The emergence of BRICS, now including Iran, signifies a notable shift in global power dynamics as these nations engage in trade without relying on the US dollar. This change reflects a decline in Western hegemony, historically upheld by economic dominance and the 'petrodollar' system, which prices oil in US dollars. Iran's departure from the petrodollar and similar actions by Russia, especially in response to US sanctions, demonstrate that countries can bolster their economies through non-dollar transactions. This resistance challenges the perceived invincibility of the Western economic framework, as these nations seek alternatives to the US dollar. Additionally, the geopolitical conflicts, such as the Ukraine war, reveal deeper economic motivations tied to resource control rather than mere territorial disputes. The BRICS summit, often overlooked by mainstream media, underscores the disruptive potential of these emerging powers as they collaboratively navigate around Western financial systems, marking a significant transformation in international relations and trade.
Pagers and walkie-talkies explode across Lebanon, P Diddy goes to jail, and Kamala debuts her new accent.
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