A Russian official has admitted that BRICS is working to create its own currency to challenge the dominance of the United States dollar and potentially replace its hegemonic position in international trade.
BRICS, an international economic alliance of Brazil, Russia, India, China and South Africa, has received a boost in support of its de-dollarization efforts following the outbreak of the Russian special military operation in Ukraine. Moscow found itself reeling under an avalanche of Western-backed sanctions and restrictions against its ability to freely conduct trade in the global market. (Related: Potential BRICS expansion could mark end of dollar as world’s pre-eminent currency.)
Against this backdrop, Russia has taken the lead in strengthening ties between BRICS nations and laying the groundwork for the creation of a common currency to prevent Western economic warfare from affecting them.
During the two-day St. Petersburg International Economic Forum in India, State Duma (parliament) Deputy Chairman Alexander Babakov called for the creation of a joint Indian-Russian common currency to form stronger financial relations between the two nations.
“Our goal should be focused on writing new rules in the financial sphere in order to enable the use of an already common currency,” said Babakov. “It doesn’t matter whether it’s a digital ruble, a digital rupee, a digital yuan or some other currency. But this currency must follow the laws of our respective nations.”
Babakov noted that this proposed new currency should be backed by gold or other precious metals. He pointed out that the American dollar does not benefit the shared objectives of India and Russia, and their reliance on the greenback continues to give the U.S. an unfair amount of leverage over both nations.
Effort to create common currency part of ongoing de-dollarization campaign
The U.S. dollar has been called the “king of currency” due to it becoming the official reserve currency of the world in 1944, a decision made by a delegation from 44 Allied countries called the Bretton Woods Agreement.
Since then, the dollar has enjoyed a powerful status in the world as the most pre-eminent currency in use today, a status that has greatly benefited American elites and has caused a lot of pain to the U.S.’s foes around the world due to the disproportionate amount of influence the dollar has given the U.S. over other economies.
This influence has allowed America to use sanctions and other tools of economic warfare as a means for achieving its foreign policy objectives.
But in recent years, America’s main foreign adversaries, including Russia and China, have been calling for an end to the dollar’s hegemony. This process, known as de-dollarization, is the process of substituting the U.S. dollar as the currency used for international trade.
De-dollarization’s main proponents highlight how reducing other countries’ dependence on the dollar and the American economy would help mitigate the impact of economic and political changes in the U.S. on their own economies. De-dollarization also reduces the exposure of nations to fluctuations in the dollar’s value and to interest rate changes, which can help improve global economic stability and reduce the risk of financial crises impacting more nations.
De-dollarization moves have been gaining speed in the last few years, especially in 2022, when a paper by the International Monetary Fund (IMF) noted that the dollar’s share of global foreign-exchange reserves fell below 59 percent in the fourth quarter of 2022, extending its two-decade-long process of declining.
Furthermore, the IMF noted that the dollar’s decline has not been accompanied by an increase in the shares of its Western allies like the British pound sterling, the Japanese yen or the euro, which are “other long-standing reserve currencies.”
“Rather, the shift out of dollars has been in two directions – a quarter into the Chinese renminbi, and three quarters into the currencies of smaller countries that have played a more limited role as reserve currencies.”
Learn more about the emerging threats to the supremacy of the American dollar at DollarDemise.com.
Watch this episode of the “Health Ranger Report” as Mike Adams, the Health Ranger, interviews finance and precious metals expert Andy Schectman about BRICS+ and the new global reserve currency the alliance is developing that will bring about the demise of the dollar system.
This video is from the Health Ranger Report channel on Brighteon.com.
More related stories:
- Former Treasury official: If US dollar loses global reserve currency status, there will be a complete economic IMPLOSION.
- Analysis claims that covering all lost deposits in failed banks will only hasten dollar collapse.
- Biden’s destructive Russia sanctions are destroying decades-long dominance of dollar as world’s reserve currency; collapse will follow.
- India, Sri Lanka moving toward using Indian rupee for international transactions (while ditching the dollar).
- Egypt joins BRICS-owned New Development Bank, expresses interest in becoming full-fledged member of BRICS.
Sources include:
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Two Storms, One Harvest
Every food crisis in living memory has been a one-shock event. The 2008 price spike was a commodity bubble. The 2020 shortages were a logistics failure. The 2022 grain scare was a war on one exporter’s ports. Each time, the system bent, adjusted, and recovered, and each time the experts assured us afterward that global markets are simply too big and too diversified to fail.
What nobody in Washington seems eager to discuss is that 2026 is shaping up to be something the modern food system has never actually faced. Two independent shocks, one climatic and one geopolitical, are converging on the same harvest cycle at the same time. Not sequentially. Simultaneously.
