Whenever Xi Jinping makes a visit to a foreign country he clearly has an interest in that visit and recently the so-called "elected president" of China has been traveling to different countries, UAE and Russia being two of the most noteworthy ones.
While some believed that the Chinese communist leader went to Russia for a "peace treaty" regarding the Ukraine war, that wasn't actually the case. As it appears, Xi Jinping spent a couple of days in Russia just to "declare his friendship to Putin" and push the current process of dedollarizing the world economy forward while ensuring that the yuan is a viable candidate to replace the dollar in some of the current commodity trades.
By no means do I consider that the US dollar shall be "excluded from most of the international trades", or the global economy, but as we can clearly see it is gradually losing its grip over the most important international trades and the ability to "enforce sanctions"(the exact "powers" that gave it power). Russia is now probably the most sanctioned country in the world and in the midst of all of that Putin decided to accept trading Russian oil in yuan instead of the dollar.
While some of us might be looking at an end of fossil fuel use in the years to come and hoping for a quick transition toward renewable energy it seems that the demand for fossil fuels remains high. As a matter of fact, it was announced recently that the Referendum on whether to make Germany's capital Berlin "climate neutral" by 2030 has failed.
About a day ago I wrote a post about the threat that the Chinese yuan poses to the dollar and how the current episode in this play can also act as a defacto mechanism for pushing CBDCs "into production" globally. By no means do I believe that we will have a one-world-accepted currency, I guess that's crystal clear for everyone, but what I clearly foresee is the functioning principles of such a currency(programmable money) that will be pretty much the same in every country.
Saudi Arabia is importing huge amounts of diesel from Russia, despite producing more than enough of its own, and reportedly sending much of it to Europe, per Bloomberg. If that above-mentioned diesel is currently traded for US dollars I bet the Arabs will soon change the exchange currency from dollaz to yuans. Do you know why?
It's all over the news, you just have to connect the dots... Here's why...
What will the US will be left with once all major commodity traders switch from dollars to yuan(or whatever)? Well, its wars and a lot of hate... Moreover, "in the past year, Argentina, Indonesia, Saudi Arabia, Iran, Mexico, Turkey, the United Arab Emirates (UAE), and Egypt have either applied to join or expressed an interest in joining BRICS".
And I'm not over yet with my case... "Russia and India agree to trade oil for rupees, Russia being now India’s largest oil supplier, with 35% of that massive, growing country’s imports". Want more? Brazil and Argentina announce a common currency... Hmmm, something's happening.
My take is that India is not only just nailing a great deal on Russian oil(rumors are they're buying it with the equivalent of $50 per barrel) while they are using rupees for such trades, but some of it might end in Europe at a higher price thus making India profits. Cuz Europe is dumb and obedient as fuck and it follows the US blindly, especially when it comes to imposing sanctions.
Who's paying for these useless sanctions imposed by the US and the EU on Russia? You and I, taxpayers and consumers. So, in a conclusion, we are now witnessing the rise of a multipolar world and the fall of the dollar as a reserve currency.
Oil and gas are noteworthy commodities that have been so far transacted mostly in dollars and the reason why the US has invaded so many countries over decades since it established itself as an empire. Remember Iraq(free the Iraqis) in 2003(I guess)? It came literally days after Saddam announced he will be selling oil for Euros instead of dollars. Bush couldn't accept it so he sent Iraqis some bombs to "free them".
What is the US going to do now to defend the dollar? Invade UAE, Russia, China, or India? It can't... So, what's next?
Americans will probably have to prepare themselves for some insane inflation numbers in the years to come when all the dollar liquidity from the global economy gets back home. And yeah, the American empire looks to be shaking lately. Too bad it's the working people paying for all the shit the elites have indulged in for so many years... Sad indeed.
Thanks for your attention,
Adrian