Greg Hunter – Financial writer John Rubino warned two weeks ago that whatever came out of the BRICS (Brazil, Russia, India, China and South Africa) meeting this past week would be bad for the dollar. The dollar did not crash, but the prospects for it remaining the reserve currency of the world took a beating.
The BRICS added a half dozen countries into its group. Two of the most troubling for the dollar are Saudia Arabia (SA) (where the petrodollar started) and United Arab Emirates (UAE) where the U.S. has huge Navy and Airforce assets. SA and UAB officially joining the BRICS was nothing short of a stunning rebuke of U.S. financial and military power in the Persian Gulf.
Rubino says, “So, now we’ve got the world’s biggest oil exporter and the site of a very big U.S. military presence in an anti-dollar coalition. . . .
This is a very big deal because the BRICS are sort of a trade organization dedicated to bypassing the dollar and not living under U.S. rule any longer. These countries don’t want to be controlled by what they see as a predatory empire. . . .
They are looking at what is happening financially in the developed world, and the U.S., Europe and Japan are taking on debt at an accelerating rate in a way that is going to lead to a gigantic financial crisis. There is no way around that at this point.
If you are in the dollar centric trade system, you are vulnerable to a global crisis that is led by the dollar. So, you don’t want to be involved with that. There are a lot of reasons to set up a trade and monetary system that is not dollar based. One of the big ones is the dollar is going away because there is no way you can take on that kind of debt without a gigantic financial crisis and a currency reset at the end of it.”
Rubino goes on to say, “If we have a huge inflation-led crisis that ends up with a currency reset, you don’t want to own Treasury bonds. Dollars are no longer risk-free assets. . . . The BRICS countries have a lot of different motivations for forming their own coalition that is not vulnerable to the U.S. . . . It makes a lot of sense for them to do what they are doing.”
The term “Mad Max” and the scenarios it conjures are becoming more and more possible with the deterioration of the financial system. Weather warfare is being waged in places all around the world with the help of geoengineering. Woke culture is making many cities unlivable and unsafe. Then add a global monetary crisis, and you have a perfect storm of destruction everything civilized.
Rubino says, “There is a category of real estate called ‘cabin on land.’ It’s where you can buy 50 acres and a 400 square foot cabin with maybe solar panels and a well. Suddenly, that is hot property. Everybody wants one of those.
That’s a sign of societal breakdown. Something where you are all alone in the woods is your preferred lifestyle, that means the world has gotten pretty stressful. That is the case for a lot of people in the U.S. We are creating a generation of ‘end of the roaders and survivalists.’ They are looking at this world and saying I need an AR-15, a cabin with solar panels and I will be okay.”
Find out why Rubino says all financial roads lead to gold and silver and why Rubino says the prepper lifestyle is becoming more and more popular.
There is much more in the 50-minute interview.
Join Greg Hunter as he goes One-on-One with financial writer John Rubino and his new enterprise called Rubino.Substack.com for 8.26.23.
SF Source USA Watchdog Aug 2023