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BRUCE T. OSBORNE, SR. | Publisher
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A Worldwide Coup d'état on the American Dollar by BRICS is in the Works... How will it effect African Americans?
Story by: Bruce T. Osborne, Sr. | March 2024
Members of the BRICS organization from left to right: Lula da Silva, Xi Jinping, Cyril Ramaphosa, Narendra Modi and Sergey Lavrov at the 2023 summit.
Intergovernmental organizations are rallying together to change the old paradigm of US dominance and control over their monetary and political outcomes. In the past, corporate and multinational conglomerates, bankers, political operatives, and mega-capitalist in the United States of America created a system designed to dominate and control Europe and East-West Trade which is still in play today. This system was coined the “New Spirit of Imperialism.”
A key element in their plan was the major strategy to demonetize gold. In other words, eliminate the gold cover for the dollar, thereby making the dollar flexible (soft) and gold to be treated as a commodity (a product). A maneuver enabling the powers that be the ability to manipulate the dollar in a way to achieve greater profit margins by members of the newly formed US corporate aristocracy and corporate elites.
The highly specific group of corporate followers and individual client go-betweens for the imperial dynasty helped to design and control the geographic scope of international policy as well as dictating areas of military importance. They also directing diplomatic activity both nationally and abroad. The power held by this new American aristocracy was and currently is phenomenal, well-oiled, powerfully brilliant and highly influential.
Their strategy also included controlling the global military, economic, political, and cultural engagements at home and abroad. Ultimately, moving all countries in the direction toward the new formation of democracy and the establishment of a unified world monetary system. Henceforth, they play a major part in foreign countries’ policy decisions and outcomes. For those who do not comply to the new Imperial Dynasty’s demands, they would be subjected to the long-arm of American justice and face possible crippling sanctions and a host of other punitive measures.
Subsequently, as a result of America’s aggressive move, it would eventually compel intergovernmental organizations to join America’s free-market strategy, where market forces alone would determine the overall value of the dollar absent the gold covering previously manipulated by the members of America’s Imperial policies. It would yield high profits for the U.S. first, and then reward its corporate followers. Gold at this precise juncture had become a commodity and subjected to price fluctuation.
Now, in what appears to be an attempt to get from under the grip of America’s influence, BRICS members—also known as the “Big Four” —seeks to establish its own Royal economic dynasty. The organization is planning to create a mood of cooperation among its members as it relates to economic monetary control. Consequently, severing the long-reign of Western dominance over foreign affairs.
“BRIC’s initial consortium of intergovernmental organizations was comprised of Brazil, Russia, India, and China, and was the brainchild of Goldman Sachs economist, Jim O’Neil in 2001.”
BRIC: A collection of intergovernmental organizations originally comprised of Brazil, Russia, India, and China, also known as the “Big Four.” It is the brainchild of Goldman Sachs economist Jim O’Neil in 2001. Jim believed that this new configuration of BRIC, would in time dominate the global economy in or around 2050. In 2010, the group invited South Africa to the Summit in Brazil (Brasilia) as a guest and later asked them to become a full member in 2011.
By adding South Africa, it has modified its original acronym of BRIC to “BRICS.” They (BRICS) have been identified as being among the “fastest growing” global economies with “exception to South Africa,” according to Jim O’Neil, who is a global economist at Goldman Sachs. “Mr. O’Neil drew a sharp criticism and a direct distinction between BRIC and BRICS, arguing initially that South Africa was too small of an economy to be added to the ranks of BRIC.” according to Goldman and Sachs.
However, it was believed that South Africa would be an excellent addition to BRICS due to its well-developed economy and progressive infrastructure. Plus, South Africa is one of the world’s largest exporters of natural resources like [gold, platinum], etc. As BRICS transitions to its new mixed currency, it will back it with gold, and “South Africa has a lot of it.”
Operationally, South Africa is a great partner for the BRICS group. It serves as an additional source of backing for the new BRICS mixed currency through its gold reserve, aligning with the group’s strategy to provide monetary stability, increased investment, and increased trade options. This is designed to prevent the constant volatility that the domestic and international markets experience under today’s U.S. leadership and the declining American dollar.
Remarkably, the BRICS new plan appears to be similar to the historical Imperial dynasty of America’s corporate elites. BRICS modus operandi seem to now go back to the previous business model for monetary stability between Europe and America, where the dollar was backed by gold and visa versa. Ultimately, making the new BRICS monetary system stable, and thereby increasing its loyalty, and an appetite for the new BRICS currency, as well as the positive monetary expansion for foreign corporations and investors.
Moreover, by displacing the American dollar with the BRICS currency, it will in effect curtail the United States dominance over international monetary affairs. It will also put a stop to America using the dollar against Europe and beyond as a tactical weapon among foreign countries through it imposing devastating sanctions on foreign governments. A new BRICS currency would almost certainly weaken the overall US power of sanction and help to further challenge the US dollar value among its citizens and foreign countries.
The creation of a centralized currency by BRICS had been in the works for several years to replace the US dollar with a new universal currency not controlled by America alone. According to Peter Beter, in his book the Spirit of New Imperialism, “The dollar had been at peace with the world for over a quarter of a century. Its health had been sound. It was tied to gold by a solemn international agreement, which had been the linchpin to the currencies of the Western world. The dollar had been considered a ‘hard currency’ accepted everywhere.”
