Global South fighting to be free from American hegemony

 It is a no brainer that the US$ hegemony had been created for the rest of the world to be disadvantaged in so many ways. Why is there a need for the rest of the world wishing to trade with each other having to use their own currencies to buy US$ in order to enable their trade to go through. In the process, the USA and Western banks were able to rip them off with exchange rate conversion differentials. The same as using credit cards for purchases overseas, changing foreign currencies into US$ and then converting it back later to local currencies.

Having said that, it was no coincidence that the USA's dirty agenda were numerous, and the world had been stupid enough to agree. First was to enable Western banks to cream off the currency conversions both ways. Second, this enabled the USA to monitor the volume of transactions and the countries doing the trading and allowed the USA to plan their economic policies, such as what to plant in agriculture and how much to cater to next seasons demands. They could also monitor trade in other areas like metals, energy, raw materials and consumer products.

BRICS new system will do away with the expensive exchange loss conversion between local currencies and the USA, thus making trade between BRICS members cheaper and easier to be conducted. It also denied the USA the privilege of tracking who are involved in those trade, big or small. And the USA had no means to know how to tailor its foreign policy having to work on the blind, like in agriculture planning. The recent cancellation by China of 1.5 million tons of wheat purchases from the USA and Australia is one instance of how that is going to affect the global supply chain. The USA is not going to be playing the status of the food basket for the world. USA farmers are now at sixes and sevens trying to tailor demands, with China now sourcing cheaper food from Brazil and Russia, all done outside the US$. That is de-dollarization coming into focus globally.

Last and not least is the weaponization of the US$ hegemony working against the rest of the world. Time to put this evil out of business for good.

Anonymous