Expanding BRICS to de-dollarise planet economy .

[luiza]

The next few months will advance global de-dollarisation by the inclusion of Iran , Saudi Arabia and the UAE into BRICS . Further new members are scheduled for later next year. Americas world economic and financial platform will quickly fade away and developing continents like Africa and South America will collectively breathe huge sighs of relief . Set up in 2009, the BRICS nations represent some 40% of the world’s population and significantly over a quarter of the world’s GDP. And now with Saudi Arabia, the UAE and Iran set to enter the fold, it will have three of the world's biggest oil producers.

In Putin's virtual address the day prior, he emphasized that de-dollarization is "gaining momentum". He said the dollar's receding global centrality is an "objective and irreversible" process.
* * *
As Statista observes it fresh recent analysis, Despite the aforementioned three failing to pull their expected weight, the five BRICS nations surpassed the G7 in terms of their combined GDP in 2020. That is when measured at purchasing power parity, i.e. adjusted for differences in buying power. According to the IMF, the bloc will collectively account for 32.1 percent of global GDP this year. That’s up from just 16.9 percent in 1995 and more than the G7’s share of 29.9 percent.

You will find more infographics at Statista
The rise of the BRICS nations, while not without challenges and disparities within the group, has led to increased calls for more inclusive and representative global governance, adding more weight to voices that deviate from the policies shaped by the Western-led G7. Nowhere has that deviation been more apparent than in the response to Russia’s invasion of Ukraine. While the G7 condemned the attack and imposed strict sanctions on Russia, none of the BRICS members have denounced Russia’s actions or joined in on the sanctions.
Bulk of OP from a report in the leading news source, Zero Hedge , earlier today .

 

[CrusaderFrank]

It's a little like the BRICS are goldfish and the US Dollar is the fish tank

 

[luiza]

It's a little like the BRICS are goldfish and the US Dollar is the fish tank

It is like you have not understood existing figures, let alone how it will look in the next 12-18 months .Forget your fish tank . Now the US is a Porpoise that is going to be ripped to pieces by Blue bottle nosed Dolphins. Simple fact .

 

[CrusaderFrank]

It is like you have not understood existing figures, let alone how it will look in the next 12-18 months .Forget your fish tank . Now the US is a Porpoise that is going to be ripped to pieces by Blue bottle nosed Dolphins. Simple fact .

I understand. The USA pumping Trillions into the market place the last few years has fueled massive inflation worldwide. Same way, collapsing the USA into an FDR Depression will have a decidedly unpleasant effect on the rest of the planet including BRICS nations

 

[okfine]

The stock market won't change from the US dollar

 

[luiza]

The stock market won't change from the US dollar

That is like saying that the shop is still open even though we have lost so many customers . But as the middle classes emerge in these growing countries the growth and profit opportunities in other stock markets will jumpat least pro rata . .

 

[jwoodie]

The US has enjoyed an economic benefit of at least 10% over other nations, due to the dollar being the world's reserve currency. When that ends, we will be in deep doo-doo.

 

[Dekster]

It is like you have not understood existing figures, let alone how it will look in the next 12-18 months .Forget your fish tank . Now the US is a Porpoise that is going to be ripped to pieces by Blue bottle nosed Dolphins. Simple fact .

LOL. Sorry Charlie, you be the tuna today. At most, BRICs is a threat to the world bank, not the US, and it has like 180+ member nations.

 

[luiza]

LOL. Sorry Charlie, you be the tuna today. At most, BRICs is a threat to the world bank, not the US, and it has like 180+ member nations.

We will see .You are already nearly on your own with that opinion . With the Wolrld Bank losing members to alternarive lending organisations and itself going bankrupt , BRICS will soon own and/or monopolise all major financial sources . The reception then given to the US will be interesting given that it is already bankrupt with its dollar presently holding no real value --as Deniers will soon readily see .

 

[Dekster]

We will see .You are already nearly on your own with that opinion . With the Wolrld Bank losing members to alternarive lending organisations and itself going bankrupt , BRICS will soon own and/or monopolise all major financial sources . The reception then given to the US will be interesting given that it is already bankrupt with its dollar presently holding no real value --as Deniers will soon readily see .

If the US dollar were "bankrupt" the third world pawns would be rushing to the IMF not the tiny little BRICS NDB. BRICS doesn't even have a standard currency and despite its premise, has the same crappy exchange rates as the IMF. The dollar still dominates 90% of forex transactions despite the 26% of global real GDP of the BRICS nations. Even the members of the FInancial Al Queda that is BRICS still prefer the dollar and the IMF. They are little more than a bunch of outcasts that are trying to pretend they are the cool kids wearing the same discount store jacket.

 

[RhodyPatriot]

I understand. The USA pumping Trillions into the market place the last few years has fueled massive inflation worldwide. Same way, collapsing the USA into an FDR Depression will have a decidedly unpleasant effect on the rest of the planet including BRICS nations

Russia sanctions didn't help either.

When you transform your currency into a punitive tactic to bludgeon others, eventually they're going to cut the cord.

I just thank goodness we have robust and wise leadership in the White House right now, ready to defend America and its people at every turn.

Fuck.

