On the last day of the BRICS Summit 2023 in Johannesburg, BRICS (Brazil, Russia, India, China, and South Africa) announced six new members will officially join the group on January 1, 2024. They are Saudi Arabia, the United Arab Emirates, Iran, Argentina, Egypt and Ethiopia.
The combined population of the eleven nations will account for 46% of the world population. Their aggregated gross domestic product will total 37% of the global GDP in terms of purchasing power parity (PPP). This surpasses the G7’s (United States, Canada, France, Germany, Italy, Japan and the United Kingdom) GDP of 30.7%. Also, it is estimated that 80% of the global oil and gas productions are located in the BRICS nations.
What the West fear most is that BRICS encourages the use of local currencies in international trade and financial transactions between members of the group as well as with trading partners outside the group. This policy is a direct challenge to the US dollar hegemony, and would benefit everyone and secure the independence of those countries. Many want to regain their sovereignty since the dollar as the world primary reserve currency has been weaponized by the US.
At this year’s Summit there was (as yet) no discussion of creating a BRICS currency to rival the US dollar. Nevertheless, central banks can begin dumping their dollar reserves which they hold. In fact, the process of de-dollarization has already started. President Putin asserted, “The objective process of de-dollarization is gaining momentum, and it is irreversible.”
What or which currency will replace the US dollar as the world chief reserve currency is uncertain. However, what is certain is that the process of de-dollarization will eventually collapsed the US dollar as the greenback returns to the US in waves. The dreadful scene of the day it happened was revealed by Jehovah God to Pastor Shane Warren in a vision in 2012. In the vision, he was shown the US dollar bills falling down from the sky like abundant rain, and they are worthless as waste papers [Watch video clip of the vision below].
Before the collapse occurs, Pastor Warren was shown a group of world leaders in a meeting discussing the issue of what currency to adopt as a common currency among them. He saw the leaders of Russia, China, Iran, Egypt, Turkey, Saudi Arabia, among others, who were gathered in the room. Initially, it was difficult to believe that Iran & Saudi Arabia were among them since these two nations were bitter rivals for decades. However, they have since reconciled in March 2023, thanks to the mediation effort of China.
The important point to highlight is the role of Saudi Arabia. The US dollar was chosen as the world reserve currency back in 1944, and it was peg to gold, that is, US$35 is worth an ounce of gold, back then. In 1971, the US cancelled that arrangement to curb inflation and prevent foreign nations from overburdening the system by redeeming their dollars for gold.
Then in 1973, the US made a deal with Saudi Arabia, the world largest exporter of crude oil, in which the pricing and trading of it is in US dollars. With this arrangement, any country that purchased oil from Saudi Arabia would have to use dollars. This led many other oil-producing countries to also standardize oil prices in US dollars – and the petrodollar system was born.
Due to the petrodollar arrangement, Saudi Arabia has been a strong ally of the US but in recent years the relationship has been strained over a number of issues. Now the Saudis are feeling less and less retrained in seeking rapprochement with other super powers such as China and Russia even as their trust and dependence on the US is eroding.
What event, should there be a specific event that will trigger the collapse of the US dollar, we have to wait and see. Certainly, the collapse is on the horizon as the key players are being assembled who had a hand in bringing it down, just as Jehovah God had shown to His servants.
Vision of Shane Warren:
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