BRICS Currency: Shaking Up the Global Financial System?

Hello everybody and welcome to Geopolitical Trends. My name is David Oualaalou. So good to be with you as always. BRICS nations are working on developing a new currency. We could— I can feel comfortable saying they are going to develop a new currency. In this video, I'm going to provide you my assessment and how this will impact not only geopolitics but also global economic order. Before I'll do this, I'd like to thank the channel's members and subscribers, and for you also, the subscriber. And if it is your first time landing on this channel, please make sure to subscribe and smash the notification button so you will be notified every time I upload a new video. And thank you all for your continued support. Let's dive in, in this, you know. Well, I'm not gonna be focusing about yet it's another sign that the dollar dominance is waning and all that. We all know this by now, the signs are all over. What I'm gonna be focusing about is the long-term impact economically and geopolitically of the emerging or the emerging of a new, new currency. And by the way, guys, this is not gonna happen tomorrow. Let's just make that clear. So, so here is what happened. The state— the Russian State Duma deputy chairman, his name is Alexander Babakov, said, and I quote, let me get the quote here for you guys, I'll upload it here. The transition to settlements in national currencies is the first step. We've already seen this occur with recent oil deals between India and Russia being settled in currencies other than dollars. End of quote. Yeah, it makes now perfect sense because again, putting my geopolitical analyst hat on, you're going to be thinking in terms of, okay, what are the steps or phases that BRICS is going to be doing to sort of reach that level where their currency— they'll agree all on a common currency. That they can trade between themselves. Well, the trades you— we are talking about here between, for example, India and Russia, between the, the agreement that Brazil and China just reached about dumping the dollar and using the yuan and the reals in their bilateral trade, India and Bangladesh, India and Malaysia. And I did a video for you guys on all those topics here. You know, those are the first steps, okay? Because you're gonna think about, uh, what will be after that. Well, what after that is gonna become— by the time they agreed, you could be seeing a circulation of a digital or some other form of fundamentally new currency in the near future. That's the way I see it, to the point of you're gonna be asking now the question, are we gonna be seeing all the online shopping be conducted in the Chinese yuan or renminbi? That's a fair question. As a matter of fact, one of our viewers here, if I recall, William, he asked that question, and, and it's legitimate questions and a right one. Yeah, there is the possibility you could see that among the BRICS members. And here's the way I see it. I see that, uh, I think that the BRICS, uh, uh, the summit that is coming up soon in May, it looks like to me that the leaders of the BRICS are ready to realize this project, and it will be announced during the upcoming, uh, uh, meeting. I think that's the surprise the upcoming BRICS summit meeting in South Africa, it's going to hold— it's going to have, rather. So, so Babakov, the, the, the, the deputy chairman, also stated that a single currency could likely— listen to this carefully, guys— single currency could likely emerge within BRICS. And, and, and what's important about this? If that single currency is going to emerge, it will have to be backed to something, right? Well, you have only two— not only, but there are two main options there. You have gold. Given the amount of gold that Russia and China have been amassing, India has a lot of gold, South Africa and Brazil can have enough to manage for this emergence of this new currency, but also it will be about rare earth minerals. So it's not going to be just backed to gold, it could be backed also to other group of products like rare earth minerals or even oil. And why oil is important? Because you're going to have to consider what if— it's not what if, it's when Iran and Saudi Arabia join in. So you can just see why. So this is the economic angle of it, you know, as more and more nations now look to really get away from the, the dollar, which is devalued, still strong in the market. You know, let's not confuse this that the dollar is— has collapsed. No, it's not, and it's gonna take time, but you are seeing the signs moving forward. And the BRICS alliance in this case are now greatly considering creating their own currency. As I said, it will be backed either by gold, rare earth minerals, or oil. In other words, some tangible assets. Uh, ours, you know, is backed by debt. That's basically it, you know. But there is one thing you need to make sure of about, uh, when it comes down to, uh, uh, a new currency. Is the reliability and, and trust. So this is why I say it's gonna take time, uh, for this to emerge, and, and it will work. I, I, I believe it will work now. Now the other aspects to think about, the geopolitical