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Written by Ahmed Adel, Cairo-based geopolitics and political economy researcher
Incoming US President Donald Trump is obsessed with imposing tariffs, believing this will resurrect the ailing economy. However, the Republican faces the challenge that his reckless tariffs policy will only strengthen efforts to replace the US dollar as the global reserve currency, especially fearing a BRICS currency.
In a Truth Social post on November 30, Trump said:
“We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty US Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful US Economy.”
The president-elect’s threat to impose 100% tariffs on the BRICS+ countries that try to replace the dollar as the global reserve currency is excessively bombastic. Not only does it sound sterile, but worse, it would mean the geoeconomic and commercial suicide of the US since today, the BRICS+ have surpassed the G7 of which the US is a member.
Today, the G7’s GDP has fallen substantially behind, with 30% of the global GDP measured in Purchasing Power Parity. Even when measuring the combined economies of all 32 NATO members, accounting for 30.7% of the global GDP, it pales compared to the BRICS+ 35%.
In terms of population, BRICS+ – including its five new members Iran, Saudi Arabia, the United Arab Emirates, Egypt and Ethiopia – make up 45.3% of the world’s population, compared to 10% for the G7, while NATO represents about 973 million people.
It is clear that, up to this point, just by analyzing the hard geoeconomic data of NATO and its G7 allies, both have been significantly surpassed by the BRICS+, both in terms of GDP and population scale, not to mention their prodigious technological advances, from hypersonic missiles to military artificial intelligence.
The only three strengths left to the US today are the terrifying control of its pernicious global propaganda, its lead in quantum computing, and, above all, the omnipotent dollar, which has already begun to be undermined by the BRICS+. It is noteworthy that at the 16th BRICS+ Summit in Kazan in October, Russia and China opted for gradual de-dollarization.
The nervousness of the outgoing Biden administration’s financial authorities became evident when Brent Neiman, assistant to the US Treasury Secretary, warned on November 19 of “potential risks to international financial stability and economic security from any cross-border payments systems that fail to adhere to standards aimed at minimizing illicit activity,” in an obscene allusion to the BRICS+ communiqué of October 22 that called for a cross-border payments system to bypass Western platforms.
Two days later, on November 21, the State Department announced new Treasury sanctions against all Russian banks and Russia’s financial message transfer system to prevent Moscow from using the global financial system. The combined effect of both punitive measures in the US led to a sharp devaluation of the Russian currency, which reached 114 rubles per dollar, primarily due to sanctions against Gazprombank, its third largest bank.
This whole series of suffocating geofinancial measures seem more like the death throes of a dollar-centrism that is gradually fading away on the horizon of the advent of the new world order, multipolar, polycentric, ecumenical and civilizing.
At the BRIC Summit in October, Russian President Vladimir Putin highlighted how “weaponizing” the dollar was a “big mistake.”
“It’s not us who refuse to use the dollar,” Putin said at the time. “But if they don’t let us work, what can we do? We are forced to search for alternatives.”
Moscow started creating a new payment system as an alternative to the global bank messaging network SWIFT and to help facilitate trade with partners after becoming the most sanctioned country in the world.
According to the IMF, the US dollar accounts for about 58% of the world’s foreign exchange reserves, and major commodities like oil are still primarily bought and sold using dollars. However, the dollar’s dominance is threatened by BRICS’ growing share of GDP and the alliance’s intent to trade in non-dollar currencies, with India and China playing an important role.
Due to this evident threat to US economic dominance, BRICS members are still moving towards de-dollarization, but without bravado, hoping not to antagonize Trump.
South Africa was the first BRICS nation to respond to Trump’s threat, wasting no time issuing an official response the following day, denying that BRICS is planning to create a new currency. This was followed by India’s External Affairs Minister S Jaishankar saying on December 6, “Right now, there is no proposal to have a BRICS currency.”
In reality, though, India, for example, has been a great facilitator of trade in national currencies away from the US dollar. Although a BRICS currency is realistically nowhere near realization, the trend of trading in national currencies and not the US dollar will accelerate, and no threat or tariff from Trump can stop this.