“If people knew gold was behind their dollars, they would have the utmost confidence in it. In short, the dollar was as good a gold.”
As a result of America’s new “Imperial Empire,” comprised of major corporations, political operatives, and smart businessmen, America ultimately severed the gold backing to the dollar in 1961. The move was confirmed and approved by President Nixon in an executive order in 1971. Again, it was a move in which set in motion the US dominance and control throughout the world. It granted them more flexibility and control, thereby enabling the wealthy US capitalists and elites to have more control and opportunity to exploit markets domestically as well as globally, and keep their hands on the growth of other countries and people. It was a daring and brilliant undertaking. This new American Royal Group altered the nature of the world’s monetary system and that of trade for what appeared to be forever.
The BRICS New Development Bank Headquarters in Shanghai, China
But, now it appears that BRICS is returning to the old standard paradigm of America for providing more opportunity to international economies by creating a new currency and backing it with gold. They hope to achieve better opportunity and to create “stability as well as unwavering” markets as was the case in the US during the 1950s to 1960.
The BRICS plans to reconstruct the well-established reign over the American dollar appears to be well-organized, quite robust, and assuring. However, its proposed feat will not be as transforming as the American system as it has been embedded for many years.
The BRICS plan to rival the American dollar will be problematic and an arduous undertaking as divisions within the group have already exhibited some internal political disagreements on policy issues, power, and control. However, if the BRICS herculean task comes to fruition, its outcome will be devastating for the citizens of America, and especially the Black and poor communities in the US, and abroad.
Replacing the US dollar with a new dominant currency(s) will devalue an already sliding American dollar for Black Americans and initially for foreign Blacks, the poor, and the underdeveloped and disadvantaged nations around the world. If the BRICS strategy works, it will cause the devaluation of the Black dollar, in effect, causing increased inflation and an extreme burden on the African American/Black working man and woman, those on a fixed income, and pensioners. On top of that, a sliding dollar will deplete savings accounts, stocks and bonds, as well as a broad array of fixed income mechanisms
The new BRICS consortium will spend the new currency among themselves (absent the American dollar), reducing the world’s value and demand for the US dollar. Thus, causing massive inflation among the American citizens, and again, those already struggling in today’s economic climate worldwide. The shift in currency from the American dollar to BRICS, will cause inflation in the US to outpace individual’s salaries.
In America, there is is a constant push by many in the government to roll back all the gains made by African Americas/Blacks. From the Supreme Court significantly limiting the use of race in college admission to the now attacks on (DEI). Africans must collaborate and use their organizational and creative initiatives to create their own wealth and spend those funds within their own communities. It’s about building the better mouse trap for self as was done with the people who envisioned “Black Wall Street.”
Subsequently, what can Blacks/African Americans do to stabilize themselves in the event of a deep swing in the value of the American dollar should this proposed move take place? For one, Blacks/African Americans in the US and abroad, must diverse their savings by cross investing in things like gold as an emergency effort to combat a sliding US dollar. Gold is still useful as a hedge against inflation. In the event of a new BRICS currency, gold prices will most likely rise as the US dollar falls and become weaker.
As stated by the Biden administration, “consistent with expectation for a severe recession, most commodity prices fall. Precious metal prices increase as investors seek to diversify their investments, such as through the purchase of gold and silver.” Historically, gold have tended to do well during recessionary periods. During such a time, and where additional monies is needed, a person can cash in their gold by trading at a pawn shop, gold stores, or any organizations or businesses that have connections to the precious metal markets, to name a few.
Blacks must stop using credit cards for purchases. Credit card bills is destroying the black community its high interest rates. Whenever possible use cash, or at least have the available monies in the bank to pay your bill before accruing enhanced interest and high bank fees from late charges.
Secondly, Blacks/African Americans need to build stronger business networks among other black businesses in America and Abroad to trade, sell, and float monies among themselves to stabilize their own communities. They need to take the necessary steps to build banking and financial institutions where Blacks can obtain loans and invest in themselves to further broaden the black experience and the monetary base for blacks very similar to that in which BRICS is now implementing against America.
History can give a glimpse to what it means to live in a segregated environment. Over 100 years ago, “Black Wall Street” survived as a self-contained community and they didn’t just survive, they flourished. Dependability stifle growth and development, and makes one docile as well as unmotivated to succeed in life.
And finally, the Black/African American community needs to become more politically astute and organized to collectively voice mutual concerns in political elections where we will get more than lip service due to the strength and sheer numbers of a united voting block.
The U.S. Supreme Court Ends Affirmative Action in Higher Education. On June 29, 2023, the United States Supreme Court issued a long-awaited decision to address the legality of race-conscious Affirmative Action relating to College Admissions. They decided to end it, sight there is no more need for it.
Following this decision, the ongoing attempts stop DEI, and a racist plot to destroy the African American/Black growth in this country as well as abroad, we need to put more [B]lack representation in local, regional and national political positions within the United States. Especially, on the policy making levels, i.e., Congress and the Senate. Many will say we have representation. Unfortunately, it is believed not all that glitters is “gold.” In other words, not every Black official is connected to the needs of the Black community. Blacks will need to do a much better job vetting candidates for a higher quality result in terms of building stronger community ties, our own educational institutions, banks, businesses and aligning them with our partners throughout the African Diaspora.