You are viewing a single comment's thread.

view the rest of the comments →

0
1

[–] CrustyBeaver52 0 points 1 point (+1|-0) ago 

Big picture on the current dollar reserve currency situation:

The US Dollar was backed by gold bars and coins - Nixon undid that.

The US has $200 Trillion debt in long term obligations - Dollar starting to look unstable in world debt marketplace.

The US seizes Iraq - low estimates of oil reserves of Iraq = $200 trillion dollars

US Dollar is a Petro currency - you've heard of the Petro Dollar?

You won't accept dollars? How about some oil in barrels instead?

Yes the US has massive debt at the moment - it also has the means to repay that debt, in full, tomorrow.

The Brazil Russian India China gold reserve thing (BRICS) is more about US refusing to play by the same international rules they themselves set up for international trading. Abuse of the Swift system against Russia, for example. The other players have said, fine, if you wont play by the rules, we will build our own system, and they are doing just that. This act may actually serve to reinforce rule following behavior in the existing system, as there is now another option available if you don't like the deal.

The real danger to US hegemony is when the BRICs people move onwards to start building alternate global systems to the United Nations - another IMF, another World Bank, that sort of stuff. It is likely that will also happen. Perhaps even another military arm. This does a complete end run around the global system established by the Rothschild Rockefeller and global reserve banks - the New World Order people. This is nothing less than the creation of a second New Wold Order - controlled by other powers.