Author: Dr. Bob Thiel

Europe’s euro is struggling and the US dollar has strengthened against it.

Europe will have a lot more inflation if that situation does not change.

But what about the USA dollar?

While it remains the world’s primary reserve currency, actions by its government, including sanctions, are getting much of the rest of the world to take notice–particularly Russia and China which have objected to various USA sanctions.

Notice a report from the Epoch Times:

China and Russia Want to Replace US Dollar With BRICS Currencies
July 11, 2022
The BRICS—an acronym for Brazil, Russia, India, China, and South Africa—held a summit on June 23. The meeting, chaired by Chinese leader Xi Jinping, was part of a lengthy series of BRICS cooperation events, which began on June 6 with the second finance ministers and central bank governors meeting and ended with the second meeting of the committee of senior energy officials on June 28.
In his opening remarks, Xi stated, “We should also expand BRICS cooperation on cross-border payment and credit rating to facilitate trade, investment, and financing among our countries.”
He went on to reaffirm the Chinese Communist Party’s (CCP) commitment to working together with the BRICS nations to achieve the CCP dream of the Global Development Initiative (GDI). …
Both Xi and Russian President Vladimir Putin called for payment alternatives to decrease the U.S. dollar’s dominance in international trade and to reduce U.S. control of the SWIFT system.
According to the Chinese state-run tabloid Global Times, bankers and economists in BRICS countries have recommended that the bloc “expand national currency settlements and lending to counter the US’ weaponization of the dollar.” …
They resent the dominance of the U.S. dollar as a reserve currency. They do not want the dollar to be the currency of international settlement. And they are threatened by the necessity to transact international payments through the U.S. SWIFT system, which depends on U.S. banks.
The reason why countries use the U.S. dollar in the international settlement is because commodities such as oil are priced in dollars, and because the dollar is a stable currency that is readily convertible everywhere in the world. None of the BRICS currencies are considered fully convertible. …
An alternative recommendation by Putin and bankers in Russia would be to use a basket of currencies. This idea is modeled on the IMF’s SDR, which is composed of a basket of international currencies, including the U.S. dollar, euro, yuan, Japanese yen, and British pound. SDR can be transferred or held in reserve. https://www.theepochtimes.com/china-and-russia-want-to-replace-us-dollar-with-brics-currencies_4585640.html?utm_source=partner&utm_campaign=ZeroHedge

Argentina would like to join BRICS:

Argentina’s government said on Thursday it had received China’s formal support for the country’s bid to join the BRICS group comprising Brazil, Russia, India, China and South Africa, a bloc seen as a powerful emerging-market alternative to the West. https://www.reuters.com/world/americas/argentina-says-has-chinas-support-join-brics-group-2022-07-07/

Notice something Newsweek reported:

July 1, 2022
Iran, already an SCO observer, began its formal membership ascension process amid the latest leaders’ summit in September. On Monday, the Iranian Foreign Ministry announced the Islamic Republic would also seek to join BRICS.
Across the Persian Gulf, Saudi Arabia has also reportedly considered applying for BRICS membership, as revealed by Russian Foreign Minister Sergey Lavrov during his visit to the kingdom in late May. The announcement followed Saudi Arabia joining Argentina, Egypt, Indonesia, Kazakhstan, Nigeria, Senegal, Thailand and the United Arab Emirates at China’s invitation for a “BRICS+” discussion, after which Chinese Foreign Ministry spokesperson Wang Wenbin announced members had “reached consensus on the BRICS expansion process.” https://www.newsweek.com/nato-grows-china-russia-seek-bring-iran-saudi-arabia-fold-1720780 https://www.newsweek.com/nato-grows-china-russia-seek-bring-iran-saudi-arabia-fold-1720780

More and more nations are trying to bypass the USA. If Saudi Arabia joins, it will help mark the beginning of the end of what has been known as the “petrodollar” (the implicit backing of the USA dollar by oil).

As reported here before, a major reason that the BRICS group of nations was formed was to push aside US dominance in financial and other matters. This was publicly confirmed by former Brazilian President Lula back in 2019:

BRICS was created as a tool of attack: Lula
In a wide-ranging, two-hour-plus, exclusive interview from a prison room in Curitiba in southern Brazil, former Brazilian president Luis Inacio Lula da Silva re-emerged for the first time, after more than 500 days in jail, and sent a clear message to the world. …
My first question to Lula was about BRICS and the current geopolitical chessboard, with the US facing a Russia-China strategic partnership. As president, from 2003 to 2010, Lula was instrumental in formatting and expanding the influence of BRICS … He emphasized: “BRICS was not created to be an instrument of defense, but to be an instrument of attack. So we could create our own currency to become independent from the US dollar in our trade relations; to create a development bank, which we did – but it is still too timid – to create something strong capable of helping the development of the poorest parts of the world.”
Lula made an explicit reference to the United States’ fears about a new currency: “This was the logic behind BRICS, to do something different and not copy anybody. The US was very much afraid when I discussed a new currency and Obama called me, telling me, ‘Are you trying to create a new currency, a new euro?’ I said, ‘No, I’m just trying to get rid of the US dollar. I’m just trying not to be dependent.’” 08/28/19 https://www.asiatimes.com/2019/08/article/brics-was-created-as-a-tool-of-attack-lula/

Note: Former President Lula seems to have been referring to the start of the BRIC group, which later became BRICS.

