Saudi Arabia Applies to Join BRICS, Further Threatens U.S. Petrodollar

Saudi Arabia, the world’s most prolific exporter of Sunni Islamic terrorism and notoriously disloyal U.S. “ally,” continues its jihad against the struggling U.S. petrodollar.

The petrodollar, which underpins U.S. geopolitical hegemony, is not long for this world. It was dealt another huge, and possibly fatal, blow when BRICS — an acronymized economic alliance of Brazil, Russia, India, China, and South Africa — publicly announced it was mulling admitting Saudi Arabia and Iran into the fold.

Via Middle East Monitor:

The BRICS group of nations is to decide this year on whether to admit new member states into the bloc, as Saudi Arabia and Iran formally seek to join…

Another three meetings will be held within the next three months “in order to reach a consensus on the criteria of recommendations, principles and approaches for BRICS enlargement,” he confirmed. “A corresponding report is expected to be submitted for consideration to BRICS foreign ministers, whose meeting will be held in early June. Major efforts are underway now on the concept for BRICS expansion and criteria for adopting new members.

On its own, this development might not be a cause for panic, although it obviously runs counter to U.S. geopolitical interests. But in the context of other recent events, it signals a political realignment not seen since, perhaps, the U.S. emerged as the undisputed winner of World War II.

In a related development, for instance, via the South China Morning Post, “Saudi Arabia’s decision to join the China-led Shanghai Cooperation Organisation (SCO) as a dialogue partner may help boost Beijing’s influence in the Middle East.”

Saudi Arabia has joined the Shanghai Cooperation Organization (SCO), a #China-led security bloc, as a 'dialogue partner' amid deepening ties between #Riyadh and #Beijing @CNBCMiddleEast @_HadleyGamble @CNBCi pic.twitter.com/CpnUAbK2Iq

— Sam Vadas (@sam_vadas) March 30, 2023

And, last year, on the heels of Russia’s excommunication from the globalized liberal economy, Goldman Sachs issued a dire warning on the future of the U.S. dollar as the world’s reserve currency.

Via Business Insider:

Goldman Sachs has warned the US dollar faces risks that could erode its global dominance, saying it’s dealing with some of the same challenges that the British pound faced in the early 1900s.

The move by the US and its allies to freeze Russia’s central bank out of much of its foreign currency reserves has raised concerns that countries could start moving away from using the dollar, due to worries about the power the currency grants the US.

China has been quietly making serious inroads, mostly in the form of economic cooperation but also through strengthened military alliances in the Middle East, Africa, and even in America’s backyard, Latin America. Its explicit aspiration is to supplant the U.S. as the world hegemon, and its project is going swimmingly, by all appearances.