Globally Countries Dropping The Dollar. More Countries Joining BRICS

Video Transcript:

The National Petroleum Corporation have agreed to switch gas payments to national currencies, rubles and U.N.'s instead of dollars. The decision was made at the Eastern Economic Forum via a video conference. The head of the Russian Energy Company says it will simplify transactions and set a new precedent. The new payment mechanism is a mutually beneficial, modern, secure and practical decision. I believe that it will simplify the process of payment implementation, become an excellent example for other companies and give an additional impetus to the development of our economies. The Rubell U.N. trade agreements will be used in sales and purchases through the power of Siberia gas pipeline. Discussions also took place over linking the power of Siberia to gas pipeline in Russia and the Sawyer's Volsztok gas pipeline in Mongolia, which will connect the Russian and Chinese gas transmission systems. Gas problem is already designing the Far Eastern gas pipeline. We can now cross to Shanghai Centre for RIMPAC and International Studies Vice-Chairman Ann Valdeye Club expert Nelson Wong. Thanks for joining us on the programme Mr. Wong-Gam. I'd really love to ask you how significant is the Russian Chinese decision to switch away from the dollar to using national currencies? How significant is this? It is quite significant, actually. Considering that the world is changing fast and so fast that the global supply chain is going through a major phase of reshuffering. So this gas deal between gas, coal and CNPC is quite a major contract between our two countries. So if this contract is now switched to be settled in Rubell's and RIMP or Yarn in our local currencies instead of the US dollar, it's quite a remarkable step. It will definitely set a president and it is a milestone step in terms of across water trade between China and Russia. So do you think we're going to see a global trend now where trade is going to be a national currencies? Well, it is certainly we're developing towards that direction for sure. This is not a stand-alone deal and the oil and gas deals between Russia and Europe have now been declared to be settled by Rubell's if they are willing to do that. So these are not stand-alone cases. So it's coming more and more countries are going to make their settlement in local currencies instead of the US dollar. So I think we're going to see more and more happenings like this in the near future. So how would you describe the current role of the US dollar and euro in terms of the world economy? The US dollar, as I understand, is still king when it comes to global trade. Of course it is still the dominant currency to be used in cross-border international trade. Relations with the rest of the world and especially with the Asian countries. As I see here, there are more than maybe 30 or 40 countries, delegations also from African countries and Latin American countries, not only from Asia because this region is mainly focused to make stronger relations between the Asian part of the world. And we as a young leader from different countries are here in the Eastern economy forum to set up a strong example and set up a strong relations between our countries to develop future products in different businesses. If you see from the last one or two months what active geopolitical, multicolor world is going on in the world like all shaking off these things is going on. Many countries from Iran, Argentina, Turkey, they have shown their strong interest to join the BRICS group. And already the BRICS format was introduced during the BRICS summit in the year 2017 during a sham in the summer in China. And already Argentina has applied to be member of the BRICS plus group. And next Iran also already signed up for this BRICS group and next many other countries are interested to be part of this great platform because now everybody understand if we compare the BRICS plus group and the G20 group. So these countries are much more growing in terms of great development, populations, land area, country size like that, especially Russia, India and China. Because Russia and India and China I feel plays a very important role in the world, especially in the multi-polar world because this is the 21st century of digitalization and no one country can rule the world. So it is the era of multi-polar world. Every problem give you new opportunities in life and this problem of second sanctions give a big golden opportunity to mere card system and Indian Rope card system to have a corporation and to develop local trade. So for the future to develop our trade relations business agreement we don't need to use the dollar or euros. So we can just pay by our local currencies like you on also like Chinese currency, you on like this. So our countries have set up the big benchmark for all other growing economy in countries like that. What we can now cross to Shanghai Centre for RIMPAC and International Studies Vice Chairman and Valdei Club expert Nelson Wong, many thanks for joining us on the programme Mr Wong GEM. I'd really love to ask you just how significant is the Russian Chinese decision to switch away from the dollar to using national currencies? How significant is this? Well it is quite significant actually. I mean considering that the world is changing fast and so fast that the global supply chain is going through a major phase of reshuffering. So this gas deal between gaspural and CNPC is quite a major contract between our two countries. So if this contract is now switched to be settled in a rubles and a running B or Yarn in our local currencies instead of the US dollar it's quite a remarkable step. It will definitely set a president and it is a milestone step in terms of across border trade between China and Russia. So do you think we're going to see a global trend now where trade is going to be a national currencies? Well it is certainly we're developing towards that direction for sure. This is not a stand-alone deal and the oil and gas deals between Russia and Europe have now been declared to be settled by rubles if they are willing to do that. So these are not stand-alone cases. So it's coming and more and more countries are going to make their settlement in local currencies instead of the US dollar. So I think we're going to see more and more happenings like this in the near future. So how would you describe the current role of the US dollar and euro in terms of the world economy? The US dollar, as I understand, is still king when it comes to global trade. Of