For several years, Russia and other BRICS member nations have been working on an alternative to the Western-controlled SWIFT international settlement system. Russia was banned from SWIFT following its invasion of Ukraine, but now there is a new system emerging from BRICS that threatens to make SWIFT obsolete.

If the new payment system is a success, it will render Federal Reserve Notes (FRNs) obsolete as well. The world will no longer be held hostage by the so-called petrodollar, which reports warn could have massive global market ramifications.

The West’s continued sanctions on Russia have only hastened the speed at which Russia is developing this new BRICS payment system. Its design will promote local currencies and alternative settlement methods that sidestep the U.S. dollar entirely.

Elvira Nabiullina, the governor of Russia’s central bank, says 159 countries are ready to adopt the new BRICS payment system once it goes live. It will serve as an expansion to Russia’s System for Transmitting Financial Messages (SPFS) platform as well as “an alternative to SWIFT.”

“Similar infrastructure exists in some other countries,” Nabiullina commented. “We are holding discussions on the interaction of such platforms, but here the interest and technical readiness of our partners are important.”

New payment system the priority theme of upcoming BRICS 2024 Summit

Viktoria Panova, the head of Russia’s BRICS Presidency Council, also commented that the priority issue at the upcoming BRICS 2024 Summit in October is the new BRICS payment system.

“Active efforts are underway to create a financial payment mechanism that would make cooperation between BRICS countries easier, maintaining their sovereign trade and economic exchanges,” she said.

“This issue tops the agenda because every member of the group sees it as important.”

Once the system goes live, it will provide immediate accessibility to all member nations. Once established, the system is also expected to result in expanding trade dealings for the alliance.

Depending on how well it works, there is also a solid chance that more countries will want to ditch the U.S. dollar and join themselves. Time will tell how quickly the world transitions away from U.S. dollar dominance into a new era of dollar-less global trade.

Last year’s BRICS Summit marked the first time in more than 20 years that the alliance grew. It started with Brazil, Russia, India, China and South Africa and has since added on the United Arab Emirates (UAE), Egypt, Iran and Ethiopia.

In just the past two years, BRICS has grown by leaps and bounds to become a real contender in the fight against Western hegemony. Instead of Western power dominating the planet, BRICS aims to create a global governance system of multipolarity, this being Russia’s envisioned new world order.

BRICS has increasingly made cryptocurrency its focus. Russia, the head of BRICS, recently passed legislation to legalize the use of cryptocurrency for trade settlements, which is enticing for the countries of the world to want to join.

Serbia is among the countries wanting to join BRICS next, along with Nigeria, Malaysia and Thailand. The 2024 BRICS Summit is expected to be “a massive one for the bloc’s continued growth,” to quote one media source.

It is only a matter of time before King Dollar gets reduced to rubble. Find out more at DollarDemise.com.

Sources for this article include:

• Watcher.guru (1)
• NaturalNews.com
• Watcher.guru (2)

So I am not optimistic about the future of the petrodollar at all.

But what some other sources reported about the petrodollar earlier this month was simply not accurate.

Let me start at the beginning.  According to Investopedia, petrodollars are “simply U.S. dollars accepted as payment by an oil exporter”…

Petrodollars are oil export revenues denominated in U.S. dollars. Petrodollars are not a distinct currency; they are simply U.S. dollars accepted as payment by an oil exporter.

Global crude oil exports averaged approximately 88.4 million barrels per day in 2020. That pace would generate annual global petrodollar supply of more than $3.2 trillion a year, assuming an average price of $100 per barrel.

Petrodollars are the primary source of revenue and wealth for many members of the Organization of Petroleum Exporting Countries (OPEC) as well as non-OPEC oil and gas exporters including Russia, Qatar, and Norway.

The fact that so many other countries all over the globe use the U.S. dollar to buy and sell oil is a major advantage to us.

Earlier this month, there was a flood of reports that the “50 year petrodollar agreement” between the United States and Saudi Arabia had expired and that the petrodollar was now dead.

But that wasn’t true.

As Peter C. Earle has accurately pointed out, there never was a formal treaty, there never was a formal expiration date, and Saudi Arabia has been trading oil for other currencies for a very long time…

Last week several reports suggested the termination of a US-Saudi petrodollar agreement, and speculated a Saudi Arabian move to sell oil on world markets in various currencies, including the Chinese yuan. The accounts were rife with inaccuracies: the Saudis’ have transacted in non-dollar currencies for decades, and there has never been a formal treaty, much less with a specified expiration date, governing the loose arrangement that has come to be called the ‘petrodollar system.’

Unfortunately, many of the false reports went viral, and Google searches for “petrodollar” spiked to unprecedented levels…

Almost immediately, Google searches for the term “petrodollar” spiked to the highest level on record dating back to 2004, according to Google Trends data.

But as speculation about an imminent end to the U.S. dollar’s global dominance intensified, several Wall Street and foreign-policy experts emerged to point out a fatal flaw in this logic: The agreement itself never existed.

At least, not in the way it was being described in the posts that had gone viral on social media.

This is why I take my time and do my research before I report something. It is so easy to be wrong, but it takes real work to develop a reputation for accuracy.

According to UBS Global Wealth Management chief economist Paul Donovan, the false story about the expiration of the petrodollar agreement “seems to have started in the crypto world”…

Paul Donovan, the chief economist at UBS Global Wealth Management, in a blog post said that the story had gained unexpected traction, serving as yet another example of the dangers of “confirmation bias.”

