@@d-munn you are right about the need for action but Where do you see BRICS as fair and equitable? Proof??? A group of hurting and neglected but with« great growth indicators » are trying to unite others and destroy another economical entity. If all G7 countries decided to join BRICS, would it happen? would it not open discussions on how to proceed from there? Could the BRICKS demonstrate that change is urgently needed, not petty wars ,be they political, military, economical,etc.? Opposition is not conducive to cooperation… denial that we are collectively heading towards extinction is STUPID and mostly what ALL leaders and governments and interests groups are doing. But We Are starting to See You! Our individual should all be to search, prove, show and tell with sincerity,clarity,and very very much humility. No one has the answers, beware of false prophets…they do run in political circles nowadays. Lol!
Africa has to act, take control of self destiny, help one another, bring investment from china n india, technology from Russia n Brazil n Iran, get the kids educated , build industries & export finished products. No more sending raw materials & crops. Only value added products should flow out from Africa.
80% world population live outside the American led countries such as G7, S Korea and EU . The joys from the 80% world population are real to witness multi power sharing world's powers, resources, dedications and talents . The young people today will THANK this major GEOPOLITICAL change .
Try telling that to your friends and see what their responses will be 😂😂😂they are so brainwashed and ignorant to know that is happening in the world 😂😂
@thepro well, trust me if you're in the west you wouldn't have that many friends if you said that. Plus we're not going to allow it. Everyone knows what would happen phet489
I’m learning a lot off your channel. I feel like the United States has it coming. In all honesty, I’m not crying for it. Keep on rocking in the free world!
Thankyou Professor. The change is for a better world for everyone. God bless all the leaders of BRICS as they strive to build a much better environment for all to do business, develope and coexist peacefully!!
@@mateusnicolinibezerra9757 You need to go binge watch Upstairs Downstairs, or Donton Abbey episodes to listen to the lamentations of the Aristocrats who prey on their Servants as the Empire preys on the Planet? The end of Empire is so similar as the cost of keeping the Colonies in line grows. The system of enabling profits to be discovered from Colonial Empires, does need a massive military expense budget to maintain the flow of resources to keep up appearances. As the cost to present some spear holding Thug becomes more expensive every year they are deployed, the display of professional Thugs becomes more common and the Mercenary Crowd grows. If the Romans were unable to obtain Tribute payments from their Colonies they seemed to stab their Colonial Subjects with a Spear. The British used Gunboat Diplomacy and the USA adopted that philosophy. Military threats do rank right near the top of expense accounts of all Colonial Empires. The ability to fund a Military Threat, cost the USA so much by 1967, that the Currency was changed to accommodate the ability to borrow more than can be repaid. Now the USA notices a $35 trillion debt is becoming more than they can afford to pay to accommodate the Constitutionally Mandated demand that they pay all debts. Another Empire bites the Dust.
The sheer fact that BRICS exists, outside of and impervious to empire's influence, is remarkable. Empire's failures to destabilise and undermine individual BRICS countries exposes its weakness.
One point you didn't state is that it's not just the GDP of Brics countries has overtaken G7 output but look at the population of the Brics nations! They have been treated unfairly and suffering under very absymal GDP per CAPITA , in the west created world order creating first class & second class citizens of the world, based on where you are born! Poverty is a CREATION of humanity!!!
USA can't cut that budget off Hundreds of military bases outside and they're showing power around the world and if you stop investing in the military others will catch up soon that will change the power dynamics too . Sorry for my bad English
Good question, so I did a google search and results are: According to recent data, the military-industrial complex, or defense spending, currently accounts for roughly 3% of the U.S. GDP. Key points: Current percentage: Around 3% of GDP. Source: Data from Statista and the Congressional Budget Office. Trend: Projections indicate a slight decrease in defense spending as a percentage of GDP in the coming years.
Let's devise an aid package to BRICS to help repair/replace our crumbling infrastructure, implement a universal single payer healthcare delivery system, and then for economic regime change to that of an economic democracy. There ain't nobody to save us...we must save ourselves
The UK is now in G27 at best. They started their own economic cooperation community. BRITS. We wish them prosperity, better food and a little sunshine where possible 😁
Wow, so quick the return to the 1450’s has been. When my history professor at the Big U predicted it in the early 1970’s, I had no idea I would actually witness it! Thanks!
