Today’s business news and the latest updates
BUTO: Financial | Business News
Animation by: QuinceCreative
BRUCE T. OSBORNE, SR. | Publisher
BUSINESS | FINANCE
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 for 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 directed diplomatic activity nationally and abroad. The power held by this new American aristocracy was and currently phenomenally 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, playing a major part in foreign countries’ policy decisions and outcomes. For those who do not comply with the “New Imperial Dynasty’s” demands, they would be subjected to the long arm of American justice, and face 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 ruling party through its’ 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 plans to back it with gold, and “South Africa has a lot of it.” Operationally, South Africa is a great partner for the BRICS group.
South Africa serves as an additional source of backing for the new BRICS mixed currency through its gold reserve, aligning it with the group’s strategy to provide monetary stability, increased investment, and increased trade options. Through this mechanism, BRICS aims 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 plan appears to be similar to the historical Imperial dynasty of America’s corporate elites and their monetary system. The BRICS new business model reverts back to the previous system 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, while increasing loyalty and demand for the BRICS currency, as well as the expansion opportunities for new foreign corporations and investors.
Moreover, by replacing the American dollar with the BRICS currency, BRICS could ultimately reduce the United States dominance over international monetary affairs. Additionally, it will stop America from using the U.S. dollar as a tactical weapon against Europe and beyond, through imposing devastating sanctions. A new BRICS currency would weaken the overall U.S. effectiveness of sanctions and help the BRICS group to challenge the strength of the American dollar both domestically and internationally by providing an alternative currency.
The creation of a centralized currency by BRICS had been in the works for several years to replace the U.S. 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 U.S. 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 providing more opportunity to international economies by creating a new currency, backing it with gold. They hope to achieve better opportunity and to create “stability as well as unwavering” markets as was the case with the U.S. during the 1950s to 1960.
The BRICS plans to reconstruct the well-established reign over the American dollar is 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 challenge the dominance of the American dollar appears to be well-organized, robust, and promising. However, its proposed feat will not be as transformative as the American system, which 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 surfaced, highlighting internal disagreements on policy issues, power, and control. However, if the BRICS herculean task becomes a reality, its outcome could be devastating for the citizens of America, particularly for Blacks and poor communities in the U.S. and abroad.
Replacing the U.S. dollar with a new dominant currency, will devalue an already sliding American dollar, disproportionately impacting Black Americans, as well as poor whites and marginalized nations around the world. If the BRICS strategy works, it will cause further devaluation of the dollar, in effect, increasing inflation and placing an extreme burden on African American/Blacks workers. It will have a harsh effect on minorities 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 investments.
The new BRICS consortium will spend the new currency among themselves (absent completely of the American dollar), reducing the world’s value and demand for the U.S. currency. 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 U.S. and will outpace individual’s salaries in America.
But, now it appears that BRICS is returning to the old standard paradigm of America providing more opportunity to international economies by creating a new currency, backing it with gold. They hope to achieve better opportunity and to create “stability as well as unwavering” markets as was the case with the U.S. during the 1950s to 1960.
The BRICS plans to reconstruct the well-established reign over the American dollar is well-organized, quite robust, and assuring. However, its proposed feat will not be as transforming as the American system has been embedded for many years.
The BRICS plan to challenge the dominance of the American dollar appears to be well-organized, robust, and promising. However, its proposed feat will not be as transformative as the American system, which 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 surfaced, highlighting internal disagreements on policy issues, power, and control. However, if the BRICS herculean task becomes a reality, its outcome could be devastating for the citizens of America, particularly for Blacks and poor communities in the U.S. and abroad.
Replacing the U.S. dollar with a new dominant currency, will devalue an already sliding American dollar, disproportionately impacting Black Americans, as well as poor whites and marginalized nations around the world. If the BRICS strategy works, it will cause further devaluation of the dollar, in effect, increasing inflation—placing an extreme burden on African American/Black workforce. It will have a harsh effect on minorities 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 investments.
