There is growing resentment with the way
the United
States uses the privileged global reserve status of its
currency within the international financial system as an
instrument of its national policies.
Because world currencies depend on the US dollar as its
reserve currency, no nation or organization is immune to
this potential abuse.
History has demonstrated that the US has been wielding
this economic weapon whenever needed and anytime a
nation declares they will use another form of currency.
Sanctions are the primary mechanism the US uses to
coheres the world to yield to their policies.
Another way the US has created leverage is by their
control of the
SWIFT system.
But
when these tactics are not effective enough the US has
another resource at its disposal.
The might of its
military and it's influence over the NATO forces.
One
of the ways nations have found they can circumvent the
failing reserve dollar currency is to band together to
develop trading alliances outside of the traditional
markets and SWIFT system.
One
such alliance is known as
BRICS.
These five major emerging economies are developing a
joint new payment system called 'BRICS Pay' as part of the
drive to establish a common system for retail payments
and transactions between the member countries.
The
characters in the oil game have changed. And the new
players want to back the price of oil with the Yuan.
One
thing is for sure, that soon no nation will want to back
their currency with an economy that is '$123 trillion
dollars in debt' and projected to add one trillion
dollars of debt each year.
As
the most powerful nations in the world have
demonstrated,
gold is becoming more important globally
than ever.
