France Joining BRICS Could End the Reliance on the US Dollar in Global Trade!

Hello everyone and welcome to Geopolitical Trends. My name is David Oualaalou. So good to be with you as always. Is France going to be the first European country to join BRICS? And if it does, how will that shape the Atlantic relations between the United States and Europe? And what will the economic and geopolitical impact of that will be. In this video, I'm going to provide you a brief analysis as to the geopolitical and economic outcome should France join BRICS. But before I'll do all that, like always, I like to extend my thanks to the channel's supporters and members. And for you, if this is your first time landing on my channel here, please make sure to subscribe and smash that notification button so you will be notified every time I upload a new video. Let's dive in into this. The South African, uh, Ambassador at Large, his name is Anil Sokhlaal, confirmed that some European countries— he didn't specify the name— confirmed that some European countries have expressed interest to join BRICS. And BRICS, as you know, Brazil, Russia, India, China, and South Africa. Now, if we are to think what the development of statement like this sort of will attract headlines around the world, because who on earth will ever thought a Western nation like France, which is a, a close ally of the United States, will all of a sudden wants to break away from with the US and join BRICS. Ah, sometimes you just need to use a little BRICS and take a step back and rethink about something like this. What will be the objective and the purpose of it, you know? So the development comes at a time— of course, the development of this news comes at a time when France is looking to end the reliance on the US dollar for global trade. That's the economic side of it. It's because France is losing big time. You all remember what happened with the Australian submarine deal, that we, the United States and UK, stabbed France in the back and we took the contract away from them, which is not a, not a And that's not a behavior you do, business-wise, that is. So France also seeing now that they can't get, for example, because we all know what's going on in Europe right now with the gas crisis, or the energy crisis, that is, and Europe seems not to be able to get gas from elsewhere at a cheaper rate. They getting some You know, we wanted to sell them gas 10 times the price. You know, China is selling gas to Europe, of course not at the same rate Russia was selling them to Europe. Like I always say, back then when the conflict started, I said, mark my word that Europe will not survive economically without access to cheap Russian energy. And here it is. So could it be that France now is seeing where this trend is going and there is no letup to the Ukrainian-Russia or to Ukraine-Russia conflict and they wanted to jump on the wagon before it's too late? You know, that's, that's, that's one argument. And also when you think about the statements, it comes at a time when the French president Emmanuel Macron also called for Europe to resist the pressures of becoming America's followers. Well, wait a minute, who are you saying this to? You know, all of you, all of Europe. You take an exception of sometimes Hungary. Orbán tends to say no when it is time to say no. I don't see France doing that. I don't see Germany doing that. I don't see Italy, Spain, Portugal UK, you name it. No. So, and this is why I am leaning more towards thinking in terms of could be the statement just to test the waters to see, you know, how we will be received, how the US will react, because that will be a big blow to the Western alliances if France joined BRICS. It's a big blow even though Common sense will suggest you're looking at a different ideology, you're looking at different systems. It could work and it could not work because one element that's going to be at the forefront of all members of BRICS is trust. Can they trust the French? Could it be that the French just becoming a member to spy on the other members? Yeah, it's a logical argument. I won't dismiss that. That's the possibility. Because how can you be in the EU? How can you be in NATO and at the same time you want to be in BRICS? This is like the argument that I've always made about India being in Quad and at the same time in BRICS. It does not bode well for its own credibility. So basically, uh, with something like this, if France ever joined BRICS— because there are steps they have to go through before that approval— and second, BRICS will have to discuss this in the upcoming summit, uh, in South Africa in 2023, which by the way, there is a possibility that the meeting will not be taking place in South Africa because South Africa is a member of the ICC, the International Criminal Court, which issued an arrest warrant for, uh, the Russian President Vladimir Putin. So there is a possibility that the meeting could be moved into China, and China is not a member of the ICC, and China would provide security for the Russian president. Should that move forward. So, so it becomes a question, the logical question for us is, is Macron, by saying this, shouting at the European Union to end its reliance on the US dollar, especially on the financial? Why? Because BRICS is moving, is in the process