By: Denise Simon | Founders Code
BRICS is a collection of countries that launched in 2010 to dominate the global economy. BRICS stands for Brazil, Russia, India, China, and South Africa.
Just recently, a BRICS summit was held in Johannesburg to discuss the next mission and that is oil and the expansion of alternative currencies.
(Video Credit: FRANCE 24 English)
Russian President Vladimir Putin attended by video link since he is facing arrest by the International Criminal Court for war crimes. That has not stopped the emerging threat BRICS is about to impose on the global stage… control of at least 30% of the world’s oil industry.
Putin in his remarks states that Western powers with their “neo-liberalism” pose a threat to traditional values in developing countries.
Several additional countries were extended an invitation to join BRICS. They include Saudi Arabia, Argentina, Egypt, Ethiopia, Iran, and the United Arab Emirates. If these countries accept the invitation to join, collectively 30% of the world’s GDP would be under BRICS. China pushed the hardest for the expansion of the bloc as a way to counter Western dominance.
White House National Security Advisor Jake Sullivan attempted to play down the bloc’s expansion plans.
He said that due to BRICS countries’ divergence of views on critical issues, he did not see it as “evolving into some kind of geopolitical rival to the United States or anyone else.”
BBC posted in part by Sarang Shidore, director of the Global South program at the Quincy Institute in Washington:
‘US can’t set all norms’
Nevertheless, the Brics expansion does represent a shift.
“No longer is it a world where the US can set all the norms, or drive all the institutions. There’s no question about that. But a replacement? No, I would say much more of a complementarity than a replacement that is on the horizon,” Mr Shidore added.
So for a group that says they all value and respect each other’s opinions, maybe no-one won or lost. It really was just a diplomatic gathering with some give and take.
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President Biden does not take issue with any of this since he continues with his war on domestic oil production. He just blocked and restricted oil and gas development in the Gulf and millions of acres of land giving eco groups all they want.
Does this look like the United States has energy stability now or in the future?
The new composition of BRICS will control 80% of world oil production With the addition of Saudi Arabia, the United Arab Emirates, and Iran to the BRICS, the Union will be able to control the lion’s share of the world’s oil production. The same goes for the sharp GDP growth of the new BRICS countries. It will amount to 30% of world GDP and exceed $30 trillion.
This is now a global oil cartel… oh add in OPEC.
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BRICS 11 has more like 37% of world GDP (PPP) and 47% of world population. It dwarfs the G7. It also include The 1st, 2nd, and 5th largest evonomies in the world (China, India, Russia), most of the oil production, and three of the most powerful military powers, all with strategic nuclear weapons. A couple of dozen other countries want in.
This is a reaction against Western and US colonialism.
BRICS 11 is primarily an economic and political organization. Its most significant activity is BRICS Bank, which finances development projects in the developing world. It competes with the World Bank and IMF, which are controlled by the US.
More importantly, its membership overlaps with Mercursor, EAEU, SCO, BRI/OBOr, and the north south transit corridor from Russia to India.
The expansion of BRICS is a very big deal, and indicates the Global South (Global Majority, Global Global) is finally organizing against the West. Game over. W to Russia and China.
Iam so scared that 30% of the world’s shitholes are part of this scheme. I grew up in the 60s and 70s and it seems to me that an even larger per centage of the globe was betting against America. In 20 years no one remember this though they may ask if these grifters put their money in Switzerland or the Carribean.