Any thoughts on BRICS vs the Dollar?

[WickyWoman]

There are 63 American banks that are on the brink of bankruptcy with $517 billion unrealized losses. Holy smokes. But that alone is not an issue unless there is a bank run. So to prevent a bank run, the public is not being told which banks are in trouble. Meanwhile, BRICS is crushing the petrol dollar. What impact, if any, will these things have on Scotland -- or the UK, for that matter. Does anyone have any thoughts or insights to share?

[The Horseman]

Apparently, presently there are over 250 Banks in The US that are in trouble….In addition, Quite a number have already been bailed out by the Gov’t and this is behind the scenes. The Glory days of American dominance in the World, is fast failing. The US is now Officially in debt for over $34 Trillion and they are printing more and more money. Countries are only Dominant for a period of time. Just look at History. Canada, where I am, is now $1 Trillion in debt. We are one 10th the size of America…..All Countries are getting into Financial trouble, spending money they don't have.What has always shocked me is the Number of Mobility Vehicles that are in the UK….last Count 630,000.Many of these are cars…..I have known families who have 2…Two cars/vans. And Everything is paid for. Shocking.

[Bill Fernie]

Most experts seem to think there is a long way to go before brics can challenge the dollar.The dominant country in the group is China and some countries may be wary of becoming dependent on brics where it is dominated by the most powerful economic partner. China has recently been buying huge amounts of gold to back their own currency. For year or two they have been divesting themselves of US treasury bonds to become less dependent on the dollar. But the same rules still apply. Gold has been reaching crazy prices for the last few years but what happens once it goes into reverse - does China lose its shirt?To get some perspective on brics look at this article https://www.aljazeera.com/features/2...xperts-sayAlso although the debt in banks may seem big they are still relatively small compared to the assets of all the banksInteresting list of bank assets - https://gfmag.com/banking/worlds-saf...-100/Countries have often expanded debt to fund their economies - nothing new here.Perhaps more worrying is the UK debt now approaching 100 percent of GDP. 99.8% https://www.ons.gov.uk/economy/gover...nces/may2024We were last in this position following WW2.However national debt is different from household debt and you have to understand economics a little before you really worry and even then why worry it won't help.

[WickyWoman]

Apparently, presently there are over 250 Banks in The US that are in trouble….In addition, Quite a number have already been bailed out by the Gov’t and this is behind the scenes. The Glory days of American dominance in the World, is fast failing. The US is now Officially in debt for over $34 Trillion and they are printing more and more money. Countries are only Dominant for a period of time. Just look at History. Canada, where I am, is now $1 Trillion in debt. We are one 10th the size of America…..All Countries are getting into Financial trouble, spending money they don't have.What has always shocked me is the Number of Mobility Vehicles that are in the UK….last Count 630,000.Many of these are cars…..I have known families who have 2…Two cars/vans. And Everything is paid for. Shocking.

I have a feeling that they don't care how much they are in debt because the ultimate goal is to switch (by force) to digital banking where we can't even observe how much "new money" is being created and/or they can pay off debts with money that never existed in the first place. Fully digital money, a so-called "cashless" society will be the end of freedom. There will be one central ledger that is controlled outside of the UK / US and every single transaction can be monitored, recorded, compiled, stored and (this is the scary part) REFUSED based on "new laws" designed to restrict access of resources. This will make it impossible for "poor people" to attain tools and resources to, for example, protest or fight back. Artificial Intelligence will also be used to detect threats to the elite and those in control. All these years that we have been on sites like Facebook, etc., AI has been collecting information about human behavior. They say now, for example, they can detect people in crowds using AI to see who is "nervous" or in the process of "committing a crime" based on body language. This is not going to be used to make our streets safer, this is going to be used to make sure that people can't ever overthrow the gov't, even if that gov't is corrupt, cruel, inhumane, undemocratic, unelected. AI is the weapon. And every single thing that we connect to the internet just makes AI even more powerful. People think Smart Meters and forcing everyone to switch to electricity that plugs into Smart Meters is just some innocent thing gov'ts are rolling out. But it's not innocent. They are lying to us, saying that by switching to electric and Smart Meters that we are "saving the planet" but it is not true. Do you realize how many fossil fuels are needed to feed into and support this stupid idea that electric things are better for the environment? It is the most ridiculous thing ever. So why are they lying to us? Because the real goal, the ultimate purpose, is to get everyone to go along with giving up their freedom and independence and to agree to being "monitored" under a great big lie that if we agree, the world will be saved. NO WAY. If we agree, we will all lose everything. That is the honest truth. That is what people have figured out and they are all starting to talk to each other and that is what is getting people censored and blacklisted. The people at the top with all the resources and power don't want the people at the bottom to figure out that AI is the ultimate weapon for them to keep power in their hands. Their greatest fear is that the masses will understand what they are trying to do right now, this big lie they are trying to sell us. This "war" is accomplishing a few things for the elite/rich/powerful. Firstly, it will be the excuse to get rid of cash. They will say a cyber attack has taken down all banks. Second, it will be an excuse to roll out basic income. If nothing is working and nobody can go to work, they know people will line up to accept free money from the gov't. But the catch will be that the free money requires your biometrics. This is, in my opinion, which maybe many people don't agree with and that's fine -- but this is the mark of the beast. You will not be able to buy, sell or trade without it. When the fake war ends, there will be a "one world" gov't which will be controlled by the 1%. They will be able to monitor all of us and keep us "in check" -- and along with it, they will have us all crammed into smart cities. Our electric cars can be shut down by them remotely, so no chance of escaping. Those in rural areas willl be forced into the cities through new laws and regulations (no fireplaces, no oil, no gas, can't grow gardens, can't store rain water, can't farm, taxes will skyrocket, can't upgrade your home, can't rent our your rooms to pay the mortgage -- can you see yet how all the "new" laws are going to come together to encircle us in a prision without walls?) Right now, all of the land set aside for conservation in the USA is being sold off to rich people. Only rich people will get to enjoy freedom outside the smart cities I guess. But if you are good you can get "social credit" that might allow you to leave a smart city on holiday to see the trees or the ocean. I know it sounds like I am going down a rabbit hole, but everything I am saying can be found on official websites - it is all true. The problem is that people are not connecting the dots fast enough. People can't see what's happening because we are all in denial that it's really happening. We want to think there's no way something like this could ever happen, but it is. Even the new laws that will prevent children under 16 from going online are not laws to protect children. It is a lazy law that will protect the elite and the corporations that are going to begin to use AI to monitor absolutely everything and they know that they can't legally monitor children. So rather than abandon the idea of monitoring everything online, they are going to force children off the internet so it can be a free for all, so they can assume that if you are online they can legally track every single thing you do. IF YOU TRULY VALUE YOUR FREEDOM, you must UNDERSTAND what is happening and you must UNDERSTAND QUICKLY BECAUSE IT'S HAPPENING FAST. You must resist AI integrating you and all of your activities, you must resist Digital IDs, Smart Meters for electricity and water, the removal of cars that run on diesel and oil (these can't be controlled by AI), the removal of heating systems that aren't connected to AI, the removal of cash, the removal of physical banks.... the list goes on. On a final note, if you think that gov'ts would never block your access to food or resources if you don't comply with biometrics or digital IDs, you need to take a look at the countries that did exactly that during Covid. They truly did stop people from buying food and the most horrific thing about it is that other people just stood by and watched it happen. People didn't stand up and defend those who were not vaccinated. If it was a test to see how people would react, then we all failed. We obeyed the rules and turned our back on our fellow citizens and watched them be turned away from food.