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but…. according to democrats, trump has won because “russia, russia, russia.” it was a big nuttin burga ? a lie ? impossible !
the iou fiat filth ex saudi mercan toilet paper dollah and its gimp aborted €urodollah no longer can keep the wobbly bankrupt $atan’s filthy a$$ clean and so don chump is blustering as bluster he must. the free lunch and stuff is over as china dumps its worthless mounds of yankee treasury garbage. who will feed $lumvillains and supply their trinkets when bankrupt $lumville has nothing to offer? get ready for the civil war reloaded under don bankrumpt chump. prep or die
boring transparencies.
no such thing like brics currency. there is only one competition to dolar – yuan. china can implement it anytime – yet they are not even remotely interested. end of it.
time is not on the g7’s side. too many abuses in the past and whatever the usa sells is now being replicated in the brics countries.
why does brics need a currency? russia and china should be able to trade in their national currencies, and perhaps some trade could be done like that with india also. i just can’t fathom why this is so difficult to do but trade with the created out of thin air and controlled by the americans dollar is so wonderful. the whole problem seems mainly contrived and psychological.
everything’s a psyop has been since pharoah discovered the utility of the blue lotus hynptic .nothi g’s what it seems .the reality we’ve been taught to believe in is pure fiction.
the russian domestic press fawns over trump like he some kind of friend. most likely a friend of the dual citizen oligarch that owns the newpaper/tv station. nothing good will come from surrendering to trump
its frightening that countries have such a resistance to facilitating trade without the supervision/control of the rothschild banking clan
that is the main reason the israelis get away with murder. the jews control the central banks
aron lvovich sheinman (арон львович шейнман)
well they dont remember a time where this wasnt the case. to do what they want brings leaders money to fight it ends them like ghadaffi and saddam.
saddam threatened bp .gadaffi pre empted their plan .would have beaten them to the punch imo .
do your homework thd ceo of the rothschild corporation is an american girl who grew up living on.army housing with her dad in the army .. you have no idea .
my lgbt amerikoont hillbillies. lovers reliable fentanyl dealers inform me 50% ukie population no electricity
i think for all african and middle-eastern countries it is the same, if they buy and sell to us, or somewhere else.
soon as half of ukraine is in russian hands, they have enough wheat to feed all middle-east and half of africa.
and why pray tell would the russians want to feed them? are they going to pay in way shape or form for this ‘feeding’. the best thing that could happen to russia from the syria mess is for it to lose access to all the hands that are looking for handouts.
people need oil and give middle-east countries money, they give money to russia and russia gives them food. is this somehow complicated to you? it also brings with it geopolitical dimension, where supply of vital commodities brings reliance. but i am not going to explain you that, as basic capitalism money for goods is too complicated for you.
what money? some silly as dinars you can’t spend anywhere
what are the worthless africans going to pay with, they never pay for anything. just take take take.
grow up .ukraine was always russian. it was called the bread basket of europe.
the evil regime also threatened venezuela that it must allow the us to appoint its president for it
venezuela will be the next target for sure.the think is everything in western world is pre arranged from centuries ago, so many ancient secret pacts between catholic church, spanish empire, portuguese empire, and after it comes usa empire that is the sovereign of the americas. the childrens of americas, the human cattle, the minotaurs, the faun, the unicorn, could you get my point here? only lackeys are allowed, only sick mind people, you cannot think you must obey the master hegemon.
the natural order was usurped. god was cast aside as the father of the world, the king was cast aside as the father of the nation, the father was cast aside as the head of the family.
the money lenders are behind it all, everyone else is just a pawn in their game.
you speak my language vanya and i liked, i thought i was the only person can see the reality of the post wwii world and the origins of western civilization in the reinasscense ages. i’m happy to find you
are you ok ? everyone understands the rennaisance is intended to be seennas the rebirth of western domination.
it’s not about the age itself brainiac, it’s how they change the way of thinking, it was about the philosophers and how they expanded their mind and knowledge, in the reinasscense and ages after they had lay the foundations of western doctrines. but after wwii everything changes, because all knowledge were weaponized to this days. so today everything is weaponized, and hierarchy between masters and vassals, ussr collapsed.
rubbish the only real.wealth is real estate money is a form of magicke it’s a medium of exchange .it’s an illusion. even when backed by gold or oil or human gdp .aka slavery .
almost forgot. venezuela will be the next. they will put a “head of the snake” goverment aligned to the masters hegemons and if they leave venezuela alone, it’s because it serves to a purpose just like cuba, it serves to a propaganda purpose so everyone had to be aligned to the “head of the snake” and obey the master hegemon who rules over the head of the snake and the childrens, the human cattle. everything serves to the purpose of the exceptionals masters.