 

[MinTrut]

The next few months will advance global de-dollarisation by the inclusion of Iran , Saudi Arabia and the UAE into BRICS . Further new members are scheduled for later next year. Americas world economic and financial platform will quickly fade away and developing continents like Africa and South America will collectively breathe huge sighs of relief . Set up in 2009, the BRICS nations represent some 40% of the world’s population and significantly over a quarter of the world’s GDP. And now with Saudi Arabia, the UAE and Iran set to enter the fold, it will have three of the world's biggest oil producers.

In Putin's virtual address the day prior, he emphasized that de-dollarization is "gaining momentum". He said the dollar's receding global centrality is an "objective and irreversible" process.
* * *
As Statista observes it fresh recent analysis, Despite the aforementioned three failing to pull their expected weight, the five BRICS nations surpassed the G7 in terms of their combined GDP in 2020. That is when measured at purchasing power parity, i.e. adjusted for differences in buying power. According to the IMF, the bloc will collectively account for 32.1 percent of global GDP this year. That’s up from just 16.9 percent in 1995 and more than the G7’s share of 29.9 percent.

You will find more infographics at Statista
The rise of the BRICS nations, while not without challenges and disparities within the group, has led to increased calls for more inclusive and representative global governance, adding more weight to voices that deviate from the policies shaped by the Western-led G7. Nowhere has that deviation been more apparent than in the response to Russia’s invasion of Ukraine. While the G7 condemned the attack and imposed strict sanctions on Russia, none of the BRICS members have denounced Russia’s actions or joined in on the sanctions.
Bulk of OP from a report in the leading news source, Zero Hedge , earlier today .

This might help avert WWIII’s progress.

Or hasten it.

 

[22lcidw]

When a nation is top dog, it has a lot of leeway and has to do a lot of things to relinquish it. We are on that course. Other nations have collapsed doing what we have. However, we are the nation of last resort with safety investment concerns and have the world's strongest military. And both of those are threatened. The cost of our military is more and more expensive. We are being torn apart withing which will affect the stability of how strong our internal safety really is. So top dog gives us power on all competitors until we destroy ourselves. The sun never set on England. We are a more advanced version of them. And have an important added benefit of being in the Western Hemisphere.

 

[pknopp]

I understand. The USA pumping Trillions into the market place the last few years has fueled massive inflation worldwide. Same way, collapsing the USA into an FDR Depression will have a decidedly unpleasant effect on the rest of the planet including BRICS nations

Those with less to lose tend to take a long term view of things. Yes initially it will be bad but not as bad as it will be for the U.S. and then things get better for them.

 

[luiza]

Share of Oil Production​

Although the world is trying to move away from fossil fuels, the global oil market is still incredibly large—and BRICS is set to play a much bigger role in it. This is mostly due to the admission of Saudi Arabia, which alone accounts for 12.9% of global oil production.
Based on 2022 figures from the Energy Institute Statistical Review of World Energy, BRICS’ share of oil production will grow from 20.4% to 43.1%.

It’s worth noting that China has been pushing for oil trade to be denominated in yuan, and that Saudi Arabia’s acceptance into BRICS could bolster this ambition, potentially shifting the dynamics of global oil trade.

​

Who Else Wants to Join?​

According to Reuters, there are over 40 countries that have expressed interest in joining BRICS. A smaller group of 16 countries have actually applied for membership, though, and this list includes Algeria, Cuba, Indonesia, Palestine, and Vietnam.
As the group grows in size, differing opinions and priorities among its members could create tensions in the future. For example, India and China have had numerous border disputes in recent years, while Brazil’s newly elected President has sought to “kickstart a new era of relations” with the U.S.
One thing that is certain, however, is that a new acronym for the group will be needed very soon.

 

[luiza]

. The sun never set on England. We are a more advanced version of them. And have an important added benefit of being in the Western Hemisphere.

I admire your loyalty to a lost cause . My UK is much more devious and cunning than you can ever be .Our Intel Agency -- essentially MI6 -- is a quiet giant octopus with huge tentacles hidden by our supreme Diplomats making sure that this is never realised , let alone understood by aspiring foreigners . Never forget that the HQ of the Deep State is the City of London .Not London . Just the "Square Mile".

 

[citygator]

OP has a fundamental misunderstanding of the world economy. Here is the currency share of world trade. US Dollar… Euro… British Pound… Japanese Yen… then way back is Chinese RMB and no one else in BRICS is close. This is like the MAC football conference saying it is gaining share on the NFL.

 

[jwoodie]

Anyone care to update their prognostications?

 

[okfine]

That is like saying that the shop is still open even though we have lost so many customers . But as the middle classes emerge in these growing countries the growth and profit opportunities in other stock markets will jumpat least pro rata . .

The stock market freaks on any $US instability.

 

[luiza]

Anyone care to update their prognostications?

Moving faster than I thought likely .

The big move was the October 7 False Flag which is escalating toward an ME disaster .As forecast .

US will be drawn in and take yet another humiliating thumping . Beginning .

Dollar will have close to zero value in worst scenarios but if it avoids Civil internal disaster in parallel , it could hold devaluation at 50% , say , rather than 90% .

Sounds extreme . So let's see if Deep State really wants the US right out of the way or just a poor third best after Russia and China .

BRICS will expand and grow stronger regardless and so far that trend continues