🧵 Can Save Trump Save the Dollar with Threats Against BRICS?
I cannot remember Trump ever talking about BRICS, but the first time he did was to threaten the multilateral organization with 100% tariffs, if it creates a BRICS currency.
Why?
I cannot remember Trump ever talking about BRICS, but the first time he did was to threaten the multilateral organization with 100% tariffs, if it creates a BRICS currency.
Why?
America’s prosperity depends on the “exorbitant privilege” of USD
This allows US to run massive budget and trade deficits every year.
Trump knows it.
"If we lose the global reserve currency status of the dollar, we will become a third-world country! "
This allows US to run massive budget and trade deficits every year.
Trump knows it.
"If we lose the global reserve currency status of the dollar, we will become a third-world country! "
In the past, US deep state & military would stage coups, assassinate leaders or invade countries if anyone decided to walk away from the dollar – Iraq and Libya, for example.
So much for freedom, choice, sovereignty, free trade, rules-based order, and free-market capitalism.
So much for freedom, choice, sovereignty, free trade, rules-based order, and free-market capitalism.
Trump does not talk about WHY so many countries want to join BRICS.
Two main reasons:
1. Weaponization of US dollar thru sanctions -- e.g., US stole $400 billion of Russia/s FOREX
2. Globalists use the dollar to create a military empire that causes perpetual wars & chaos.
Two main reasons:
1. Weaponization of US dollar thru sanctions -- e.g., US stole $400 billion of Russia/s FOREX
2. Globalists use the dollar to create a military empire that causes perpetual wars & chaos.
Ask Americans why the USD is the #1 choice for trade and FOREX, they will tell you it’s because the dollar is strong, enjoys vast liquidity, and US economy is free, open and the best.
That’s propaganda.
The dollar’s hegemony is based on tyranny. And it’s coming to an end.
That’s propaganda.
The dollar’s hegemony is based on tyranny. And it’s coming to an end.
Ask the British, Portuguese, Spanish, French etc. about the history of their currencies.
Nothing lasts forever, especially the global reserve currency status -- see chart below.
#Trump #BRICS
Nothing lasts forever, especially the global reserve currency status -- see chart below.
#Trump #BRICS
US dollar’s market share in global reserves was 0 before the end of WW1. That’s right -- zero, nada, zilch.
British Pound, German Mark and French Franc accounted for 80% of the global reserves.
WW1 weakened Europe & gave the dollar a chance, although the share started to dwindle during the Great Depression.
British Pound, German Mark and French Franc accounted for 80% of the global reserves.
WW1 weakened Europe & gave the dollar a chance, although the share started to dwindle during the Great Depression.
In 1944 -- midst of WW2 -- US brought world leaders to Bretton Woods, New Hampshire, and forced USD upon them.
The gold-backed dollar lasted for ~25 years.
USD almost died in the 1970s, when it was revived by a deal with Saudi Arabia – this was the birth of the Petrodollar.
The gold-backed dollar lasted for ~25 years.
USD almost died in the 1970s, when it was revived by a deal with Saudi Arabia – this was the birth of the Petrodollar.
Having one currency dominate the world is imperialism.
The multipolar train has left the station. Everyone is seeking alternatives to dollar.
This includes trading in local currencies and also trying to create a BRICS currency -- democratic and free from sanctions.
The multipolar train has left the station. Everyone is seeking alternatives to dollar.
This includes trading in local currencies and also trying to create a BRICS currency -- democratic and free from sanctions.
It's going to take some time for the US dollar to lose its "King" status.
Look how long it took for the British Pound to lose its status after WW2.
So, the dollar probably has another 10-15 years.
Look how long it took for the British Pound to lose its status after WW2.
So, the dollar probably has another 10-15 years.
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