angle of it, is, you know, how this is going to change fundamentally the global order as we know it. Well, what do I mean by this? You know, if— what I mean by this is that you're gonna see now more countries And there are already more countries now expressing, uh, interest in joining BRICS. You look at Argentina, Iran, Saudi Arabia, Egypt, and Turkey, among others. You also have like Kazakhstan, you know, Nicaragua, Nigeria, Senegal, Thailand, United Arab Emirates, Algeria, Bahrain, and others, you know, Mexico, our neighbors to the south, for example. Yeah, those are very, very significant geopolitical hints as to how this global order, the emerging one, it's gonna be, be managed. You know, this is where the key to it. So, and as I said, the major shift onto the global order as countries are reorienting because what this is gonna do to their political calculations is that more countries gonna have to go back to the drawing boards and reassess their strategic interest in the emerging new global order. The meeting is coming up soon for the BRICS, and I— it's gonna be the first thing on the agenda. You know, I don't claim to have knowledge of what's on the agenda, but it's just common sense, guys. It's common sense, you know, it's gonna be. And that is how I see the approach of BRICS moving forward with this. While most other people do not know, this is the reason why I like to come on the air right away and release this kind of content for you of interest. If you happen to be an investor, if you are interested in investing, you know, you look at the opportunities. We're looking at oil, energy, You're looking at gold as hard asset. You're looking at rare earth minerals. You know, there are opportunities there because anytime you have a new, new, uh, uh, development like this, there are always investment opportunities that comes with it. So, and even the Babakov, the deputy chairman, said, and I quote here, the BRICS nations are developing a strategy that does not defend the dollar or the euro for that matter, and that a single— this is the key— a single currency would likely emerge within BRICS that is pegged to the gold or other groups of product. That is where I see the importance of it. So, because remember, BRICS is, uh, yes, it doesn't have this major, major economic punch into the global economic order, but you can't minimize its impact when you have 40% of the global population and a quarter of the, uh, of, uh, one quarter of the global GDP. That's no small matter. You have to consider these aspects moving forward for that. So, and like I said, the countries that I mentioned to you earlier, they're gonna, because they have something to add to the BRICS. And like I said last time, and I said it few months ago, it's now or never for BRICS. That's how I feel. It's now or never. If they don't play their strategic cards the right way, they're gonna lose this opportunity. I don't see them doing that because we've pushed— we, the Americans on this side, or the West for that matter— we pushed the weaponization of the US dollar far beyond belief. You know, we abuse that power, like I always say, because as I always say, power is responsibility. This is where I see it going. So let me provide you my brief conclusion here. Like I always say, I like to keep the, the videos, the videos short, concise, and to the point. You know, here is what you're gonna need to look for, especially this is for the American audience, my fellow Americans, which I hope they will wake up soon. To realize what lies ahead so they can prepare. And even it might be a little bit too late, but it's never too late. So if the demand for the dollar tanks, meaning goes down, so the greenback's value, the dollar value, will quickly erode away. That will be a major thing. That means even worse price inflation for all of us Americans. Because for a simple reason, we don't produce anything. We purchase, we buy, we import everything. You know, we produce weapons. Well, people's not gonna eat weapons. Yeah, common sense. But joking aside, you know, we don't produce anything. You know, if it weren't for other markets in Asia, we will be struggling here. You know, because the cost, the regulations, and so forth. And in the worst case scenario, if this happens, it could collapse the dollar completely. That's where I see what lies ahead moving forward. So like I always say, I hope people in America here wake up and, and stop pretending that the dollar will always gonna be strong. It won't. But this is where the BRICS is gonna be now moving forward. And you take this in coordination with what's going on in Asia with Asian monetary, that, that means they are looking to, in, to, to create their own, same in line with like what the euro did. So, and this is why I see that geopolitical shift that will be headed by the economic and the financial aspects. So, so make sure to leave me some comments, uh, and I'll be happy to to answer some of your questions there. I hope you find this very informative, and I look forward to seeing you next time. As always, remember, geopolitics impacts your daily life in more ways than one. Till next time, guys. Bye-bye.