BRICS+ Membership Swells
Thailand is the latest Asian nation to join BRICS+ and more will follow because of Western arrogance and mismanagement.
Good Morning - Last year I wrote several essays that culminated in a video about BRICS+ (see below). As it stands today, BRICS+ has swelled to 9 members soon to be double digits once applicants (15 nations total) like Thailand join. The consensus in the Western Press has been consistently dismissive of the project and the core of this dismissiveness is arrogance.
Eurocrats like EU Representative for Foreign Policy Josep Borrell have intimated that whereas "Europe is a garden. Most of the rest of the world is a jungle." I strongly reject that assessment for many reasons, first among them personal experience living in both worlds. Western countries have regressed into lawless jungles thanks to delusional bureaucrats like Borrell while Eurasia is rising.
It is important to make clear that BRICS+ represents perhaps the greatest assembly of geo-political power the non-Western world has ever seen. To date, BRICS+ encompasses:
1. 50% of Global GDP
2. 55% of Global Purchasing Power
3. 3 of 5 Largest Oil Producers
4. 2 of the 3 Largest Nuclear Arsenals
5. 50% of the Global Population
Its colossal size and power has been ignored by others like ECB President Christine Lagarde who said at a conference last year that:
“Think for a second about what these countries really have in common in terms of demographics, in terms of geo-political alliance, in terms of history and background, and ask yourself whether they have enough in common to actually volunteer their currency to something that would be jointly organized, cared for, and used in the future…A common currency cannot be just something nice to have that you decide on the flight…It is an expression of your sovereignty."
Sadly, Lagarde like the rest of the eurocrats (and DC) fail to understand European history, and ignore the straitjacket that the Euro and the EU have imposed upon Europe. From its inception, the Treaty of Rome (then Paris) were cantankerous and a common currency was bitterly opposed by most of Europe, especially the Germans and Italians neither of whom were then or are now comfortable with a common monetary union.
Franco-suspicion of the Eurodollar dates back to De Gaulle who demanded a return to the gold standard in 1965, which ended Bretton Woods and forced Nixon to begin the Age of Fiat a few years later.
Monetary unions, trade agreements or other international alliances must be predicated on COMMON economic, political, and security interests while preserving the sovereignty of its members. BRICS+ accomplishes all of the above:
1. Economic - members have an economic interest to trade with one another and transact in local currencies
2. Political - members agree that Western Sanctions represent an existential threat and oppose remote financial gatekeepers
3. Security - members agree that Western military-political interference is an existential threat to their interests
There is something else happening as well. The gold price has been surging for the last 2 years much to the bewilderment of Wall Street. However, price movements reflect increasing purchases from China and India (RBI recently repatriated Gold held by BOE back to India) who are slowly de-dollarizing and likely prepping for a repeg to Gold.
Such a move represents a repatriation of financial power from West to East through Hong Kong. At the same time, Shanghai Gold Exchange (SGE/SGEI) could become a repository for a gold-backed BRICS+ trade currency.
All this is to say that effectively BRICS+ among others (SCO) serves as a Eurasian Maginot Line, a common defense against Western finance and military-economic-ideological hegemony. It is no less equivalent to the Monroe Doctrine, an effort to instantiate hemispheric independence and autonomy from would be DC / Brussels interference.
Once understood from this perspective BRICS+ continued expansion and geo-political empowerment works inversely to the weakening of the dollar-fiat-system. Once enough time has passed and the West looks more and more like a jungle rather than a garden, perhaps Westerners will affect a paradigm shift and throw the lawyers and gerontocrats out in DC and Brussels.
Stay liquid, stay alert.