The new BRICS consortium will spend the new currency among themselves (absent the American dollar)—reducing the world’s value and demand for the U.S. currency. Thus, causing massive inflation among the American citizens, and again, those already struggling in today’s economic climate worldwide.
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.”
HOW CAN AFRICAN AMERICANS/BLACKS COMBAT A DECLINING AMERICAN DOLLAR AND SURVIVE A LOOMING RESSESSION?
The declining value of the American dollar due to the rise of the BRICS nations could have devasting consequences for the African American/Black community. As the dollar weakens, inflation may rise, causing everyday goods and services to become more costly. Further it will deepen financial instability, particularly for communities already facing economic challenges (including poor whites). What can African Americans/Blacks do to stabilize themselves in the event of a sharp decline in the value of the American dollar, should this proposed shift take place?
One strategy is for the African Americans/Blacks in the U.S. and abroad to diversify their savings by cross investing in assets like gold, and to advocate for policies that promote financial resilience and education. This can serve as emergency efforts to combat a sliding U.S. dollar, while stabilizing the future for Blacks and ethnic minorities. Keeping in mind, gold historically has been useful as a hedge against inflation. In the event of a new BRICS currency, gold prices would possibly rise as the U.S. dollar fall, become weaker, and ultimately loses its’ value.
Under the Biden administration, “It was predicted that the United Stated could enter a severe recession, and most commodity prices would decline. They believed that precious metal prices would increase as investors seek to diversify their portfolios, with “gold and silver.” Historically, gold has performed quite well during recessionary periods. During such a time, where additional capital is needed, individuals can liquidate their gold by trading it at a pawn shop, gold dealers, or any organization or business that have connections to the precious metal markets.
Blacks must stop using credit cards for purchases. Credit card bills are destroying the Black community with its’ high interest rates. Whenever possible, one should use cash, or at least have the available monies in the bank to pay bills before accruing enhanced interest on borrowed money and high bank fees from exorbitant late charges.
Secondly, African Americans/Blacks will need to build stronger business networks among other Black and ethnic minority communities in America and abroad. These networks should focus on trade, selling, and circulating money among themselves to stabilize Black and minority communities. Steps must be taken to build banking and financial institutions that can provide loans to Blacks and minorities, enabling them to invest in their own businesses and communities. This approach is similar to the strategy used by the BRICS nations in their efforts to reduce dependency on the U.S.
History provides glimpse of what it means to live in a segregated environment. Over 100 years ago, “Black Wall Street” survived and thrived as a self-sustained community. Not only did they survive, but they also flourished as well. Dependency stifle growth and development, making good people complacent as well as unmotivated toward succeeding on their own in life.
Finally, the African American/Black community must become politically astute and better organized. They will need to “collectively” voice their mutual concerns in political elections—in order to achieve meaningful and positive outcomes—rather than having political representation giving lip service while voting against their interest. Maybe if we were more community aligned and politically determined, we might have been able to prevent the outrageous, unjust, and inappropriate reversal of Affirmative Action in Higher Education.
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 and university admissions. The Supreme Court, in a historic decision, decided to end it—citing that there is no more need for it.
Following the Supreme Court’s decision, there is currently an ongoing effort to abolish Diversity, Equity, and Inclusion (DEI) initiatives. This is a racist plot to aimed at undermining the successes, contributions, struggles, developments, and growth of African Americans/Blacks in America. The [B]lack community must plan, organize, and implement an aggressive strategy to vet and support political candidates who will represent their interest at the local, regional, and national levels, particularly in policymaking bodies such as the U.S. Congress and Senate.
The Black community has made significant inroads in electing several African Americans to the U.S. Senate and Congress. Unfortunately, it has been said that “not all that glitters is gold.” In other words, not every Black official is connected to the needs of the Black community. African Americans will need to do a much better job vetting candidates that will fight for the needs of the Black community, regardless of whether they are Black or white.
In this new age of “Trumpism,” African Americans/Blacks and other ethnic minorities will need to build stronger community alliances, as well as banks, businesses and schools, and align these efforts with partners throughout America and the African diaspora who share similar values and interest.