🔴 BRICS NEW WIN: Egypt Ditches US Dollar and May Return to Gold Backed Currency
🔴 BRICS NEW WIN: Egypt Ditches US Dollar and May Return to Gold Backed Currency
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How Egypt going to get foriegn aid,? No brics, buying food, no brics currency, guess what usa dollars buy food, grain and raw materials
Thank god.
Just recently got back from the Dominican Republic and in the last few years i have noticed that they want to be in their currency, not so much in the US dollar.
Philippines should also do this
Thank you!! ❤
With the collapse of china Russia stocks housing bubble and protesters famine. They are going to be screwed ccp to save there manufacturing will crash the Chinese money ruble will folow .
Please be very careful ,the UNITED STATES OF ISRAEL MOSSAD ,and the J**ISH BANKERS will retaliate.
Now Egypt needs to act for Palestine
Even if the word keeps itself capitalistic , it will change drastically with the Breton Woods agreement gone and the US empire in chambles.
🙏🏽🇧🇷🇷🇺🇮🇳🇨🇳🇿🇦 plus our new friends. 👊🏽
Lena, please let me know if you are still here on youtube, this is your last video that l watch. l can't open Rumble anymore, l don't know why.
Capitalism is dying out in the US anyway so if we go broke, the only other option is becoming comrades.
"Egypt Ditches US Dollar"
Looks like Egypt isn't interested in any more USA foreign aid. Oh, well…
The last time Iraq wanted to do this, guess what happened?
More U.S prints and spends the less power the dollar has.
Thomas Sowell said it If biden becomes president we may never recover.
Biden caused rhe start of the de-dollorization of the world because of his ignorance.
Cut off all US Tax dollars paid to Egypt welfar support F them.
Saludos Colega. Blackrock quiere Regresar a mi Mexico. . .Via Invasion, para Robarnos ( oootra vez ) el abundante Petroleo, Gas Natural, Electricidad, Oro, Plata, Litio, y Tierras Raras !!! Este Mega Grupo Inversor ( blackrock ) es el Que Manda A Los Presidentes, Congresistas, Gobernadores y Alcaldes del Hoy Imperio Caido de E.U. !!!
I hope you will be doing a critique of the citigroup commercial real estate analysis that came out recently. In an earlier video you had a graphic that showed citigroup with one of the lower loan coverage ratios of the major banks
Thanks Democrats hegemony for only Joe being able to wreck the American Dollar.
The USA expect to make fake money aka Cbdc and command the world to use digital code on some web as money ?
More proof democrats are destroying America
Good video. Countries are finally waking up.
Does it meant that all country that join Brics will have all the people come out of poverty , then that would be a good thing , but if it only benefit the rich then what’s the big deal
Next maneuver for Egypt is to form alliances with Russia and China, don't expect America and the world bank to be happy about losing so much credit, and interest.
Build up your defenses
Egypt !
Does America really expect any Moslem Nation to stand with it
while the Zionists are annihilating the Palestinian Nation and people, blood runs deeper than the dollar.
De dollarization is trending worldwide ✨
Many countries are abandoning the dollar. Why even consider using it after the weaponization of the currency.
It’s best to use their own currency for the long run. Relying on the dollar is very dangerous for any country!
The world is leaving the dollar behind and many more will jump on board. The dollar is becoming useless and soon will becomes useless.
Lena can do a better job than me in explaining what will happen if the dollar loses its reserve currency, but from what I have pieced together from the experts, this is the probable outcome.
Dollars will have to be firmly tied to goods and services (lets call this GS: the many things of value), or there will be inflation. This has always been true in theory, it is economics 101. However, having the reserve currency is an exception to this, as long as we don't print too much. This exception has allowed the US to generate actual wealth that would normally need to be generated by GS, by simply printing money. This allowed the US to run large deficits with little or no inflationary impact.
The recent inflation we have experienced was do to over printing during Covid. If the economy wasn't shut down during Covid, we would likely not have had the inflationary effect, even with the current deficit spending.
Once we lose reserve currency status, any printing not tied to GS will be inflationary. So the US loses the option to pay for these deficits with the printing press. From this point, it becomes political. The politicians will have to synificantly cut entitlements or synificatlely cut defense, or both, to balance the budget. I don't believe there is the political will to do either. So they will instead turn to reducing the living standards of American citizens.
There are two ways for them to reduce our living standards: either raise the taxes of not only the wealthy and upper middle class, but also the taxes of the middle class: working families; the top 1% can not generate enough tax revenue because there isn't enough of them. Politically, while they will probably raise some taxes, I don't believe they will raise the taxes they need to solve the problem by also targeting the middle class. Imagine tens of millions of hard working families living paycheck to paycheck, with little or no savings, having rents or mortgage payments, car payments, etc, then having their incomes cut 7-10% a year due to tax increases. This leaves one other way to reduce your living standards: more printing (inflation).
Inflation is the option they will choose, because they believe most of you are stupid, and will believe them when they deflect blame elsewhere: on a war, the other party, evil Putin, big oil, etc, They will assure you with promises during each election that they will do something about it, and most of you will believe them. but they can't unless they stop the deficit spending, something they won't do.
So inflation will be at least 10-15% for at least several years. This could reduce what you are able to buy with the dollars you earn by half within sven years. So take your family income you earn now and cut it in half; that will be your living standard, plus some wage increases that won't compensate for inflation. If they don't adjust the tax brackets for inflation like they do now, this will be a indirect way of taxing the middle class, because when you earn more of these weakened dollars, you will move into higher tax brackets.
Over several years of this tax bracket creep, deficit spending could end, and inflation could return to normal, but your living standards will not return to where they were. Cars, phones, clothes, food, computers, etc, will be much more expensive than before. America won't be that unique place of prosperity anymore; it will be just another of the nearly 200 countries.
Our living standards will not be determined partly on our ability to print wealth, but solely on how productive our work force is. To have higher living standards relative to other countries, we will need to increase efficiency (productivity) by utilizing emerging technologies; AI, robotics. self driving trucks, etc. This will significantly cut low skilled jobs across many sectors, not just in labor. Americans could have adjusted to this thirty years ago, and re-trained.. But after 60 years of accepting tens of millions of low skilled immigrants who have had tens of millions of children with each generation usually only capable of lower skilled occupations, the capacity of our population to re-train is limited. We should have planned for a 21st century economy, and opting for more skilled immigration over various professions: including STEM fields like scientists, mathematicians, engineers. etc, but we didn't.
Since we can't have a 21st century work force when most of our population only have aptitudes commensurate with low skilled occupations, if we automate these low skilled jobs. unemployment will increase significantly and remain high. We wont be able to expand welfare to accommodate this many people. This will incentivise politicians to put in place safeguards to protect these jobs. Our decline will then continue in perpetuity.
The US is finished as a military or economic superpower; all that's left is to watch it play out. We will continue as a viable country, similar to a South American country like Brazil, except that we will have larger slums.
Egypt 💯 wise move
I support such conduct, let's make fresh air a currency, of trade. this would be a good investment, with policing enforcement. revenue raised could be a commodity of trade.
Just another dead beat country With little economy and products to sell to the world. How do they plan to pay for the US weapons?
Accept Saudi The other countries are financial basket cases ,broke or heading that way. Good luck
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The Fed tried to make an example out of Gaddafi, raping him with a bayonet from behind ..
The arrogant never see it coming until it hits like a ton of BRICS.