Who could have expected the British Empire to fall while it was at its peak, untouchable and powerful. Yes, the Brits were also stealing the wealth of its colonies to prosper, US$40 trillion (or pounds) alone from India. The USA is today sucking in the products of blood and sweat of other nations, using its toilet papers in exchange. And yet, Trump is complaining that countries are ripping the USA off. When countries stop providing the USA with goods, let us see who had been doing the ripping. That day is coming, but Trump may not be around to witness it.
BRICS and SCO are doing an excellent job of providing an alternative for the Global South countries, providing them with a bigger trading bloc, cheaper, faster and more convenient, away from the control of the US$. Trade today is subject to huge losses in converting to and from the US$, benefitting the USA alone. Every country is waiting for the day when the US$ is no longer effective as a weapon to sanction any Tom, Dick and Harry just because they want an alternative fairer system to trade.
Anonymous
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Trump is too stupid to know that he is stupid. Having said that, Trump thinks all other country's leaders are stupider than him. When a push comes to a shove, more countries are deserting from the USA and embracing China. China, Russia and North Korea coming together was a godsend, all thanks to Trump. Now Iran and India are facing shoving by Trump and common sense will tell us where they will go next.
Trump wants the US$ to remain the reserve currency by feigning ignorance that the USA is ripping others off realistically, so that the USA can continue with the charade to benefit from the blood and sweat of other countries just printing toilet papers in exchange. Nothing is easier than having a printer to print a piece of paper in exchange for real goods. Like Red Dot's COE system, LOL.
What BRICS had and is doing is real trade, exchanging finished goods or development aid for raw materials or energy, not ripping off each other. It is really a winning proposition for parties inside BRICS engaging in deals with each other. And the icing on the cake is that they can do trade using their own currencies, Yuan for Rubles for example, ditching the US$ completely.
In the case of Iran, China is actually doing barter trade, to go even further backwards so to say, exchanging energy from Iran with development aid from China. Nobody is ripping off the other, which is another way to free themselves from the sanctioning regime. Venezuela could be the next country to do that with its oil export to China in exchange for development aid. Maduro was in China joining in the Victory Day celebrations and I would not think that any meeting between him and Chinese leaders is just for exchanging T-shirts. So does Indonesia, for two-way trade which will all be done outside the US$. De-dollarization is now of duo benefit for those who adopt the system to bypass the US$, and able to do business outside the US$ in their own currencies and avoiding sanctions going through SWIFT.
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