“The story seems to have started in the crypto world. Many crypto speculators desperately want to believe in the dollar’s demise,” said Donovan.

It is true that a “Joint Commission on Economic Cooperation” was established in 1974.

Originally it was only supposed to last for five years, but it was “repeatedly extended”…

The agreement referred to by Donovan is the United States-Saudi Arabian Joint Commission on Economic Cooperation. It was formally established on June 8, 1974, by a joint statement issued and signed by Henry Kissinger, the U.S. secretary of state at the time, and Prince Fahd, the second deputy prime minister (and later king and prime minister) of Saudi Arabia, according to a report found on the Government Accountability Office’s website.

The agreement, as initially envisioned, was intended to last five years, although it was repeatedly extended. The rationale for such a deal was pretty straightforward: Coming on the heels of the 1973 OPEC oil embargo, both the U.S. and Saudi Arabia were eager to flesh out a more formal arrangement that would ensure each side got more of what it wanted from the other.

At that time, the U.S. and Saudi Arabia very much needed one another.

Today, circumstances are quite different.

The U.S. is now much less dependent on foreign oil, and the Chinese have become one of the primary purchasers of oil from the Middle East.

Over time, more oil will be bought and sold in other currencies, but for the moment it is pretty much business as usual…

Oil has always traded in non-dollar currencies. In January 2023, Saudi indicated it was happy to negotiate oil sales in other currencies. The possibility changes little for financial markets. Saudi Arabia’s riyal remains pegged to the dollar, and its stock of financial assets are dollar focused. The dollar’s reserve status depends on how money is stored, not how transactions are denominated.

However, as I noted earlier in this article, we need to keep a very close eye on what the BRICS nations are doing.

Saudi Arabia has been deepening relationships with China, Russia and India, and that is definitely bad news for the U.S. dollar…

Owing to the US and Western Europe’s increasingly entangled alliances, and its own efforts to diversify away from dependence upon energy exports, Saudi Arabia has been increasing its diplomatic and economic engagements with China, Iran, Russia, nations considered primary US foreign policy adversaries. Recent moves toward accepting non-dollar currencies reflects broader geopolitical shifts away from US currency hegemony.

Of course the truth is that if we want to find the biggest enemy of the U.S. dollar all we need to do is to look at ourselves.

The rest of the world is rapidly losing faith in our currency because of what are own leaders are doing to it.

The U.S. dollar is no longer a stable currency.  We are creating, borrowing and spending trillions upon trillions of dollars, and if we continue to act with such extreme irresponsibility everyone else will eventually be forced to switch to new reserve currencies.

According to USdebtclock.org, our national debt will hit 46 trillion dollars on this day in 2028 if we continue to borrow money at the rate we are right now.

That is madness.

We are literally committing economic suicide, but most of the U.S. population is not interested in such warnings.

They just want our leaders to keep flooding the system with more money so that the party can continue.

Yes, the party will continue for a little while longer, but once the lights are finally turned off nobody will ever be able to turn them back on again.

Michael’s new  book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

After President Nixon severed the last link between the dollar and gold, his administration negotiated a deal with the Saudi government. The US would support the Saudi regime, including by providing weapons. In exchange, the Saudis would conduct all oil transactions in dollars. The Saudis also agreed to use surplus dollars they accumulated to purchase US Treasury bonds. The resulting “petrodollar” is a major reason why the dollar has maintained its world reserve currency status.

Also this year, China and Brazil made an agreement to conduct future trade between the countries using the countries’ own currencies rather than dollars. Brazilian President Lula da Silva has called on more nations to abandon the dollar.

This de-dolarization movement is driven in part by resentment of America’s foreign policy, including, in particular, the US government’s increasing use of economic sanctions. Dethroning the dollar from its world reserve currency status makes it easier for countries to ignore these sanctions.

De-dolarization will negatively impact the US government’s ability to manage its over 30 trillion dollars debt. With a few exceptions, there is still no real support in Congress for spending cuts. Republican leadership members may say they will not support a debt ceiling increase unless it is tied to spending cuts. However, after the Biden administration accused the Republicans of wanting to cut Social Security and Medicare, House Speaker Kevin McCarthy declared a reduction in spending on Social Security and Medicare — big drivers of the federal deficit — “off the table.” Similarly, despite the growing skepticism of foreign interventionism among Republicans, the military-industrial complex maintains a viselike grip on congressional leadership and the White House. Therefore, do not expect any reduction in military spending. Instead, the Pentagon’s budget will likely increase.

The Federal Reserve will face continuing pressure to monetize ever-increasing federal debt and keep interest rates (and thus the federal government’s borrowing costs) low. The resulting inflation will lead to more support for ending the dollar’s world reserve currency status. As more countries abandon the dollar, the Fed will become less able to monetize the federal government’s debt without creating hyperinflation. This will result in a dollar crisis and an economic meltdown worse than the Great Depression.

This crisis will lead to the end of the welfare-warfare-fiat currency system. While history suggests this will lead to the rise of even more authoritarian political movements, the growing popularity of libertarian ideas suggests the collapse will also fuel the further growth of the liberty movement. This could mean that the crisis leads to a restoration of limited government and an advancement of liberty. The key to taking full advantage of the opportunity presented by the crisis is to keep spreading our ideas. Fortunately, we do not need a majority; we just need a tireless, irate minority committed to the cause to regain our liberty.

