News, Rumors and Opinions Sunday Morning 5-28-2023
US Dollar Dumping has Started as BRICS Nations Join Forces
Saturday, 27 May 2023, 12:26 PM
US Dollar Dumping Has Started in Both Words and Actions As BRICS Nations Join Forces, Says Russia’s Top Diplomat
Russian foreign minister Sergey Lavrov says de-dollarization is already underway due to the US government’s rhetoric and policies.
Lavrov says countries within the BRICS alliance, or the economic coalition of Brazil, Russia, India, China and South Africa, are actively plotting a path forward without the US dollar, According to a new report from Tass.
Lavrov, a Russian official since before the collapse of the Soviet Union, says the next BRICS gathering in August will focus on how the alliance’s New Development Bank can defend itself from potential US hostility.
“De-dollarization has begun, both in practice and in conceptual speeches… Within BRICS, Brazil suggested that the upcoming summit in August should give careful consideration to the tasks of protecting financial transactions within this assembly, of protecting the New Development Bank from abuse of the dollar’s persistent role. And we are putting forward many other initiatives concerning this issue.”
Lavrov says Russia is adjusting to a campaign from the western world that’s focused on cutting Russia off from the global financial system.
According to the foreign minister, the US has purposely sewed instability in other countries around the world to get what it wants, with the US dollar being the at the crux of the strategy. However, Lavrov says the tactic is running on borrowed time.
“They are releasing lists enumerating the goods that should be banned for export to Russia. I’m not exaggerating now. There was a trio recently – an American, a Briton and a representative of the European Union – who had been touring Central Asian countries.
However, let me repeat, they [Western countries] know well how to play on the difficulties they themselves create for other countries. And they will probably have a certain result, a certain benefit in the short term, but in the long term, they, and first and foremost the Americans, are hewing down the bough on which they are sitting, … including the roles of the International Monetary Fund, the World Bank, and the role of the dollar in the world’s economy,”
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Courtesy of Dinar Guru
Frank26 [Iraq boots-on-the-ground report] FIREFLY: They are saying to all businesses that still try to sell and use the dollar that it's a violation of the law and it's against Iraqi sovereignty. If they're caught, the first offense will be a fine. But then if they're caught again it will be fine in millions of dinars and they will serve jail time. FRANK: Their new national currency is sovereign in their country.
Militia Man [Budget delay] Article Quote: "the relationship between the federal government and the regional government (Baghdad and Kurdistan) will soon prompt the legislation of this law [budget]" All that's positive. Just because one guy comes out and throws gas on the fire doesn't mean that's going to burn long. At this stage of the game I believe it's not going to burn long. I think it's going to turn out to be...in the next couple days we're going to see these guys get together and hammer it out.
BREAKING: US Debt Ceiling Deal Reached | Endless Borrowing Continues!
SeanFoo: 5-28-2023
The United States has reached a debt ceiling deal in principle, but the details are shocking. While the US bond markets won't implode yet, government spending is still going to skyrocket. When we reach 2025, this will make any potential default even bigger with even greater inflation coming down the road. Here's what you must know!
Timestamps & Chapters:
0:00 Debt Ceiling Deal Reached
2:19 Good News For Treasuries But...
4:14 Banking Crisis Aftershock
6:45 Inflation Nightmare Coming