[WickyWoman]

The biggest weapon the 1% have is us. They can't accomplish anything without the people they hire and manipulate to do their dirty work. Just think about that for a minute. If we could organise ourselves, we could stop WW3. Why do you think they spend so much money and time trying to stop people from expressing their thoughts and views? Only free people have free speech. Without free speech, there is no freedom. If I had to produce my ID in order to log into the internet (or this forum) just think of the huge risk that would be. They could shutdown my bank account, shut off my internet access, or just simply harrass me. Maybe I would be fired from my job (political parties have been known to have the power to do this to people). But they couldn't do any of these things if people didn't agree to carry out their unlawful orders. Just some food for thought. Thanks for listening to my rants.

[The Horseman]

Most experts seem to think there is a long way to go before brics can challenge the dollar.The dominant country in the group is China and some countries may be wary of becoming dependent on brics where it is dominated by the most powerful economic partner. China has recently been buying huge amounts of gold to back their own currency. For year or two they have been divesting themselves of US treasury bonds to become less dependent on the dollar. But the same rules still apply. Gold has been reaching crazy prices for the last few years but what happens once it goes into reverse - does China lose its shirt?To get some perspective on brics look at this article https://www.aljazeera.com/features/2...xperts-sayAlso although the debt in banks may seem big they are still relatively small compared to the assets of all the banksInteresting list of bank assets - https://gfmag.com/banking/worlds-saf...-100/Countries have often expanded debt to fund their economies - nothing new here.Perhaps more worrying is the UK debt now approaching 100 percent of GDP. 99.8% https://www.ons.gov.uk/economy/gover...nces/may2024We were last in this position following WW2.However national debt is different from household debt and you have to understand economics a little before you really worry and even then why worry it won't help.

Yup…..your last few words say it all.

[Goodfellers]

Just like to comment on one point. You feel that AI is going to stop the public overthrowing a corrupt government. I don't thing North Korea, Belarus, China or Russia need AI to control the masses, they use violence and the fear of violence. I still think the west is still a democracy (maybe not as much as we would like though) but it is where countless oppressed people chose to come. What you predict may eventually come to pass but not in our lifetime and so long as you obey the rules (even ones you don't agree with) you'll be fine. Enjoy life rather than worrying too much about what 'might' be.

[Goodfellers]

There are a few'benefits to a cashless society, for example the UK 'recreational' drug industry is worth about £10 billion, I assume that would then be able to be taxed. No more 'homers' for cash thereby benefiting society by increased tax take. It might even be a tool to help reduce child poverty, if a parent is claiming any benefit, their digital cash card could be enabled only to buy essentials for the family, i.e. no alcohol, tobacco or scratch cards or entries into competitions to win life changing money. I'm not saying that is the only cause of child poverty but there are parents out there who are not good at managing a budget and a card that monitors and controls their spending might be useful. I think there are some pluses and some minuses to a cashless society, but as I said, I doubt it'll happen anytime soon.