As a language detective-cum- textbook author, I must admit that I come to your videos for two main reasons: your beautiful linguistic phraseology and your usually nonedited authentic accounts. Thnx Prof and eagerly awaiting more of your colourfully linguistic and historically authentic presentations!
Center of BRICS is Various Commodities, Various Cultures, Various Currencies, and Diverse people, but, G7 is centralized by only one factor - and that is $ and now $ is shaky and will be just a paper.
The press pretends not to understand something simple that already happens all over the world. When a tourist travels, he can use dollars, euros, gold, diamonds, etc. and the LOCAL currency of the country he is visiting to pay his expenses. This is what the BRICS countries will do with business, and in fact, they are already doing. If a company from Turkey, for example, buys Brazilian airplanes, the contract will be signed for payment in Brazilian or Turkish currency, and the parties will decide which currency they prefer. No one is stupid enough to say: "I don't accept dollars, I don't accept euros, I don't accept gold, etc." There is no "one" currency to replace anything. There will be many currencies, more than 100. To guarantee against devaluation, all you need to do is use insurance that ALREADY EXISTS and the BRICS BANK can act as guarantor. As you can see, it's simple.
Thank you very much Professor for your analysis. You put allot fact and mind to your audience about BRICS and its features. It is history that we life in it.
What is happening at the BRICS summit, namely to make the world fairer and safer, could have been done by the west after the disintegration of the USSR, but the west missed this chance because of their belief that they are first class people compared to the rest of the world.
This should be front page news throughout the United States. And every American eight-grader should be writing an essay about it. But we don't live in that kind of country.
The US should simply stop being childish, unlike Germany of the 1930s, and extend the offer for a global model based on that of the European Union. The writing is on the wall, and Americans must decide on the question of being a good German.
You're one of the few characters I've had the pleasure of discovering. You speak the views I've embraced since my earliest childhood memory! I told my democratic parents at age eight, that behind closed doors, politicians are all the same! Since, not unlike The Wizard of Oz, they too are controlled by veiled powers/wealth!
Growth is establish thru production.Production depends on workers who get very limited part of the fruits of their labor. And most states act has any and all capitalists
Richness or economy and trade started in Asia be it Chinese civilization or Indian Civilization. Romans saw India as the end of the world and wrote their half of the gold goes to India, China Silk route, later Muslims invasions on Indian subcontinent for money, then Europeans trying to establish new routes to India and reached America. Then brits colonised Indian subcontinent. These last few hundred years when West got rich and developed so much and advanced in technology otherwise it was always Asia mainly China and India who were the biggest powers and financial powerhouse of the world. Half of the world economy was held by these two countries. So it is all going back to how it was used to before west colonised the world
As long as the dollar is the world reserve currency, the USA can pay for whatever it wants or needs. BUT we have to stop threatening our providers for improving the quality of their products.
Yes and have you studied what happened the last 12 times out of the 16 times this has happened. See that's the thing you people don't want that truth. You want to ignore that but guess what? That's what you're going to get for this. It's a price that has to be paid. To take this. You have to pay this price@@theprophet489
I apologize for my lack of faith in Capital as a measure of Value, before I comment. The USA and the G-7 Nations constructed their lovely lifestyles, with Colonial Exploitation. BRICS Nations all have been Colonies at some time or another of some other Empires. True the USA was a Colony of the Brits, Russia was forced to deal with the Golden Horde. The United Nations General Assembly has condemned Colonial Exploitation. The USA has exploited the Spanish Empire Nations since the Hostile Takeover of 1898. Bad Karma, or bad Juju, the USA is now forced to deal with the BRICS Wall. They have assembled the former Colonies, into a Trade Union. Collective bargaining seems to be available to the Group? The Nations that have attended Previous Meetings, have developed trade relationships with other nations they may not have been exposed to before. The Nations who are in attendance own around 75% of available resources by my estimate. That amount of resources does seem significant? I believe those Nations will now gain more respect.