Start with the weather. The Pacific Ocean is currently building toward what forecasters now openly call a record event. NOAA’s Climate Prediction Center puts the odds of at least a strong El Niño near 88 percent, with roughly two in three odds it reaches “very strong” status, the tier reserved for perhaps three or four events in the entire satellite era. Every major global model now projects a median peak in Super El Niño territory, and most of them project it exceeding the 2015-16 event, which until now held the modern record. Sea surface anomalies were already brushing the super threshold in mid-July, months before these events normally peak. The atmosphere has already shifted into El Niño mode, and the event is forecast to crest in late fall and early winter.
This is not about “climate change.” It’s about the standard cycles of weather, and the cycle we’re currently in is one that has likely devastated societies in the past. We’re better prepared as a society today, but not all Americans are equally prepared.
Serious households have started doing the quiet math on their own. Grocery bills tell part of the story, and the forecast maps tell the rest, which is why long-term food storage has moved from fringe hobby to mainstream line item in the family budget, with established suppliers like Heaven’s Harvest seeing demand from people who five years ago would have rolled their eyes at the idea. That instinct is not paranoia. It is pattern recognition, and the pattern is worth walking through carefully.
Editor’s Note: Heaven’s Harvest IS a sponsor, but the warnings of this article are real and would be written even if we didn’t have a survival food sponsor. With that said, those who take advantage of what they offer can use promo code “Patriot” for 15% off.
The Fertilizer Clock Is Already Running
While the Pacific warms, the second shock has been unfolding in the Strait of Hormuz. The conflict with Iran turned the world’s most important energy chokepoint into a contested waterway, and the consequences reach far beyond the gas pump. Roughly a third of global fertilizer trade moves through Hormuz, and the disruption sent urea prices up 86 percent year over year by March, with a 53 percent jump in a single month.
The World Bank projects energy prices rising about 24 percent in 2026 and fertilizer about 31 percent. By its own accounting, fertilizer prices ran 35 percent higher in the first five months of this year than the same period last year.
Here is the mechanism the nightly news will not explain. Fertilizer is not a grocery item. It is a time-delayed input. The nitrogen a farmer in Iowa or Punjab could not afford to apply this spring does not show up as a problem this spring. It shows up as a thinner harvest six to twelve months later.
The World Bank’s own food security brief concedes that the effects of reduced applications earlier this season “are likely to become visible only later in harvest outcomes.” Translate that from institutional language into plain English and it means this. The damage is already done, it is already in the ground, and we are simply waiting for it to arrive on the shelf.
Now check the calendar. Six to twelve months from the spring planting season lands us squarely in late 2026 and early 2027. Which is precisely when the strongest El Niño in the instrumental record is forecast to peak, bringing its signature droughts to Southeast Asia, Australia, southern Africa, northern Brazil, and South Asia, the very regions that grow the world’s rice, sugar, and oilseeds.
The World Bank warns openly that a strong El Niño “could disrupt multiple crop belts simultaneously” on top of the conflict-driven input costs. Their baseline projection assumes the Middle East disruptions ease by autumn. What in the last two years of Middle East history suggests that assumption is safe?
The System Has No Slack Left
The comfortable answer is that global markets always adjust. But adjustment requires slack, and the slack is gone. Global cereal production is expected to decline from last year’s records even before El Niño does its work. The UN World Food Programme, hardly a den of right-wing preppers, is calling this the most significant disruption to its supply chains since Covid and the invasion of Ukraine, and its supply chain director put the stakes bluntly.
Today’s supply chain challenges are tomorrow’s hunger crisis.
There is also a political dimension that markets cannot price. When food gets scarce, governments do not behave like economists. They behave like politicians. Export bans, hoarding mandates, and panic buying at the national level turned the modest rice shortfall of 2008 into a global crisis, and analysts are already warning that import-dependent nations are the first dominoes.
The 2015-16 Super El Niño, a far weaker event than what is now forecast, threw tens of millions into food stress across Africa and Asia. This one is projected to be stronger, and it arrives with fertilizer already rationed by price and shipping lanes already contested by missiles.
What Joseph Knew
Scripture does not treat preparation for lean years as faithlessness. It treats it as wisdom delivered in advance to those willing to act on it.
Behold, there come seven years of great plenty throughout all the land of Egypt: And there shall arise after them seven years of famine; and all the plenty shall be forgotten in the land of Egypt.
Joseph did not respond to that warning with a hashtag or a committee. He stored grain during the years of abundance, and when the famine came, Egypt stood while its neighbors begged. The lesson is not that famine is certain. It is that the time to prepare is precisely when preparation still looks optional.
Nobody who filled a pantry in a year of plenty has ever regretted it, and nobody standing in an empty aisle has ever been glad he waited for certainty.
None of this calls for panic, and panic is the enemy of sound judgment anyway. It calls for the same unglamorous prudence our grandparents considered ordinary. Keep some cash margin, know your local growers, and put real food in deep storage while it is cheap and available, because the entire arc of this story is that cheap and available is a closing window.
Families looking for a straightforward place to start can visit Heaven’s Harvest and use promo code Patriot for 15 percent off long-term storable food. The forecasts may yet soften, the strait may yet reopen, and we should pray they do. But hope is a fine thing to hold and a foolish thing to eat.