Copyright © 2023 by RonPaul Institute. Permission to reprint in whole or in part is gladly granted, provided full credit and a live link are given.

The London Gold Pool was an agreement among central banks of the United States and Western European countries to stabilize the price of gold. The goal was to maintain the price of gold at $35 per ounce by collectively buying or selling gold as needed.

However, in 1967 the London Gold Pool collapsed due to a shortage of gold and increased demand for the metal. That’s because European central banks bought massive amounts of gold as they began to doubt the US government’s promise to back the dollar to gold at $35/ounce. The buying depleted the London Gold Pool’s reserves and pushed the price of gold higher.

In short, 1967 was the beginning of the end of the Bretton Woods international monetary system that had been in place since the end of World War 2. It ultimately led to severing the US dollar’s last link to gold in 1971. The dollar has been unbacked fiat confetti ever since—though the petrodollar system and coercion have propped it up.

The point is large global gold flows can be a sign that a paradigm shift in the international monetary system is imminent.

Central banks are the biggest players in the gold market. And now that we have just experienced the largest year for central bank gold purchases since 1967, it’s clear to me something big is coming soon.

And those are just the official numbers that governments report. The actual gold purchases could be much higher because governments are often opaque about their gold holdings, which they consider a crucial part of their economic security.

Today, I think we are on the cusp of a radical change in the international monetary system with profound implications. Yet, few are aware of what is happening and its enormous significance.

I suspect most people will be taken by surprise—and it won’t be a pleasant one. They’ll be the ones holding the bag for a failing monetary system.

But it doesn’t have to be a disaster for everyone… Those who get positioned properly ahead of this paradigm shift could make fortunes.

The Real Reason for China’s Massive Gold Stash

According to the Financial Times, the big buyers of gold in 2022 were China and Middle East oil producers. That’s not a coincidence, as these countries will be at the center of the changes to the international monetary system.

It’s no secret that China has been stashing away as much gold as possible for many years. China is the world’s largest producer and buyer of gold. Most of that gold finds its way into the Chinese government’s treasury.

Nobody knows the exact amount of gold China has, but most observers believe it is many multiples of what the government declares. Today it’s clear why China has had an insatiable demand for gold.

Beijing has been waiting for the right moment to pull the rug from beneath the US dollar. And now is that moment…

The key to understanding it all is Chinese President Xi’s recent historic visit to Saudi Arabia and other Gulf Cooperation Council (GCC) states to launch, in his words, “a new paradigm of all-dimensional energy cooperation.”

The GCC includes Saudi Arabia, Kuwait, Qatar, Bahrain, Oman, and the United Arab Emirates. These countries account for more than 25% of the world’s oil exports, with Saudi Arabia alone contributing around 17%. In addition, more than 25% of China’s oil imports come from Saudi Arabia. China is the GCC’s largest trading partner.

The meetings reflect a natural—and growing—trade relationship between China, the world’s largest oil importer, and the GCC, the world’s largest oil exporters. During Xi’s visit, he made the following crucial remarks (emphasis mine):

“China will continue to import large quantities of crude oil from GCC countries, expand imports of liquefied natural gas, strengthen cooperation in upstream oil and gas development, engineering services, storage, transportation and refining, and make full use of the Shanghai Petroleum and National Gas Exchange as a platform to carry out yuan settlement of oil and gas trade.”

After years of preparation, the Shanghai International Energy Exchange (INE) launched a crude oil futures contract denominated in Chinese yuan in March 2018. It’s the first oil futures contract to be traded in China. The contract is based on Brent crude oil, the global benchmark for oil prices, and is settled in cash.

Since then, any oil producer can sell its oil for something besides US dollars… in this case, the Chinese yuan. The INE yuan oil futures contract provides a new pricing benchmark for the global oil market, which the US dollar has traditionally dominated. By trading in yuan, the contract is expected to increase the use of the Chinese currency in global trade and reduce the reliance on the US dollar.

Its significance lies in its potential to shift the balance of power in the oil market away from the US and towards China and to increase the use of the Chinese yuan in global trade. There’s one big issue, though. Most oil producers don’t want to accumulate a large yuan reserve, and China knows this.

That’s why China has explicitly linked the crude futures contract with the ability to convert yuan into physical gold—without touching China’s official reserves—through gold exchanges in Shanghai (the world’s largest physical gold market) and Hong Kong.

PetroChina and Sinopec, two Chinese oil companies, provide liquidity to the yuan crude futures by being big buyers. So, if any oil producer wants to sell their oil in yuan (and gold indirectly), there will always be a bid.

After years of growth and working out the kinks, the INE yuan oil future contract is now ready for prime time. Xi wouldn’t promise the GCC large and consistent oil purchases if it wasn’t ready. Why is China purchasing oil and gas from the GCC in yuan important?

Because it undercuts the petrodollar system, which has been the bedrock of the US and international financial system since the Bretton Woods system broke down in 1971.

The Saudis Acquiesce and What Happens Next

For nearly 50 years, the Saudis had always insisted anyone wanting their oil would need to pay with US dollars, upholding their end of the petrodollar system.

But that all changed recently.

After Xi’s historic visit and bombshell announcement, the Saudi government isn’t hiding its intention to sell oil in yuan. According to a recent Bloomberg report:

“Saudi Arabia is open to discussions about trade in currencies other than the US dollar, according to the kingdom’s finance minister.”