of developing a currency where they can trade bypassing the US dollar. And again, if France is to go with on this route, it's because they are losing serious economic business opportunities, that is, because the euro is tied to the dollar. And the dollar, when it sanctions countries, we all know what happens. And they are seeing that The end is coming for the US dollar, and France wants to move on first on that one. And also because France seeing the dollar as a great risk. There is great risk when you tie your finances to the dollar, and that's exactly what they did with the euro. Because back then, France used to use, you know, there was the European Union, but is still using their own individual currencies. Which is exactly what the president of Brazil is calling for, uh, with the Latin America, uh, currency called the SOAR, uh, between certain countries in Latin America. But that will be just used for trade. The countries will maintain their own currencies, which is a smart move. That's the way I see it. And this is why— is because Europe must not be caught up in crisis that are not ours. The end of quote. This is what Macron said. Uh, yeah, let me repeat this quote for you. The US dollar as a currency comes with a risk, and Europe must not be caught up in crisis that are not ours. End of quote. So, so basically what Macron's message is, is hitting at the dollar. We want to be out of your strangle financially, that is. So of course, the ambassador-at-large, Suklal, did not mention the name of the countries in Europe who once— who, or who expressed interest in joining BRICS. But you can tell he was hinting at France, you know. But mind you, why is this important? It's because if you think about what took place a few months ago when France settled a transaction of liquefied natural gas trade with China, they settled that in the Chinese yuan currency, not the US dollar. That's how they paid for it. So the development of this transaction was the first time— get this, guys— it was the first time a European ally with the United States sidelined the US dollar altogether and chose the Chinese yuan for cross-border transaction. That's a big blow to the US dollar. So, and the deal, of course, it involved the 65,000 tons of liquefied natural gas from United Arab Emirates, which is why it became the first yuan-settled trade through the Shanghai Petroleum and Natural Gas Exchange. It didn't go through New York Stock Exchange or the London Stock Exchange. No, it went through the Shanghai Petroleum and Natural Gas Exchange. That's a big blow, big blow to the US. Now you think about geopolitically, why is this will be important? What it will be important for? One main reason, and that main reason is that France is convinced that the world is shifting from a unipolar to a multipolar. Remember when France president and the European Commissioner Ursula von der Leyen went to China? You know, they both went at the same time but on separate planes. Playing a good cop, good and bad cop. You know, French President Emmanuel Macron, of course, and the European Commissioner Chief Ursula von der Leyen. You know, the reason why is because they wanted to put pressure on Beijing on several issues, but mainly using Chinese influence to condemn Russia to end the Ukraine war. Well, wait a minute. China, of course, didn't do that. China is smart enough to know. But wait a minute, who's fueling the conflict? That's just common sense question. Is the, the West by design? That is where the reason. And interesting enough is that before her arrival, von der Leyen, known as the bad cop in this case from Brussels, had criticized Chinese President Xi for maintaining his friendship with the Russian President Vladimir Putin. What the heck? What do you expect? You can't be dictating to other leaders whom they can have friendship and with whom they shouldn't, they shouldn't have friendship with. Who are you to dictate the terms? It's almost, I feel like, when the Chinese say to Van der Leyen, you You shouldn't be fueling conflicts in Ukraine. But the Chinese didn't say that because that's not their business. It's the Europeans that's causing that. So you can just see the double standard. And this is where the geopolitical angle to this statement by France about joining BRICS is that they are realizing that the world is shifting from a unipolar to a multipolar. That is the reason why. So let alone that Vanderlaan— Ursula, rather, Vanderlaan, believed that she could threaten China, which would be a mistake anyway. That's stupidity of the highest order. So that's how I see it, you know. For now, suffice it to say that this announcement about France is thinking— remember, I didn't say France is joining France is thinking about joining BRICS is a big deal. But remember, there is a process in the— there's steps in the process, and BRICS will have to consult among its members whether it's feasible or not, because once again, the element of trust is going to be the key factor into all this. If you like the content of this video, hit that like button. I would really appreciate it. And subscribe if you have not done so. And thank you for your support. Hope you find this very informative. And as always, remember, geopolitics impacts your daily life in more ways than one. Till next time, guys. Bye-bye.