the USD that has not yet been felt. Freezing the assets of Russians sent a signal to the whole world that the USD may not be the safest place to park your money if you happen to be in an “unfriendly” nation. Even our own allies have begun downsizing their dollar reserves since.
The SWIFT system was never meant to be used as a political instrument. The objective here with BRICS is that both Russia and China object to the dollar being the reserve currency in the middle of geopolitical tension. Yet the Biden Administration has undermined everything by removing Russia from SWIFT. That set in motion the collapse of globalization, and it has shown to the world that the US now controls the SWIFT system, which renders it no longer politically neutral.
The BRICS alliance is stronger than ever before as nations are collaborating without the need for the dollar. This does NOT mean that they are planning to replace the dollar, a myth that Putin termed the “BRICS boogeyman” as the Western media portrays the organization as a major threat to global security.
However, its the yuan that will grow in strength, as we have seen with the slow death of the petrodollar. The BRICS partnership means that members are no longer dependent on Western energy, and eventually, no one will be dependent on Western trade or debt.
Every nation in the EU and North America has made decisions that directly hurt its own economy but are beneficial to the coming globalization that they wish to bring forth, as stated every year at Davos.“You can’t choose your neighbors like you can’t choose relatives,”
