Will BRICS Smash the Dollar?

Guest Post by Ron Paul

Donald Trump’s legal troubles, the possibility that Joe Biden will face an impeachment inquiry, and other stories related to the upcoming presidential election, caused the American media to miss a story of potentially greater significance. This was the decision of the BRICS (Brazil, Russia, India, China, and South Africa), who formed their alliance to challenge US political and economic dominance, to induct six new countries into their group: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates.

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THE WORLD IS DEDOLLARIZING

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Washington’s Power Will Decline With the Dollar

Guest Post by Paul Craig Roberts

Saudi Arabia’s recent announcement that the government is open to accepting payment for oil in currencies other than the dollar is a major announcement ignored by the presstitutes.  The end of the petrodollar would have severe adverse effects on the value of the dollar and on US inflation and interest rates.

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A New Gold Standard? Kremlin Confirms Intention To Back Ruble With Gold And Commodities

Via ZeroHedge

Submitted by Ronan Manly, BullionStar.com

On Tuesday 26 April in an interview with newspaper Rossiyskaya Gazeta (RG), the Secretary of the Russian Federation’s Security Council, Nikolai Patrushev, said that Russian experts are working on a project to back the Russian ruble with gold and other commodities.

The interview, which is in Russian, can be seen on the RG website here.

For those who don’t know the name Nikolai Patrushev, Patrushev is one of the Russia’s most powerful security / intelligence officers and a close ally of Putin. After serving between 1999 and 2008 as Director of the Russian Federal Security Service (FSB) (the successor organization to the KGB), Patrushev moved to being Secretary of the Russian Security Council since 2008. In fact, Patrushev took over as Director of the FSB in 1999 from the previous incumbent, Vladimir Putin.

The Security Council of the Russian Federation is chaired by Putin, with Patrushev as Secretary, overseeing the Security Council and answering directly to Putin. The deputy chairman of the Security Council is Medvedev Dmitry, the former Russian president and prime minister. Among the other member of the Security Council are current Russian prime minister Mikhail Mishustin, and Russian foreign minister Sergei Lavrov.

So when Nikolai Patrushev says that Russia is working on a plan to back the ruble with gold and commodities, it is not just anyone saying this, it is being said by the highest echelons of the Russian Government.

Media coverage (in English) of Patrushev’s 26 April comments can be seen on the Russia Today (RT.com) website here. For those who cannot access RT.com due to it being locally blocked and who don’t want to use a VPN, the RT.com article can be seen on ‘thethreadtimes.com’ website here.

Patrushev and Putin

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