In short, the Saudis don’t think the US is holding up its end of the petrodollar deal. So they don’t feel like they should hold up their part.

The Saudis are angry at the US for not supporting it enough in its war against Yemen. They were further dismayed by the US withdrawal from Afghanistan and the nuclear negotiations with Iran.

In this context, China swooped in and, after many years, finally compelled the Saudis to accept yuan as payment. It was bound to happen.

China is already the world’s largest oil importer. Moreover, the amount of oil it imports continues to grow as it fuels an economy of over 1.4 billion people (more than 4x larger than the US).

The sheer size of the Chinese market made it impossible for Saudi Arabia—and other oil exporters—to ignore China’s demands to pay in yuan indefinitely. The Shanghai International Energy Exchange further sweetens the deal for oil exporters.

Here’s the bottom line. Saudi Arabia—the linchpin of the petrodollar system—is openly agreeing not to sell its oil exclusively in US dollars.

It signals an imminent and enormous change for anyone holding US dollars. It would be incredibly foolish to ignore this giant red warning sign.

Even the WSJ admits such a move would be disastrous for the US dollar.

“The Saudi move could chip away at the supremacy of the US dollar in the international financial system, which Washington has relied on for decades to print Treasury bills it uses to finance its budget deficit.”

Ron Paul is an American politician and physician who has been a vocal critic of the current international monetary system for decades. Nixon’s move to end the dollar’s link to gold in 1971 initially motivated him to get into politics. He is known for his views on monetary policy, central banking, and the Federal Reserve. Ron Paul has written several books on these topics and advocated for a return to sound money and a gold-backed monetary system.

In short, Ron Paul knows more about the international monetary system than almost anyone alive.

He once gave a speech called “The End of Dollar Hegemony,” where he pointed out the one thing that would precipitate the US dollar’s collapse.

Here’s the relevant part:

“The economic law that honest exchange demands only things of real value as currency cannot be repealed.

The chaos that one day will ensue from our experiment with worldwide fiat money will require a return to money of real value.

We will know that day is approaching when oil-producing countries demand gold, or its equivalent, for their oil rather than dollars or euros.

The sooner the better.”

Here’s the bottom line. The end of the petrodollar system is imminent.

For over 50 years, this arrangement has allowed the US government and many Americans to live way beyond their means.

The US takes this unique position for granted. But it will soon disappear. There will be a lot of extra dollars floating around suddenly looking for a home now that they are not needed to purchase oil.

As a result, a lot of oil money—hundreds of billions of dollars and perhaps trillions—that would typically flow through banks in New York in US dollars into US Treasuries will instead flow through Shanghai into yuan and gold.

The end of the petrodollar system is bad news for Americans. Unfortunately, there’s little any individual can practically do to change the course of these trends in motion. The best you can and should do is to stay informed so that you can protect yourself in the best way possible, and even profit from the situation.

That’s precisely why I just released an urgent report on where this is all headed and what you can do about it… including three strategies everyone needs today.

• Click here to download the PDF now.
• Article cross-posted from International Man.

But those on the opposite side of the political aisle can sometimes be correct. They may not get it exactly right but I’ve found that those on the far left are often more aligned with the right on certain issues without even realizing it. Such is the case of this video and attached article by Camp. I’m leaving it together in its full left-leaning glory because I know my audience is smart enough to sift through the falsehoods to find the truths embedded in them. You’re not going to be indoctrinated into the Climate Change Cult anytime soon so I don’t mind exposing you to a little leftist fearmongering. Much of what he says about the Petrodollar and the billionaires’ responses to it are mostly accurate. With that said, here’s Lee Camp…

The ultrarich are prepping for doomsday right now. France is on fire. The U.S. ruling elite and the mainstream media they own are avoiding reporting on it. The American rich want to exploit the workers more and more, and facing the wrath of the “common man and woman” is their greatest fear. So they have been increasingly coming up with ways to avoid the guillotines.

The ruling class knows what’s coming: social instability caused by a combination of the climate crisis, banks failing, the soul-killing inequality of late-stage capitalism, and the impending dilution of the petrodollar.

So what’s going on here?

Think of it this way – When you’re on a ship or in a building, and you see all the rats running toward you, you know there’s some horrible s*** behind them because they’re the first ones to flee. You see rats running; you run with them! Well, the rats of our society are beginning to flee. The richest of the rich are making a run for it.

The rats, I mean the rich, are fleeing to higher ground or sometimes to multimillion-dollar underground bunkers.

The decline of the petrodollar is a major factor driving their fear. The U.S. has been able to control much of the world for close to a century because every country has needed to hold dollars in order to buy crude oil. The petrodollar system allowed the U.S. to create a virtually endless supply of dollars. They just printed whatever they wanted. A trillion dollars a year for the military? Easy. Trillion-dollar subsidies for Big Oil? Cool! Four trillion dollars for Wall Street crooks during the pandemic. Of course!

This didn’t create cataclysmic inflation because no matter how much they printed, there would always be demand for those dollars abroad. If almost any other country printed that much money, their currency would have collapsed faster than Morgan Spurlock’s career.

The petrodollar has given the U.S. immense power, and yet it’s never mentioned by the mainstream media.

Go ahead, listen to how often you hear the word “petrodollar” on CNN. It’s rarer than them saying the “C word” on a live broadcast! Capitalism.

