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International Use of the US Dollar in Trade is Being Cancelled
BRICS+, SCO, EAEU, and others are moving quickly.
What do the BRICS+, Shanghai Cooperation Organization (SCO), and the Eurasian Economic Union (EAEU) all have in common?
None of them want to be beholden to the United States preexisting domination over the global financial system, geopolitical ambitions, or other nefarious machinations.
The system will include a single payment card – in direct competition with Visa and Mastercard – merging the already existing Russian MIR, China’s UnionPay, India’s RuPay, Brazil’s Elo, and others.
BRICS represents about 24% of global GDP and about 41% of global population.
SCO represents about 24% of global GDP and about 42% of global population.
EAEU represents about 3.2% of global GDP and about 2.4% of global population.
Most of these organizations and others like them have some overlap.
Watch for more member ascension — Iran formally joining SCO, for example.
What will Europe do? In 1984 — they align almost entirely with the “Eurasia” group and combine into a superstate encompassing mainland Europe & Russia. Plausible.
How long now until the SWIFT (Society for Worldwide Interbank Financial Telecommunication) and CHIPS (Clearing House Interbank Payments System) — largely dominated by American and European interests — are bypassed entirely?
As soon as competing systems are interoperable between these countries — the old system will come to an end. The speed at which this is picking up pace cannot be understated. The most valuable export of the United States over the last 80 years has been the US dollar — not televisions, airplanes, or cars. Take that away, and what is leftover?
At that point, there will be another massive drop in the standard of living in Western countries.