THE BRICS TRAIN ROLLS ON WHILE US HAS ITS HEAD IN THE SAND

THE BRICS TRAIN ROLLS ON WHILE US HAS ITS HEAD IN THE SANDShow more

BRICS is an oncoming train and the US is stuck on the tracks with its fingers plugging its ears. As Uncle Sam runs around in circles obsessing over the latest non-issue, global events of seismic proportions are underway. In August, BRICS admitted 6 more countries, more than doubling its members. The decision was clearly economic, as investor TJ Markets explains, and presents a challenge to the American-led economic order. So should the US be worried?

Former President Trump admitted the biggest American export is the dollar, but BRICS nations have an interest in escaping a system heavily weaponized against them. Russia is under sanctions, and has hundreds of billions of its dollar reserves frozen. So is China, which is struggling to shake off a Washington containment policy. Meanwhile, Iran is stubbornly following its own path and refuses to be dictated to.

American macroeconomic policies add fuel to fire. The US is currently trying to bring down inflation, which means a hike in interest rates. For dollar debtors, this translates to more expensive debt servicing, eating into public and social spending. In a way, money printing and interest rate hikes are a way for the US to rob the global south using minimal force.

But BRICS offers an alternative and the empire has its head in the sand. More than 40 applications to BRICS are reported, and with an increasing share of global population and GDP the West-based order risks sliding into obscurity.

#BRICS #USA #Economy #Investor #Russia #Sanctions #Dollar #China #Policy #China