BRICS summit soon. I am really worried about Japan’s position and diplomacy.
【BRICS Summit to be held in South Africa next week, seeking a counterbalance to the West】
https://nordot.app/1064748073846472736?c=768367547562557440
・BRICS will hold a summit meeting in South Africa from 22-24 September. They are expected to discuss ways to develop the current loose federation into a geopolitical powerhouse to counter the dominant position of the West in the international community.
・Currently, about 40 countries have expressed interest in joining BRICS, including Saudi Arabia, Argentina, and Egypt
・The theme of the summit is “BRICS and Africa,” emphasizing solidarity with the African continent, where major powers are battling for power.
These are the quotes from the article
Focus on the Expanding BRICS
The BRICS are also known as the five emerging economies, but in terms of population and economic strength, they are the giant five.
The total population of the BRICS is over 3 billion, while the total population of the G7 is just over 700 million.
And not long ago, BRICS GDP surpassed G7 GDP.
Indeed, the global balance of power is changing.
【World Wealth Expected to Increase 38% by 27 Years, Decrease in 22 Years = Survey】
https://jp.reuters.com/article/marketsNews/idJPL6N39W0F3
According to this article,
“The countries whose wealth increased the most in the last year were Russia, Mexico, India, and Brazil.”
Why would Russia’s wealth increase during a war? You might wonder.
What was all that talk about economic sanctions against Russia, or that Russia is tired of a prolonged war?
Such a summit of BRICS, including Russia, will be held from 22nd to 24th.
Since “about 40 countries have expressed interest in joining the BRICS,” there is no doubt that the BRICS will become even more powerful.
And there is talk of BRICS countries settling payments among themselves in their own currencies without the U.S. dollar. There is even talk of creating a common currency based on a gold standard.
BRICs vs G7
Gold 🟡 buying pic.twitter.com/cLpsx7R8VA— Win Smart, CFA (@WinfieldSmart) August 10, 2023
This graph, the growth rate of BRICS gold holdings, makes the idea of a common currency based on a gold standard a reality.
Well, thinking about it again, the current world in which we continue to issue pieces of paper called money without any guarantees, such as in exchange for gold, is a very special one.
The world can be described as such a special case. The U.S. dollar is the representative and reserve currency of such a world.
Currently, all transactions of oil and various other things are conducted in US dollars.
For example, when Japan imports crude oil from Saudi Arabia, it once converts yen to US dollars and then converts riyals to US dollars before conducting the transaction.
This is how transactions around the world are conducted through the U.S. dollar.
The reserve currency, the U.S. dollar, continues to be issued without any guarantee that it will be exchanged for gold. (If the U.S. writes $100 on a piece of paper and says, “This is worth $100,” that is how the world works.) The U.S. is like Gian from Doraemon. (LOL).
The BRICS’ talk of settlements in their own currencies and a common currency based on a gold standard is a reversal of these fundamental principles.
The BRICS summit and the future of the BRICS are truly remarkable.
I am really worried about Japan at the mercy of the US.
I am really worried about Japan, which only has a viewpoint from the American (Western European) side.
See you then.
It seems that 93 countries will participate in the BRICS summit. I am really worried about Japan’s position and diplomacy.