The word “petrodollar” doesn’t even have its own English-language Wikipedia article! There’s a Wikipedia article for “Monsters vs. Aliens: Mutant Pumpkins from Outer Space.” There’s no petrodollar entry, but there’s an entry for “duck face.” There’s no petrodollar page, but there’s a page for Baron Gustaf Adolf Reuterholm – a man whose only accomplishment was acting as the de facto regent of Sweden in 1792.

Why can’t average people learn about the petrodollar? Because the greatest power of the U.S. is also its greatest weakness. The moment people question the petrodollar, they realize the truth. The U.S. only maintains control as long as the world is buying and selling a disgusting amount of fossil fuels and doing it in dollars. This fact cannot be talked about in the national dialogue. It’s also why the U.S. can never do anything about fossil fuel use. Joe Biden would race to the end times before he’d dare lift a finger to stop fossil fuels.

Now that countries like China, Russia, and Brazil are buying and selling more fossil fuels in other currencies, the good times for the petrodollar economy are coming to an end.

Some places are also taking the climate crisis seriously and getting off fossil fuels altogether. This means there is no possibility the dollar will maintain its power in the years to come.

The point is the ruling class sees the writing on the wall, and they are preparing for what comes next. They’re hoping their billions can help them escape reality.

Lee Camp is an American stand-up comedian, writer, actor and activist. Camp is the host of Behind The Headlines’ new series: The Most Censored News With Lee Camp. He is a former comedy writer for the Onion and the Huffington Post and has been a touring stand-up comic for 20 years.

Article cross-posted from Mint Press News.

However, in recent years, there has been a shift away from the petrodollar system as other countries and currencies have gained more prominence in the global oil trade. This shift can be attributed to several factors, including the rise of new oil-producing countries, the growing role of non-US currencies in international trade, and the declining role of the US dollar as the world’s dominant currency.

One of the major drivers of this shift is the growing economic power of countries like China and Russia, which have been actively seeking to reduce their dependence on the US dollar and increase their use of their own currencies in international trade. These countries have also been investing in infrastructure and making deals with other countries to facilitate the trade of oil in their own currencies, bypassing the US dollar.

Another factor contributing to the shift away from the petrodollar system is the increasing use of digital currencies and blockchain technology in international trade. These new technologies have the potential to greatly reduce the dependence on traditional currencies, such as the US dollar, in the global oil trade.

Despite these changes, the US dollar still remains the dominant currency in the global oil trade, and it is unlikely that it will lose its position as the primary currency in this market in the near future. However, the trend towards a more diversified global oil trade, with multiple currencies being used, is likely to continue.

In conclusion, the shift away from the petrodollar system is a reflection of the changing economic landscape, with new players and technologies emerging, and the increasing diversification of international trade. As the world moves towards a more multipolar economic order, it will be interesting to see how the role of the US dollar and other currencies evolves in the global oil trade.

This Article Written by ChatGPT

Editor’s Commentary: So, for those who may have noticed a shift in the tone of the article above compared to past articles I’ve posted regarding the petrodollar, it’s because this article was a trap. I wanted to see how many people could sniff out that this post was not written by a person. It was written by ChatGPT based on the query, “Write an article about the shift away from the petrodollar.”

I apologize for conning you, but until today I did not realize the sophistication and command of both language and context that this artificial intelligence engine possesses. It’s not a great article by any means, but it passes the smell test as a brief analysis of the current circumstance. It’s wrong on one note; the U.S. dollar DOES have a high chance of being usurped in the global oil trade in the near future. But outside of that, the article written by AI is practically indistinguishable from one written by a staff writer at a national publication.

This wakeup call (for me, at least) was prompted by an article I read and published about AI written in part by Frank Miele. I say “in part” because his was the first I’d ever read (as far as I know) that was written by ChatGPT. One can argue that if it’s able to improve just a bit, it could legitimately replace journalists. And it’s not just writers who should be concerned. AI’s ability to project life-like videos and “deep fake” representations of actual people means we could soon see the evening news written and reported completely by AI.

Again, I apologize for misleading you with the opening part of the article. It came as a shock to me and I felt it necessary to use the same element of surprise to hopefully wake others up to the dystopian future that may be in store for us if we don’t start pushing back now. Some may argue that it’s not that big of a deal, that artificial intelligence replacing some of our jobs will lead to better things for most. That’s the argument I’ve been hearing for a while and I don’t completely disagree… at first. But once we project how this all plays out, it becomes clear that continuing down this road could create a brand new existential threat against humanity. If there’s a 1% chance of it, I refuse to entertain the idea.

I, for one, will not be welcoming our new artificial intelligence overlords.

One of the key pillars keeping the dollar in place as the world reserve is its petro-status, and this factor is often held up as the reason why the Greenback cannot fail. The other argument is that the dollar is backed by the full force of the US military, and the US military is backed by the US Treasury and the Federal Reserve – In other words, the dollar is backed by…the dollar; it’s a very circular and naive position.

These sentiments are not only pervasive among mainstream economists, they are also all over the place within the alternative media. I suspect the main hang-up for liberty movement analysts is the notion that the globalist establishment would ever allow the dollar or the US economy to fail. Isn’t the dollar system their “golden goose”?

The answer is no, it is NOT their golden goose. The dollar is just another stepping stone towards their goal of a one-world economy and a one-world currency. They have killed the world reserve status of other currencies in the past, why wouldn’t they do the same to the dollar?

