by Tom Renz, Esq., America Outloud:
BRICS is a very important thing. BRICS is Brazil, Russia, India, China, and South Africa and has spread to many other countries. BRICS is all about the de-dollarization of the world. Everything in the world trades on the dollar, or at least it used to, and now everything is not trading on the dollar. This is crucial, and it’s vital to understand what’s going on in the world.
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Let’s do some Economics 101 stuff. When we look at the economy, we have to understand that every economy is based on certain premises. We also need to understand that every economy is based on certain necessities, things like food, water, shelter, energy, etc. In America, we have an abundance of natural resources. When you look at how a nation develops an economy, it starts with developing things like food, water, and shelter. Barter systems are put in place, and over centuries, we’ve decided money is a much handier way than trading physical objects.
We’ve got to the point where money is being exchanged, and when America began, the pilgrims were able to get established with the natural resources. Fields where crops could grow were abundant, the climate was good for growing food, and water was available. As we continued to grow and develop into a modern industrialized country, other resources became important, like oil, iron, minerals, and an abundance of trees. Natural resources are the things that goods are made of. You start out with needs, and then you are able to move to wants.
If you want to build a widget, you need to build it out of something. If your widget is built out of metal, if you can’t mine the iron, you have to get it from somewhere. So if the United States doesn’t have iron available and we need iron to make a widget, guess what we have to do? We have to get it from another country that does have iron, we have to trade for it, and we have to trade something of value. We don’t typically trade goods. We use money. We trade on the basis of money, so the value of money is something you agree on. If we say when we buy iron from another country, we are going to buy it with dollars, well then the value of those dollars really dictates this.
Let’s talk about what’s happened in America. To start out with, we created and obtained our own natural resources. Then we built factories and turned our natural resources into things that were useful. Natural resources became a critical part of the supply chain. What we’ve done over the past couple of decades to destroy America is destroy links in our supply chain. For example, Joe Biden won’t let us mine or obtain any of our own natural resources. We have plenty, but we aren’t allowed to use them. That means if we want resources, we have to trade with other countries. We quit producing our own resources, but we still have the factories. People then continued to buy our goods with dollars. Those dollars allowed us to keep our economy moving. Then we created a war on manufacturing through regulations, EPA regulations, environmental, healthcare mandates, etc. They made it so expensive to hire workers and so difficult to get goods that it destroyed our industrial base. A few decades ago, we moved into what they call the service economy. When you have a ton of money in your nation, wealthy people pay for services. The service economy only exists if the people have money to pay for those services. We’ve destroyed enough links out of the supply chain that the wealth will run out. Internationally what are any other countries going to buy from America? We don’t create anything.
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