Written by Michael Thervil
Saudi Arabia’s Crown Prince and Prime Minister Mohammed bin Salman photo by [MONEY SHARMA/AFP via Getty Images]
As we reported some time ago, whether the Collective West wants to admit it or not, the future of socio-economics belongs to the BRICS Block. BRICS (now known as BRICS Plus as membership has expanded) stands for Brazil, Russia, India, China, and South Africa is expanding even more than before. Of the 30 plus countries that have either directly signed on to become a member of BRICS or have expressed heavy interest in doing so; Saudi Arabia seems to be aiding in spearheading the charge for many counties both developed and underdeveloped to seek membership into the fold.
There are many reasons for this. Besides the obvious one of the powers of the Collective West (led by the United States) diving deeper into decline, more and more countries are lowering their risk of having to be adversely affected by U.S. Led sanctions on their countries if they choose not to play ball on America's terms. Within that, BRICS membership outright nearly guarantees that each member nations currency will not only become stronger, but it also allows BRICS members the opportunity to pay for some of the most sought-after commodities such as oil in their own currencies.
BRICS Core members from left to right Xi Jinping (China), Vladimir Putin (Russia), Luiz Inácio Lula da Silva (Brazil), Narendra Modi (India), Cyril Ramaphosa (South Africa)
Hence de-dollarization from the U.S. Dollar works in their favor. This is a very big incentive because it levels the playing field for many countries and allows for them to further buy oil without the monopoly that the United States currently has over the oil markets since the price of oil is based on the U.S. Dollar as it is currently the world's reserve currency.
Another upside is that BRICS membership allows for member countries to be free from the U.S. use of weaponized sanctions. America and the Collective West have been utilizing sanctions as a weapon for decades in order to bend and force countries to their will. In doing so, it allowed the U.S. to essentially cripple opposing nations by wreaking havoc on their economic systems. Moreover, BRICS membership allows countries the freedom to either continue to use or abandon the Swift banking system.
Sources IMF, World Population Review, El Statistical Review of World Energy, World Trade Organization
As the world currently knows, Russia fell victim to being locked out of the Swift banking system when they began their Special Military Operation against Ukraine. Although the sanction backfired, and they were able to recover; there was still damage done to the Russian economy. Another thing that BRICS shields membership countries from is the Collective West’s ability to seize their member countries assets to include their financial reserves. The more countries seek membership into the BRICS bloc, the more likely there will be a shift in the geopolitical arena.
That inevitable shift will not only result in the world becoming multipolar, but it will have exponentially far-reaching effects that will reach every sector on the world stage to include, healthcare, technology, military, rare earths material and minerals, and of course the import and exports of the multitude of existing commodities. For members of BRICS as a collective, this is a powerful move against the Collective West as they would place themselves in the position to control close to 80% of rare earth metals, minerals, and materials.
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