Globalist white papers and essays specifically outline the need for a diminished role for the US currency as well as a decline in the American economy in order to make way for Central Bank Digital Currencies (CBDCs) and a new global currency system controlled by the IMF. I warned about this years go, and my position has always been that the derailment of the dollar would likely start with the end of its petro status.

In 2017 I published an article titled ‘Saudi Coup Signals War And The New World Order Reset’. I noted at the time that the sudden power shift over to crown prince Mohammed Bin Salman indicated a change in Saudi Arabia’s relationship to the US. I stated that:

“To understand how drastic this coup has been, consider this — for decades Saudi Kings maintained political balance by doling out vital power positions to separate, carefully chosen successors. Positions such as Defense Minister, the Interior Ministry and the head of the National Guard. Today, Mohammed Bin Salman controls all three positions. Foreign policy, defense matters, oil and economic decisions and social changes are now all in the hands of one man.”

The rise of MBS was backed by the Public Investment Fund (PIF), a fund comprised of trillions of dollars supplied by globalists within Carlyle Group (Bush family, etc.), Goldman Sachs, Blackstone and Blackrock. MBS garnered the favor of the globalists for one specific reason – He openly supported their “Vision For 2030”, a plan for the dismantling of “fossil fuel” based energy and the implementation of carbon controls. Yes, that’s right, the head of Saudi Arabia is backing the eventual end of oil based energy, and part of that includes the end of the dollar as the petro currency.

In exchange for their cooperation, the Saudis are being given access to ESG-like funding as well as access to AI advancements and the so-called “digital economy.”  It sounds crazy, but there is much talk of AI developments to cure numerous health problems and extend lifespan.  With those kinds of promises, it’s not surprising that Saudi elites would be willing to dump the dollar and even oil.

In 2017 I noted that:

“I believe the next phase of the global economic reset will begin in part with the breaking of petrodollar dominance. An important element of my analysis on the strategic shift away from the petrodollar has been the symbiosis between the U.S. and Saudi Arabia. Saudi Arabia has been the single most important key to the dollar remaining as the petrocurrency from the very beginning.”

I believed that the threat to petro status would ultimately be spurred on by a proxy war between East and West:

“World economic war is the real name of the game here, as the globalists play puppeteers to East and West. It is a geopolitical crisis they will have created to engineer public support for a solution they predetermined.”

Back then I thought that such a proxy war would be initiated in the Middle East, possibly in Iran. However, it’s clear that Ukraine is the powderkeg the globalists have chosen, at least for now, with Taiwan being the next shoe to drop.

In the years since I made these predictions the relationship between Saudi Arabia, Russia and China has grown very close. Arms deals and energy deals are becoming a mainstay of trade and this has led to a quiet but steady distancing of the Saudis from the dollar. This past week, the dominoes were set in motion for dollar collapse when Saudi Arabia announced at Davos that they are now willing to trade oil in alternative currencies.

In response, Xi Jinping pledged to ramp up efforts to promote the use of the Chinese yuan in energy deals. This falls in line with another article I wrote in 2017 titled ‘The Economic End Game Continues,’ in which I described how conflict with Eastern nations (China and Russia) would be exploited to create a catalyst for the end of the dollar’s petro status.

The importance of the Saudi announcement cannot be overstated; this is the beginning of the end of the dollar. The dollar’s world reserve status is largely dependent on its petro-status. Without one, you cannot have the other. This is almost the exact same dynamic that led to the implosion of the British Sterling decades ago as the global petro currency which resulted in the rise of the dollar to take its place.

This time, though, it will not be a single foreign currency that takes on the role of world reserve, it will be a basket currency system controlled by the IMF called Special Drawing Rights, along with a single global digital currency that is yet to be named but is now under development.

The consequences of the loss of reserve status will be devastating to the US economy. It is the only glue holding our system together – The ability to defer inflation by exporting it overseas is a superpower only the US enjoys. The Fed can print money perpetually if it wants to in order to fund the government or prop up US markets, as long as foreign central banks and corporate banks are willing to absorb dollars as a tool for global trade. If the dollar is no longer the primary international trade mechanism, the trillions upon trillions of dollars the Fed has created from thin air over the years will all come flooding back to the US through various avenues, and hyperinflation (or hyperstagflation) will be the result.

This dynamic is already in play, as foreign holders of US debt and dollars have been dumping them at record pace since 2017. The process continues at a time when the Federal Reserve is cutting it’s balance sheet and raising interest rates, which means there is no longer a buyer of last resort.

This may be why multiple foreign central banks have renewed their purchases of gold reserves and are once again stockpiling precious metals. They seem to be well aware of what is about to happen to the dollar, while the American public is kept in the dark.

The effects of the decline of the dollar may not be immediately felt, or become obvious for another year or two. What will happen is consistent inflation on top of the high prices we are already dealing with. Meaning, the Federal Reserve will continue to hold interest rates higher and prices will barely budge or they may climb in spite of monetary tightening. Even in the face of a major recessionary contraction, which I predict will be triggered starting in April, prices will STILL remain higher.

All the while the mainstream media and government economists will say they have “no idea” why inflation is so persistent, and that “nobody could have seen this coming.” Some of us saw it coming, but only because we accept the reality that the dollar’s days are numbered.

Article cross-posted from Alt-Market.

Alternative Video Source:

Earlier this week, following a two-day summit with Saudi Arabia, South African President Cyril Ramaphosa confirmed that the oil-rich kingdom is likely to join the growing BRICS coalition consisting of core members Brazil, India, China, and South Africa.

