The Crisis Is Getting Bigger — This Is How I Secure My Assets
Ever since 9/11, we seem to have been in perpetual crisis mode, with only a few small recoveries in between. But in the last few years, the number of blows has definitely increased. The impacts are coming closer and at shorter intervals.
Just a reminder:
- 9/11 and the war on terror
- Wars in Afghanistan and Iraq
- Financial crisis 2009 with all its consequences
- War in Syria and refugee crisis 2015
- Corona from 2020
- Ukraine war 2022
The world is divided
In response to Russia’s invasion of Ukraine, Western countries have disconnected Russia from the SWIFT system. This is the system for international payments, dominated by the United States.
But this has not dealt a death blow to Russia’s economy.
onversely, its ties with China and other Asian states have become closer. India remains neutral in the Ukraine war.
On August 22, 2023, the BRICS countries (Brazil, Russia, India, China, South Africa) will meet for their summit in Johannesburg, South Africa.
They have already announced in advance that they are thinking about creating a gold-based new world reserve currency.
Attack on the petrodollar
This is clearly an attack on the hegemony of the U.S. petrodollar, through which the majority of international transactions are still conducted. U.S. power is based in good part on the petrodollar.
As a reminder, after World War II, the U.S. agreed with Saudi Arabia that they would sell oil only in exchange for dollars.
In return, they would protect it.
That agreement has recently been weakened. The Saudis have indicated that they can imagine selling oil in other currencies.
They have also expressed interest in joining the BRICS (as have a number of other countries).