FedEx Founder Warns of BRIC Nations’ Plotting
FedEx Founder Warns BRIC Nations Aim to Dethrone US Dollar, Threatening American Standard of Living
In a recent interview, FedEx Founder and Executive Chairman Fred Smith issued a stark warning about the intentions of the BRIC nations — Brazil, Russia, India, and China. According to Smith, these countries are actively working to overthrow the US dollar as the world’s reserve currency. If successful, this could have dire consequences for the standard of living that Americans have grown accustomed to.
Smith’s warning came in the midst of a discussion about the latest inflation report, which revealed that inflation has exceeded projections and prices have risen by 17.9% overall since President Biden took office.
During the interview, Smith emphasized the broader implications beyond the Consumer Price Index (CPI) announcement. He highlighted three key factors that have contributed to America’s wealth and prosperity: technological innovations since World War II, leading in trade market openings protected by the American Military and alliances, and the US dollar’s status as the world’s reserve currency.
However, Smith expressed concern over recent developments that have undermined these pillars of American prosperity. He pointed to the trade wars initiated in 2018 between President Xi and President Trump, as well as the significant increase in government borrowing, reaching nearly $2 trillion last year. The Congressional Budget Office (CBO) also revealed that the US will spend more on interest payments this year than on the Defense Department. Smith found it alarming that these critical issues are not being adequately addressed in current political discourse.
Smith recently delivered a speech urging political leaders to recognize the unprecedented dangers facing the US and emphasized the need for a grand compromise to address these challenges. However, when asked if he saw leaders stepping up to address the crisis, Smith responded negatively, stating that the political process is currently dominated by extreme positions from both parties.
Smith stressed the importance of trade, which has been instrumental in America’s greatness since the 1930s. He highlighted the role of trade in restoring prosperity to former enemies Germany and Japan through the American Alliance system. Additionally, he emphasized that the US’s ability to print money at will is contingent on the dollar remaining the world’s reserve currency. However, the BRICS alliance, consisting of Brazil, Russia, India, and China, is actively working to dethrone the dollar. Smith warned that if they succeed and the US is unable to sell its bonds, the current living standards enjoyed by Americans will become a thing of the past.
Watch the interview below:
WATCH: FedEx founder Fred Smith to @BretBaier: “The so-called BRICs alliance—Brazil, Russia, India & China—have set out on a deliberate course to dethrone the dollar. If that happens and we can’t sell our bonds, I can assure you the living standards that we all enjoy today are… pic.twitter.com/fclTIKHw3A
— Steve Guest (@SteveGuest) February 14, 2024
CLICK HERE TO GET THE DAILYWIRE+ APP
How would the creation of alternative financial systems and currencies by the BRIC nations impact the global economy and threaten America’s economic stability?
Angers that America faces if the US dollar loses its status as the world’s reserve currency. He stressed that this is not an issue that can be ignored or taken lightly, as it has profound implications for the American standard of living.
The BRIC nations, specifically Brazil, Russia, India, and China, have been making concerted efforts to challenge the dominance of the US dollar. Smith noted that these countries are actively working towards creating alternative financial systems and currencies that would reduce their reliance on the US dollar. Should they succeed, it would not only disrupt the global economy but also threaten America’s economic stability.
Smith highlighted the importance of the US dollar’s current status as the world’s reserve currency. This status provides the US with tremendous advantages, including the ability to borrow at low-interest rates and maintain its economic influence globally. Losing this status would strip America of these advantages and potentially lead to devastating consequences.
The threat to the US dollar’s dominance is exacerbated by the rising inflation in the country. Since President Biden took office, inflation has exceeded projections, and prices have risen significantly. Smith warned that if these inflationary pressures continue unabated, it would further weaken the US dollar’s position and make it vulnerable to challenges from the BRIC nations.
Furthermore, Smith criticized the lack of attention these issues have received in the current political discourse. He expressed his concern over the trade wars initiated by former President Trump and the significant increase in government borrowing, which has reached nearly $2 trillion. These issues, he believes, are critical to America’s economic stability and should be addressed urgently.
Smith’s warning should serve as a wake-up call for both political leaders and the American public. The potential consequences of losing the US dollar’s dominance are severe, and action needs to be taken to protect America’s economic interests. It is crucial that policymakers recognize the seriousness of this threat and work towards strengthening the US dollar’s position in the global economy.
The future of the American standard of living depends on the ability to mitigate these risks and preserve the advantages that the US dollar brings. It is not a scenario that can be ignored or underestimated. The BRIC nations have made their intentions clear, and it is up to America to respond effectively.
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases
Now loading...