it seems that way. far from having ties to russia or china, any person simply being principled or against corrupt/arbitrary government is enough to make a person an opponent of the aristocracy in the ‘west’
corruption is just one of the hundred of tools they have to enslave goverments, while more corrupt the goverment is, the easiest to control and enslave them using bribing and bribes methods. more corruption means more debt and the more debt a country owns the most interest they get from them. also they can infiltrate so easy using corruption.
correct every dollar or ruble created under the reserve banking system is a debt to the nation whi is receiving it .and thd reseve banking system is now almost global excluding only really iran.and therein lies a big clue imo .
there’s nothing arbitrary about the aristocracy .
trump doesn’t want the venezuelan refugees but he follows the deep states orders and keeps sanctions on venezuela.
sanctions on venezuela aren’t in america’s best interest all that does is create economic refugees fleeing sanctions.
nope, there is whole strategy of the exceptionals allowing open borders policy in usa empire, they are the childrens of the spanish empire getting into the lower layers of the empire because they need population to play the vis-a-vis game against china and india. usa empire goal is to have at least half of the population of china. the exceptionals are so exceptionals.
half right half wrong .
not even americans understand that the supreme hegemon architect of the empire wanted to do to them. open borders since the liberal radical democracy age. thousands of population from spanish empire to the lower jobs, without social benefits, us goverment allowed spanish as a second language, everything is predesigned by the supreme architect of the exceptionals decades ago.
trump doesn’t understand anything, but he will be a great pawn of the empire of the exceptionals. trump will take venezuela, syria already felt, probably georgia, would use armenia to infiltrate russia, if i were russia i will really study the exceptionals tactics and strategies because russia is the next dish of meat of the empire of the exceptionals. they are cannibals everyone is food.
you don’t understand a fraction of what trumps known since the 1980s .
you don’t even understand usa federal goverment origins and how they developed from the original eastern colonies and how they did to expand to all north america, the alliances, the wipe out of the iroquois and indian americans native population, the pilgrims. in the early 80’s everybody knew ussr will collapse, so u.s.a prepared they strategy to deploy the western liberal radical democracy age that we lived in the 90’s
theoretically and pragmatically issues aren’t equal .
the democrats and the deepstate are setting trump up for failure. bidenomics are a mirage. not long after trump takes office there will be an economic downturn worse than the great recession. people need to get out of stocks and other risky investments gold will be king.
bird flu pandemic is all set to go, by this time next year we will all be locked down again.
cbdcs will entrap the world .imo .as freedom of exchange. that’s the communists plan anyway .imo
totally untrue. you cannot make comparisons between g7 and brics without taking account most countries from brics are aligned to the western economy. just to point out china, brazil, india wouldn’t dare to stop using us dollar. maybe in five or ten years in the future could be, but most countries will try to benefit if the brics currency becomes reality using both currencies. this report is only propaganda.
the dollar is pegged to oil on one hand and gdp on the other it’s not really fiat but they want you to think.it is .it’s also totally manipulated by war which can create rapid inflation which always makes the rich the industrialists , richer and the poor poorer .it’s all no coincidence .
thats it dumbo, impose tariffs and sanctions. speed up de dollarization
al-julani is reborn and is now a saint.
“the wonderful us economy”????? roflmao!!!!
the prinz of deceives
look the house of saud started diversifying almost all of their wealth out of oil back in thd 1980s .join the obvious … they called the inventor of bit coin the most evil criminal on earth and locked him up and stole his invention join the …. use your nut .entrapment are their specially imo .
trump is almost as stupid as those who support him. tariffs are a tax on the consumer and will eventually cause higher prices on domestic items.
america has exported its poverty for decades and created this world economy that favors america. now the chickens are coming home to roost.
america is not wealthy, and is in debt to its eyeballs. the facade is about to come down.
good luck to the orange chimp. central bank digital currencies are going to cut out the london and jew york bankers from the equation
.🫵🤡 😆😆😆
$shitc0n = $usd and if russia, prc and india still care they will be abandoning the “m0ther$hip at 405 east 42nd street, new york, ny, 10017, usa and start standing up the rule of law somewhere in-between each of their countries for the new world briics hqs!…