course it is still the dominant currency to be used in cross-border international trade in today's market but it is actually the US government that is politicized their business. This has worried people and with all the happenings that we can see they are dividing the world into them and us and trying to incorporate ideologies, ideological differences or setting separating countries from democracies to authoritarian governments. This is completely destroying global trade that we know. So I think they've already got themselves to blame the Americans I mean. So the rest of the world is now waking up and everybody has to be prepared. People will have to be prepared for the expected and the unexpected. So this is all part of the strategic planning of all countries. Well we've had the situation now where Moscow is asking Western states to pay for Russian oil and gas in rubles. Western states are refusing to do so but is this policy strategically correct especially in light of the latest deal between Russia and China? Well I think Russia as a sovereign state also needs to protect its core interest and oil and gas is the main natural resources that Russia is selling to Europe. So of course I fully understand that Russia is taking this move and declare that people who wants to buy a Russian oil and gas will have to pay in rubles. So there is nothing wrong for any government to look after its own national interest. Now some more. Shanghai Center for RIMPAC and International Studies, Vice Chairman and Faldai Klubex but many thanks for your time. Really appreciate your interview. Thank you. Okay I want to follow up with these couple of reports here September 6th, 2022. Right here Dr. Doom predicts historic market crash in the US. This is a renowned economist, Noreal Rubeening. Warren's as a Fed tries to curb soaring inflation. That's right our Federal Reserve a private organization run by Zionist. The US economy could sink into a quadmyer and her dad were in a while of shrinking output surging inflation and soaring unemployment which we've been seeing for the last 10 years. Renowning economists in New York University professor Rubeening, Warren last week during an E-Doral webinar. He argued that the Federal Reserve might have to double interest rates to 5% in order to curb inflation which has been a ZERC policy zero interest rate policy. See IRP for many many years especially when they started printing hundreds of billions every month. However such an increase could choke economic growth and cause a spike in joblessness. Rubeening stress more over rising rates would trigger a debt crisis and that's because all your debts and loans now the interest rate goes up and you're going to have to pay out more just in interest payments if you have one of those interest only type of loans. This is what I want to bring to your attention here that Rubeening came to prominence for predicting the financial crisis of 2008 and it was dubbed Dr. Doom by Wall Street. See I did this. Predicted this back in 2004. I've got my family out of the United States in 2005 because I knew it was time to get out. I knew the economy was going to crash. I knew the real estate market was going bonkers more expensive than it's ever been in Southern California. So that's when I got out. I was on an international talk show circuit trying to promote the fiscal revolution which was the only peaceful revolution to solve this economic crisis and nobody listened to me. Everybody laughed at me but it was the only way to take control of the money flow in the United States and America and in the world. Nobody listened to me. I've been trying to promote this for 20 years best kept secret. I'm going to throw in here real quick to Brad Sherman's report on allowing voting against the implementation of printing money just out of thin air. Gain I hear is another report. Trust in dollar gone. Putin. Okay this was today I do believe Russia is gradually moving away from unreliable currencies that Russian President says. Traditional reserves currency like the US dollar and the euro have lost their credibility absolutely as a basis for international settlement says Putin. Western countries have undermined the foundations of the global economic system. There is a loss of confidence absolutely once again in the dollar. The euro and the pound sterling as currencies in which to conduct transactions. Okay he also noted that this tendency pushes Russia and many other nations to switch to other currencies most notable the Chinese line. This is where the BRICS countries come into play here. Okay step by step we're moving away from the use of these unreliable compromised currencies. Compromised currencies. Compromised currencies that has everything to do with the military industry of conflicts without wars without starting these wars and coups the dollar would not have any value. It's a petro dollar and people are equit paying petro with dollars and this is going to collapse the dollar even more. My concern here in Costa Rica is that Costa Rica buys dollars to secure their colony that's their monetary movement. And by the way even US allies are graphically reducing their savings and payments in dollars according to statistics. I will note that yesterday gas problem and this Chinese partner has agreed to pay for gas in rubles and yuan in the 50-50 split set food. As I had just reported earlier. Okay there you go the dollars crash in. I don't know what to tell you about it. It's going to collapse the only thing that stole the depression the recession was printing up which they're doing over a hundred billion dollars every month to flood the economy to hide the actual depression recession that is actually still in process and going on. And one of these days it's going to hit the fan and world collapse. Okay watch this on Brad Sherman report here he's talking about this bill out. This quantitative easing one two three and forever. Fair bit of from Costa Rica. City from Ohio the only way they can pass this bill is by creating and sustaining a panic atmosphere. That atmosphere is not justified. Many of us were told in private conversations that if we voted against this bill on Monday that the sky would fall the market would drop two or three thousand points the first day and other couple thousand the second day and a few members were even told that there would be martial law in America if we voted no. That's what I call fear mongering. Unjustified proven wrong. We've got a week we've got two weeks to write a good bill. The only way to write to pass a bad bill keep the panic pressure on.