Brazil and China Unite Against the Dollar
Brazil and China have decided to ditch the dollar and start trading in their own currencies, the Brazilian government announced on March 29. This is huge news—the latest in a massive trend that is about to change the economic world as we know it.
- Brazil is the largest economy in South America.
- China is the largest economy in Asia.
- In 2009, China overtook the United States as Brazil’s largest trading partner. That was bad news for the U.S., but the countries still used the dollar as the intermediary currency. This latest development is far worse.
The strength of the dollar: Following World War ii countries around the world started trading oil in dollars. International trade in general became based on the dollar. This meant the dollar was in high demand—and it was key to allowing the U.S. to live on debt. But as U.S. debt rose to tens of trillions, countries started decoupling from the dollar.
Demand for the dollar is declining. The U.S. will soon be sitting on trillions of dollar bills with no long-term use for them; inflation is a very real fear. The dollar’s strength is quickly becoming its weakness.
Part of a larger trend: Just a few of the major events:
- Sanctions placed on Russia after its invasion of Ukraine caused the Asian giant to make agreements using its own currency.
- Iran and China quickly cooperated.
- Latin America jumped on board.
- Argentina and Brazil announced their own common currency.
- Saudi Arabia saw the U.S. weakness in the region and announced it was open for trade in other currencies.
United against the dollar: The world is not only becoming independent of the dollar, it is uniting against it! Isaiah 23 prophesies of an economic alliance that will besiege America (see also Deuteronomy 28:52).
Today, the U.S. trusts in the dollar as its security in world trade. But Trumpet editor in chief Gerald Flurry warned in the December 2014 issue of the Trumpet magazine that this will lead to America’s downfall:
America’s enemies are going to cause economic problems and bring on destruction in many ways “until thy high and fenced walls come down, wherein thou trustedst, throughout all thy land: and he shall besiege thee in all thy gates throughout all thy land, which the Lord thy God hath given thee” [Deuteronomy 28:52]. The real pressure is coming from without. “In all thy gates” refers to a trade war. The enemies of America, Britain and the Jews will attack their currencies, their financial markets and their economic might.
Watch these events unfold. A banking crisis in the U.S. is looming. Debt and inflation are rising, and nations around the world are uniting against the dollar. Economic collapse is imminent. To learn more, read “Uniting Against the Dollar.”