“The Crown Prince (prime minister Mohammad bin Salman bin Abdulaziz al Saud) did express Saudi Arabia’s desire to be part of BRICS and they are not the only country,” said Ramaphosa, according to a Times Live report.

The bloc first met in 2009 and has always generally been seen as an economic alternative to the Western-dominated global economic order. Following Russia’s invasion of Ukraine, the West has pulled back engagement with and resources from Moscow, which is being seen as hastening the growth of BRICS as more countries flee the self-destructive left-wing cultural chaos of Western countries.

“We did say that Brics having a summit next year under the chairship of South Africa in SA, and the matter is going to be under consideration. A number of countries are making approaches to Brics members, and we have given them the same answer that it will be discussed by the Brics partners, and thereafter, a decision will be made,” Ramaphosa continued, according to Times Live.

In an assessment of the emerging situation, The Conservative Treehouse also noted: “A global financial and economic cleaving is underway created by the western nations chasing ideological climate change energy policy, while the rest of the world remains pragmatic toward oil, coal and natural gas as energy resources. Essentially, western governments’ following the ‘Build Back Better’ climate change agenda which stops using coal, oil, and gas to power their economic engine, while the rest of the growing economic world continues using the more efficient and traditional forms of energy to power their economies.”

Mohammed al-Hamed, president of the Saudi Elite group in Riyadh, told Newsweek in July: “This accession, if Saudi joins it, will balance the world economic system, especially since the Kingdom of Saudi Arabia is the largest exporter of oil in the world, and it’s in the G20. If it happens, this will support any economic movement and development in the world trade and economy, and record remarkable progress in social and economic aspects as Saudi Arabia should have partnerships with every country in the world.”

So clearly, BRICS is an alliance built on the foundation of cheap, affordable, plentiful, and reliable fossil fuels — the same ones that the West utilized to grow their economies into the powerhouses that they are/were, including the U.S. advancing to the world’s biggest economy, though China is catching up fast.

The growth of the BRICS coalition “would essentially be the end of the petrodollar, and — in even more consequential terms — the end of the United States’ ability to use the weight of the international trade currency to manipulate foreign government,” The Conservative Treehouse noted further. “The global economic system would have an alternative. The fracturing of the world, created as an outcome of energy development, would be guaranteed.”

The fact of the matter is, the West is collapsing, and it is all due to self-inflicted wounds. Many citizens of many Western countries are finally waking up to the idiocy of left-wing Western ‘leaders’ and culture, but it is likely too late to reverse the damage. There will be major global changes in the coming years, and it won’t be long before we start seeing them — none of which will be good for the West.

Sources include: 

• TheConservativeTreehouse.com
• Newsweek.com
• NATURAL NEWS

Russian President Vladimir Putin announced that BRICS nations are going to roll out a new alternative to the US dollar’s global reserve currency status. As reported by IndiaTimes.com:

According to the Russian president, the member states are also developing reliable alternative mechanisms for international payments. Earlier, the group said it was working on setting up a joint payment network to cut reliance on the Western financial system. The BRICS countries have been also boosting the use of local currencies in mutual trade.

But this is only the beginning of the bombshell here.

We also know from industry sources that “Project Sandman” refers to a group of over 100 countries that plan to simultaneously denounce the US dollar as a global reserve currency. This will likely take place on a Sunday evening, USA time, says Andy Schectman, the CEO of Miles Franklin (a gold and silver dealer). He told me this in an interview recorded yesterday, to be aired soon.

The new replacement currency will be powered by blockchain and backed by gold, which is why member nations have been rapidly stockpiling gold supplies in anticipation of the big announcement. When that announcement comes, nations that represent nearly 75% of the world’s population will simultaneously denounce the US dollar and roll out a gold-backed, blockchain-audited international currency system that will instantly become the world’s currency choice for free trade and a store of value.

The dollar, backed by nothing but more money printing and incompetent political leadership, will collapse toward zero. Virtually overnight, goods and services sold in America will increase in price by 1000%. And that’s only the beginning: The dollar will continue to lose value by the hour as the world’s holders of US Treasury debt and dollar currency dump it all at any price.

Those holding dollars will lose everything.

The United States government will quickly collapse in parallel with the collapse of the dollar and the US central bank. There will be no money to pay military troops or pay off corrupt government officials. All government salaries and pensions will be effectively halted. The great neocon empire of debt, lies and death will implode so rapidly that people will be psychically shocked and physically unprepared.

Russia, China and India will emerge as the economic leaders of the world, and the US empire will cease to exist. The former United States of America will be broken into regional nation states, divided largely among political lines with the satanic, anti-American Left seizing control of the coasts, and conservative, pro-America, pro-liberty, pro-Constitution groups dominating the rest of the country. Expect a very real civil war to ensue, with massive casualties.

Russia knows that it can defeat America simply by joining the world’s efforts to declare America’s dollar currency to be null and void. No nuclear war is necessary. America it already highly vulnerable to this sort of collapse due to the nation’s massive debt and spending addictions. Russia and China are merely sucking the air out of America’s collapsing currency, knowing that economic gravity will do the rest.

The Belt and Road Initiative – the future of world trade WITHOUT America and Western Europe

Examine the following map, depicting China’s Belt and Road Initiative, consisting of protected, high-efficiency trade routes among countries representing about 75% of the world’s population:

This Belt and Road Initiative will speed trade among member nations, and it will use China’s new “digital yuan” currency backed by gold and audited by blockchain technology. (Please watch my upcoming interview with Andy Schectman for a lot more on this, as Andy has been following the topic quite extensively.)

