Sven Longshanks and Dr Matthew Raphael Johnson discuss the global financial situation, how sanctions on Russia backfired and have ended up threatening American financial hegemony.
Liberalism is based on it’s capitalist economic order. Today, as Russia and the BRICS are disengaging from the dollar, the American empire is tottering. As of a few years ago, all credit purchases were managed by the SWIFT system, a network based in Belgium. Since the sanctions on Russia, a competitor has appeared, MIR, which today is now larger than SWIFT.
On March 1, the Russian Association of Internet Trade Companies, the Retail Companies Association brought suit against Mastercard and Visa for their monopoly status. This can only increase MIR's popularity. Turkey and Iran, two first world economies, have joined the group, dumped their dollars and increased it’s power immensely.
This parallels the work of the Eurasian Economic Union of Russia, Belarus, Armenia, Kazakhstan, Kyrgyzstan and Moldova (Tajikistan, Uzbekistan, Mongolia, Turkmenistan, Iran, Turkey, Syria and Tunisia are reportedly planning to join the union soon). They now have their own development bank that can assist countries in getting away from Jewish controlled financial structures.
Presented by Sven Longshanks and Matt Johnson
The Daily Nationalist: BRICS Challenge to the US Dollar – DN 030719
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