Manlio Dinucci
Red Voltaire
In just a few months, the rebellion against the US currency empire has translated into action. The amount of dollars in world reserves fell in 2022 to 47%. The United States Secretary of the Treasury, Janet Yellen, has gone so far as to declare that “there is a risk, when we use financial sanctions linked to the role of the dollar, that over time these could undermine the hegemony of the dollar.”
While the US Secretary of Defense, Lloyd Austin, summons in Germany the «Ukrainian Defense Contact Group» to send more and more weapons to Kiev and to fuel the war in Europe, the Russian Foreign Minister, Sergei Lavrov, toured Brazil, Venezuela, Nicaragua and Cuba.
In Latin America, the continent that the United States considers its “backyard,” a project is being born whose development would undermine the very foundations of US economic power in that region. Brazil and Argentina have concluded an agreement to create a new common currency that they will use, instead of the US dollar, in trade between the two countries and with other Latin American countries. In Brazil, Lavrov met with President Luiz Inacio Lula da Silva, who specifically calls for “the end of the commercial domination of the dollar.”
This same objective is included in the communiqué on the strategic association between Brazil and China, a communiqué issued at the end of President Lula’s visit to Beijing. That document announces that “Brazil and China have agreed to strengthen their exchanges in local currencies.”
Brazil and China, which are members of the BRICS group, also agreed to jointly promote the New Development Bank (NDB), the main financial institution of the BRICS, an alternative to the US-controlled World Bank.
In trade between China and Russia, which doubled in the space of a year, the currencies of those two countries are already used instead of the US dollar. The same criteria prevails in the agreements that China concludes with a growing number of Eurasian countries, within the framework of the “New Silk Road”.
Faced with the growing rebellion against the domination of the dollar, the pillar of Western dominance, the G7 foreign ministers, meeting in Japan, they respond with a true declaration of war, announcing new “sanctions” against Russia and ordering China and other countries to “cease assistance to the Russian war or suffer grave costs.”
As the United States and its allies increase their deployments of military forces, including nuclear weapons, targeting China, the G7 foreign ministers warned the Asian giant that it must “refrain from the threat and use of force.”
Red Voltaire
