Civilization & Dollar Are Going to End – John Rubino

August 28, 2023

by Greg Hunter USA Watchdog

Financial writer John Rubino warned two weeks ago that whatever came out of the BRICS (Brazil, Russia, India, China and South Africa) meeting this past week would be bad for the dollar. The dollar did not crash, but the prospects for it remaining the reserve currency of the world took a beating. The BRICS added a half dozen countries into its group. Two of the most troubling for the dollar are Saudia Arabia (SA) (where the petrodollar started) and United Arab Emirates (UAE) where the U.S. has huge Navy and Airforce assets. SA and UAB officially joining the BRICS was nothing short of a stunning rebuke of U.S. financial and military power in the Persian Gulf. Rubino says, “So, now we’ve got the world’s biggest oil exporter and the site of a very big U.S. military presence in an anti-dollar coalition. . . . This is a very big deal because the BRICS are sort of a trade organization dedicated to bypassing the dollar and not living under U.S. rule any longer. These countries don’t want to be controlled by what they see as a predatory empire. . . . They are looking at what is happening financially in the developed world, and the U.S., Europe and Japan are taking on debt at an accelerating rate in a way that is going to lead to a gigantic financial crisis. There is no way around that at this point. If you are in the dollar centric trade system, you are vulnerable to a global crisis that is led by the dollar. So, you don’t want to be involved with that. There are a lot of reasons to set up a trade and monetary system that is not dollar based. One of the big ones is the dollar is going away because there is no way you can take on that kind of debt without a gigantic financial crisis and a currency reset at the end of it.”