In oil trade decades are quietly happening
NOTE: The YT channel does not appear to be any flavor of Marxist, but has a very grounded materialist outlook on things.
I’m sorry to say this but this is the same guy who last time also said that China is trying to build its own banking system with all the US dollars it has accumulated, seemingly not understanding that all US dollars exist within the US banking system (with the exception of banknotes i.e. paper notes you carry in your wallet and the strange case of Eurodollar).
And why is the price of oil falling? It’s because the Biden/Harris administration is getting what they wanted for the oil price just before the November election! The price will go up again after the election in 2025. The information about a parallel economy with oil trade among BRICS countries is also wrong. Oil is priced in US dollars - until they have established their own index for pricing oil that is independent of the US dollar, nothing will change. What’s more, Saudi Arabia just joined BRICS+ last year, and as a dollar-neutral country, it can only dollarize BRICS rather than de-dollarize the bloc. So, without alternative systems in place, nothing fundamental is changing.
These people are seriously out of their depths when it comes to understanding how the global economy works, especially from the perspective of US imperialism.
Be very careful of these kind of “multipolar grifter” channels that really have cropped up after the Ukraine war in 2022. This particular channel promotes gold and crypto, so you know where the incentives lie.
Iraq made a deal in 2000 to sell oil in Euros.
Qaddafi was working on a plan to create a gold backed African currency for oil trade.
Looks like we know how WW3 is starting.
The USA never invades a country that can actually fight back, I think we are OK,
The USA never successfully invades a country that can actually fight back, I think we are OK.
It still tried with Vietnam, Cuba, Korea, each fought back and won (mostly).
I guess I should have said “fight back by hitting the USA itself”. But yes, the global bully has invaded countries that have resisted successfully.
Dogs won’t fight bigger things unless backed into a corner either.
The US is in collapse, and the ways it’ll lash out will be unpredictable
I found a YouTube link in your post. Here are links to the same video on alternative frontends that protect your privacy:
