Flying under the radar, Saudi Arabia, the world’s largest oil exporter, is primed and ready to officially join the BRICS bloc in what will prove to be a massive blow to U.S. dollar hegemony. Saudi Arabia would now become the 9th nation to join BRICS – its founding members being Brazil, Russia, India, China, and the later South Africa.
Saudi Arabia had already indicated that they were open to trading in other currencies back in January of this year, during a World Economic Forum summit meeting.
TV BRICS, an international news portal that reports on all things BRICS, provided a briefing of the move:
Saudi Arabia has begun negotiations to join the New Development Bank (NDB) of BRICS. The country may receive the status of the ninth member of this financial institution, as reported by the ‘Vedomosti’ newspaper, citing the Financial Times, which received a statement from the organization.
The bank representatives stressed that great importance is attached to Saudi Arabia in the Middle East and a competent dialogue is underway with Riyadh.
Eight countries are currently members of the NDB. The authorized capital of the bank is 100 billion U.S. dollars. The main purpose of the financial organization is to allocate funds for infrastructure projects in the BRICS countries and developing countries. The NDB is headed by the former president of Brazil, Dilma Rousseff.
Speaking about the NDB BRICS, Russian Foreign Minister Sergei Lavrov said at a meeting of the Shanghai Cooperation Organization (SCO) Council of Foreign Ministers in early May that the five countries paid attention to the initiative, repeatedly expressed by Brazilian President Da Silva, to switch to their own currencies in the future. The creation of an aggregated currency is not ruled out, but all this is still under consideration by the relevant agencies, finance ministries and central banks.
SEE: Central Bank Of Iran Declares That Dumping US Dollar In Trade Is ‘Iran’s Strategic Policy’
Earlier in July Watcher.Guru reported via Info BRICS how Saudi Arabia’s move to BRICS would help in the de-dollarization trend.
Professor Mohammad Marandi, a professor at the University of Tehran and a representative for Iran’s Presidential Delegation to China, stated that the dollar is “unreliable and dangerous,” and has bas been used a weapon to bully nations around.
Therefore, countries like China, Iran, and Russia among many others, need to move away from the dollar so that the U.S. cannot use it as a weapon against them … The U.S. should not be allowed to use the dollar to put pressure on other countries.
I think for Saudi Arabia, ultimately it will be in its best interests to move away from the dollar as well in order to make sure that it is not vulnerable or less vulnerable to the U.S. If the rapprochement continues, then I think the chances for Saudi Arabia to join the camp of de-dollarization increases substantially.
Marandi said
The Crown Prince of Saudi Arabia Mohammed Bin Salman has also that he is not interested in “pleasing” the U.S.
Saudi Arabia is apart of a growing list of many other nations seeking application to join BRICS, with one of the most recent being Mexico.
BRICS’ ambitions are busy trying to circumvent the U.S. while at the same time create a new currency in its place, beyond just them trading amongst themselves in their own currencies.
SEE: BRICS Nations Discussing Working On A ‘Fundamentally New Currency’ According To Russian Official
Lena Petrova has more details on the latest move by Saudi Arabia and how this will affect the United States’ currency.
AUTHOR COMMENTARY
This is a monumental blow to the United States, and so it comes as no surprise that the media is not even talking about it.
Many pundits have continued to try and downplay the severity and rate of de-dollarization, and emanate such arrogance and folly, pretending that the U.S. will never be in danger of losing the world reserve currency status. It’s happening now and it’s happening fast. De-stabalization of the dollar will not happen overnight, and it will probably have to go to full-scale war to truly dethrone it; but make no mistake it is happening and it’s serious.
He that oppresseth the poor to increase his riches, and he that giveth to the rich, shall surely come to want.
Proverbs 22:16
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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America’s greed and wickedness is catching up to her.
One thing I’ve always suspected is that if the Lord punished America before the TOJT, that it’d be a very slow, painful punishment. Not a quick, bright Sunday morning nuclear war out of nowhere, like the American fanboys always envisioned (really fantasized) America’s end to be. But rather a slow destruction consisting of economic collapses, civil unrest, oppression, and famine among many other things that could be involved, ending in the most mundane snuffing out of a nation you can imagine.