Provided that it is all by design, the US House ofRepresentatives (the House) today approved the seizure of Russian assets. This comes on top of the additional tens of billions of aid to Ukraine already promised yesterday (read looting money from the population via the money printing press), which is supposed to show Russia that NATO is not giving up. It is all a wash and for the stage and on that stage the game must now be played out that Russia and China will decide to dump their dollar reserves because of this seizure.
It also demonstrates to the entire world that your assets in the West are not safe, and so it sends a message that U.S. government bonds are probably no longer such a good investment either. Please read the tweet below from the politician who proudly threw this heist (for the stage) on X (formerly Twitter).
If you ask me, we should not be surprised if the BRICS countries, as well as countries like Saudi Arabia and other oil-rich countries, start to let go of the dollar and switch to Bitcoin. China in total holds some 3.21 trillion in dollar reserves. That is about double what the U.S. pays off annually in interest on its 34 trillion national debt, but it is a significant dollar reserve. And that, in turn, is because the Chinese economy is kept dollar-free. So when companies export and get dollars in exchange for their goods, the Chinese Central Bank buys up those dollars in exchange for the Chinese yuan.
China was already using many of those dollars to buy gold and fewer and fewer U.S. government bonds. If China permanently stops buying those government bonds because it wants to show solidarity with Russia, then that will be the end of the dollar. Meanwhile, if China also uses its remaining dollar reserves to buy Bitcoin, and all the other countries mentioned above join in, they will at once have a value fixed trading unit (the Bitcoin) to replace the dollar, and in one fell swoop the dollar will be out of play. Which then goes hyperinflation (with the euro in its wake).
Is that the scenario we can expect very soon or will the soup not be eaten so hot? If you ask me, the soup is going to be eaten hot and the hegemony of the Western Roman Empire breaks, as described in this article. So it certainly fits the bill.
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Russian Federation Council: 40 countries want to join BRICS
More than 40 states claim to join BRICS, the number of such countries is increasing every month, said the head of the Federation Council Committee on International Affairs Grigory Karasin during a briefing.
"More than 40 states are applying for BRICS membership. And every month the number of such countries is increasing. This shows that such a free, flexible form of interaction through BRICS is very attractive," the politician said.
He noted, referring to the opinion of other representatives of the association, that there should be no hurry to create a rigid charter of the group.
Earlier, Russian Foreign Minister Sergey Lavrov noted that the countries that joined BRICS in 2024 are already contributing to the work of the association in all major areas. At a meeting with representatives of the parliamentary committees on international affairs of the member countries of the association, he said that the involvement of a wide range of developing countries in interaction with BRICS will contribute to further consolidation of efforts of the world majority to solve common problems.
https://tvbrics.com/en/news/russian-federation-council-40-countries-want-to-join-brics/
The foreign exchange market includes all aspects of buying, selling and exchanging currencies at current or set prices. In terms of value, it is the largest financial market in the world, with daily trading of about $7.5 trillion, as reported by the BIS.
The U.S. dollar was on one side of 88% of all transactions.
(source:Connecting digital islands Swift CBDC sandbox project - Phase 2)
I think there is still plenty of stretch in it...for now
(read only via VPN)
The US and its allies have frozen around $300 billion worth of Russian assets. Western officials have argued that Moscow would have to willingly compensate Kiev for damage caused during its military operation before the money could be released. But EU nations, which are holding the lion's share of the frozen funds, are concerned that just spending the money on Ukraine's needs as suggested by Washington would destabilize the euro, according to media reports.
The bill which US lawmakers approved last weekend authorized the US president to confiscate Russian funds held in American banks and hand them over to Kiev. US Senator Rand Paul, who is skeptical of the proposal, warned earlier this year that the move would be "an act of economic war."
https://www.rt.com/russia/596391-peskov-confiscation-russian-assets/
Bitcoin will make this bullrun gigantic, but in its wake, the true decentralized monster is being brought to full maturity; ICP, which saw the light of day just before the previous bullrun, only to be openly manipulated to skyrocket immediately with that bullrun. As such, few see the true potential of this future monster. ICP is the trojan horse of crypto. It can handle anything in the blockchain, at any speed. The token that goes with it will eventually be of secondary importance when it comes to deflation, but in this bullrun it will become a "mega-ricer. Everything will eventually be implemented in ICP; AI and thus bitcoin and all crypto then existing. So in a nutshell: Bitcoin will become the inflation killer and implemented in the 'everything blockchain' ICP, which will become the cryptocurrency and the actual ruler of all, with bitcoin as the save 'deflationary' haven implemented in it.
ICP? Never heard of it. Can't imagine that will have any significant role.
Ethereum, Solana and Riple XRP are more the blockchain systems that conform to the CBDC plans and the associated desired interception capabilities.
Ah, you mean this:
https://internetcomputer.org/what-is-the-ic
Yes, possibly. BlackRock is betting on Ethereum, and Ethereum is a totally non-decentralized proof-of-stake crypto (read: majority ownership determines), so if Ethereum is going to do the smart contracts, that would be an ideal replacement for the CBDC.
https://www.wsj.com/livecoverage/fed-meeting-fomc-interest-rate-decision-march-2024/card/blackrock-launches-first-tokenized-fund-on-ethereum-blockchain-nzDSJjH5mEijUzKO24T4
Yes, Ethereum as a CBDC replacement falls idd exactly within the non-decentralized concept. But as you also pointed out earlier, CBDC will be controlled/forced out and replaced by (what everyone then thinks) true decentralization, such as
Bitcoin. That Ethereum will then take over the role of CBDC I do not know and I think Ethereum is too obviously a centralized thing and the masses will see it as such (which of course is the intention). So then you automatically end up with ICP (internet computers protocol). That seems to be the perfect decentralized platform for just about everything and thus also an ideal 'trojan horse'. Everyone gets sucked in and thinks they are free of all centralization. But we all know that it is precisely at such moments that the snag appears.