Though most pundits do not seem to believe that the USA dollar can be pushed aside as the world’s primary reserve currency, others disagree. Here is one such disagreer from Canada:

Why the U.S. dollar will be replaced as the dominant global currency — sooner than you think
Not long after the first gunfire erupted at the onset of Russia’s invasion of Ukraine, Russia fired another multi-pronged shot, straight across NATO’s financial bow.
First, and as a reaction to the crippling sanctions and its exclusion from the global SWIFT money transfer system imposed by the West, it moved quickly to protect the ruble by raising interest rates to 20 per cent (subsequently lowered to 11 per cent) and imposing capital controls. Then it demanded that all “non-friendlies” (the West) could only use rubles or gold to buy its much-coveted oil. Russia, which has spent the better part of the last decade getting rid of its U.S. dollars and increasing its gold reserves, also offered to buy gold at the rate of 5,000 rubles per gram. Russian President Vladimir Putin is advocating that BRICS economies look into creating an international reserve currency using the basket of their own currencies. Finally, he started making noises about creating a gold-backed ruble. Why is there any significance to these moves?
The writing is on the wall that some form of change is imminent, and a global monetary system reset may already be underway. According to Credit Suisse, this new economic order will revolve around commodity-based currencies. These commodity-based currencies will further weaken the Eurodollar system, which will be much weaker after the war between Russia and Ukraine ends.
How all these things evolve, and their timing, are beyond anyone’s forecasting abilities, but something will eventually replace the U.S. dollar as the sole dominant global reserve currency, perhaps sooner than anyone expects.
I expect, at the very least, an “alternative trading” currency to emerge and compete with the dollar. https://www.thestar.com/business/opinion/2022/07/05/a-giant-shakeup-looms-for-the-world-financial-order-and-the-us-might-be-the-big-loser.html

Yet the BRICS nations, as have the Europeans and some others, have been taking steps they hope will one day push aside the US dollar.

This could happen within the next several years–U.S.A. itself, could be gone by 2028?.

The dollar is still king. But it is a king over a kingdom looking to rebel.

US-led sanctions against Russia are harming the USA dollar. Weaponizing the dollar against North Korea, Iran, China, Venezuela, and others has a cost.

Yes, to use an American expression, the USA “has been shooting its own foot.”

We are currently in the time of Anglo-American dominance–peoples that were prophesied to take on Jacob’s name in Genesis 48. We have been in that time since around the start of the 19th century.

Yet, now we are getting closer to the final Time of the Gentiles.

Notice the following prophecies from the Old and New Testaments:

23 ‘Make a chain,
For the land is filled with crimes of blood,
And the city is full of violence.
24 Therefore I will bring the worst of the Gentiles,
And they will possess their houses;
I will cause the pomp of the strong to cease,
And their holy places shall be defiled.
25 Destruction comes;
They will seek peace, but there shall be none. (Ezekiel 7:23-25)
23 But woe to those who are pregnant and to those who are nursing babies in those days! For there will be great distress in the land and wrath upon this people. 24 And they will fall by the edge of the sword, and be led away captive into all nations. And Jerusalem will be trampled by Gentiles until the times of the Gentiles are fulfilled. (Luke 21:23-24)
2 But leave out the court which is outside the temple, and do not measure it, for it has been given to the Gentiles. And they will tread the holy city underfoot for forty-two months. (Revelation 11:2)

This will happen during a period that “it is the time of Jacob’s trouble” (Jeremiah 30:7) and that the “Gentiles” are dominating. This means those that are descended from Israel or have the name of Jacob (cf. Genesis 48:14-16) will be mainly the ones who are trampled on. One of the peoples that God says He will use to punish the descendants of Israel, Assyria (Isaiah 10:5-11), are a Gentile people–they will normally lead during the time of the Gentiles. This will be a terrible time.

For the final time of the Gentiles to arise, the Gentiles will need to cooperate together against the USA and its Anglo-Saxon descended allies. The BRICS, EAEU, EU, and the China’s Belt and Road Initiative are all intended to do that and are all taking steps which align with properly understood biblical prophecies.

Yet, most in the USA, Canada, UK, Australia, and New Zealand do not understand what is now happening on the world scene and how they will be affected.

There is a cost to US trade policy, sanctions, and international bullying.

The Biden-Harris Administration, which does not value biblical prophecies, seems unable to see where its actions are leading.

The world will be transformed into a Gentile image. An image that those in the Anglo-American nations will dread!

Policies by the USA and other Anglo-Saxon-Celtic descended nations are accelerating this trend.

We are getting closer to the final time of the Gentiles.

Full article with related written items/videos: ‘China and Russia Want to Replace US Dollar With BRICS Currencies,’ Argentina wants to join BRICS, and ‘Why the U.S. dollar will be replaced as the dominant global currency — sooner than you think’

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The Times of the Gentiles