Notice what’s missing from this map? America and Western Europe.

That’s because America — the military and economic bully of the world — isn’t welcomed by other nations. America doesn’t play nice. America bombs anyone it wants while weaponizing the SWIFT system to punish its political enemies, and now that the world has come to realize the dollar is a weapon rather than a free trade currency, nobody wants anything to do with America from here forward.

The economic sanctions against Russia were the last straw for the dollar, it turns out. And the USA has nothing left to back its currency: Not manufacturing, not labor, not agricultural output, and not even gold in the vaults. The USA no longer has fair and free elections and no longer has freedom of speech. On top of that, the USA has political prisoners rotting in jails in DC while the FDA harvests organs from aborted human babies to use for medical experiments. In other words, the USA occupying illegitimate government, under demonic influence, has become a great evil in the world.

Western Europe is run by lunatics and “woke” propagandists who are committing economic suicide by outlawing every form of energy that matters. The EU is disintegrating, and the Euro currency likely will collapse within the next year. Western Europe is on a suicide mission, both economically and culturally, as the nations of Europe can’t even protect their own borders from mass migration. (Nor can the USA, for that matter.)

America as you know it will soon cease to exist

The era of Western Civilization is coming to an end. It will be characterized by the collapse of the dollar, a global repudiation of the petrodollar status, a collapse of the rule of law across the United States, a collapse of the stock market, pensions, bond market and crypto markets, a collapse of the food supply chain, and a collapse of the fuel and transportation infrastructure. This will, in turn, take down the power grid in many areas, leading to a Mad Max-style scenario from which a few capable survivors will attempt to flee.

Before the end of 2025, as I have publicly predicted for at least the last five years — America as you know it will cease to exist. This has been the plan all along from Barack Obama, Hillary Clinton, Joe Biden and plenty of RINO neocons, too (the Cheneys, Bushes, etc.). They needed to take down America in order to achieve one world government under the fascist United Nations, with universal gun control, universal vaccine mandates, abortion “rights,” engineered global starvation and total control over all speech and elections.

Their agenda is failing at many levels, however. Roe vs. Wade was just struck down by the US Supreme Court, for example, and there are elements at work that are looking likely to achieve key indictments against deep state players. However, any state that wants to exist after the dollar collapses must be ready to roll out its own gold-backed currency on an emergency basis. Texas is largely prepared to do this, but few other states are ready. The re-establishment of trade and commerce (following the dollar collapse) is going to be the key to surviving the demise of the dollar.

Texas is America’s No. 1 exporter of goods, by the way, and the Texas economy is larger than most nations on the planet. So is the economy of California. But California is run by child murdering, demonic fascists while Texas has the world’s best Attorney General (Paxton) and a strong contingent of pro-human, pro-liberty, pro-Constitution Americans who are ready and willing to relaunch the spirit of America in the new Republic of Texas, when necessary. #TEXIT

But no matter what happens domestically, America’s days of being able to run around the world, threatening everybody with military strikes and dollar weaponization will soon be over. And without the ability to print money and defraud the world into buying soon-to-be-worthless US debt instruments, the United States military will have no funding to continue operations or build new weapons. It will eventually be disbanded.

What happened to the former Soviet Union in 1991 is about to happen to the United States of America: A collapse of the ability to continue to fund the bureaucracy and military that propped up the system the entire time. The USA has sadly devolved into an empire of debt, lies and death. The country is currently ruled by an actual death cult, but those days are fast coming to an end with the imminent collapse of the demonic dollar and all the evil that money printing has enabled since 1971.

When this evil is finally brought to an end, all those who value life, liberty and happiness will rejoice (and rebuild).

Get prepared, for that today is coming soon. And from what I’ve concluded, the only way to avoid the financial collapse that’s coming is to hold your assets in physical goods such as gold and silver, land, agricultural equipment, ammunition, industrial buildings (factories, for example) and other “real” things that don’t vanish in a currency collapse.

Discover more details in my Situation Update podcast: Brighteon.com/9c3188e1-0f17-45fb-b9c4-38a903eedfdd

Discover more information-packaged podcasts, raw intel reports and interviews each day: https://www.brighteon.com/channels/HRreport

Follow me on:

• Brighteon.social: Brighteon.social/@HealthRanger (my breaking news gets posted here first)
• Telegram: t.me/RealHealthRanger (breaking news is posted here second)
• Truth Social: https://truthsocial.com/@healthranger
• Gettr: GETTR.com/user/healthranger
• Parler: Parler.com/user/HealthRanger
• Rumble: Rumble.com/c/HealthRangerReport
• BitChute: Bitchute.com/channel/9EB8glubb0Ns/
• Clouthub: app.clouthub.com/#/users/u/naturalnews/posts
• Join the free NaturalNews.com email newsletter to stay alerted about breaking news each day.
• Download my current audiobooks — including Ghost World, Survival Nutrition, The Global Reset Survival Guide and The Contagious Mind — at: https://Audiobooks.NaturalNews.com/
• Download my new audiobook, “Resilient Prepping” at ResilientPrepping.com – it teaches you how to survive the total collapse of civilization and the loss of both the power grid and combustion engines.
• NATURAL NEWS

Stay informed and you can stay alive.

Image by Palácio do Planalto via Flickr, CC BY 2.0.