Why do you people keep saying this stuff? That's not true as if the US is going to have to do this or that no they're not they really aren't. You're going to see what they're going to do real soon.
@@TacticalMayo huh? You want to re-write what you wrote? It is unintelligible what your message is. 1. What stuff? 2. What are they 'going to do or not' 3. What exactly are we going to see?
@@nolitetebastardescarborund9761 ooooooooh, lmaooo. Oh boy, some people actually drink the 'koolaid'. Sad and hilarious, and these people put others in office.
The question arises as to how the G7 countries keep appreciating their respective non gold backed currencies despite relatively low gdp output and worst population demography? What would happen to the g 7 if gdp is calculated in PPP? What would happen to g7 economy if the rest of the world do their globaltrade bypassing the g 7 countries currencies? Unfortunately the g7 economics keep printing their valueless paper currencies and dumping them into the rest of the world to make their respective currencies weaker in the name of inflation, in exchange for goods and services. What is more, the west sell their debts amongst themselves and other countries to create artificial demand for their currencies and products. How long can they succeed in this new technology? ❤
Doing business in your own currencies makes your economy strong: Russia is now the fourth largest economy in the world: Nigeria please continue doing business in your own currencies!!!
Oh it's guaranteed to happen. You should have never done this. This is something that guarantees it. We will absolutely make sure of it with every last fiber of our being.
They gave a false GDP figure by causing a rise in the price of food, housing and transport and then fiddling inflation figures. So a house that had costed 10000dollars to build is now 500000dollars. The olives that gave you 5 litres of olive oil last year for 20 dollars became 5l for 60 dollars from the same 100 year old tree. Gosh! Aren't we suckers.
The IMF publish brut GDP, the World's Bank publish the more realistic GDP PPP (Power Purchasing Parity) which gives a better understanding of how the World's economy is changing.
he doesn't say that the brics is a economic bloc due to the euro dollar, namely the USA and Europe. I suppose the question should be what would happen if the USA and Europe stopped creating all those currency units.
India is playing its cards well. Despite being a member of Brics, it still continues to maintain reasonable relationships with the West, without sacrificing its independence. South Africa should take note and not continue to allow itself to be a a doormat for Russia. China and now, Iran too.
I was expecting an update on the brics summit in Kazan, he seems to be talking about the same thing in every presentation. What about the brics declaration?
So what. Why do you panic. Let people do what they do. That’s what the USA has always done. So mind you business and don’t nudge others better than you. Nobody cares what you are panic about
@@kevinschmidt2210no he's panicking because he wants the US not to do what he knows. We are going to do over this. He wants us to just accept and everyone knows it's not an option so MAD is going in the garbage.
Dear Professor, you have previously spoken of the decline of the capitalist system and the decline of the influence the G7 will have in the world in the future. You have also spoken about the differences between capitalism and socialism. What I’d like to know is, what difference will the world current capitalism driven problems be, by changing the players. Will there be different ways to make deals for capital for infrastructure development. Will there be different voting blocks in institutions like the UN, will the UN get more teeth and will BRICS get rid of the Vito power used so effectively by American and Russia. We human are sick to the back teeth of being manipulated by the powerful. When will we get the chance to live a fair life. Will a socialist society be established once BRICS’s influence really kicks in.
In terms of trends for the future, the changes year to year GDP growth definitely tell a story of a seismic shift. But in terms annual GDP dollar totals by nation, the G7 is still the dominant bloc - for now. The US by itself has as much GDP as China, India ,Russia, and Brazil combined. So, there is that. The US / NATO is also making disturbing noises about prospects for a new proxy war / conflict over Taiwan within the next couple years. I guess that’s how they are going to respond to the threat of losing global dominance. Although it doesn’t seem like they had the sort of success they hoped for with their proxy war against Russia. Their mobilized war economy seems to be have made Russia emerge stronger.- not weaker. The US may soon have face the unsettling fact that they no longer can dominate as it once did.
Assuming they decide to create a new currency and use some sort of gold standard. The gold for the vaults will have to come from somewhere. Wall Street appears to already be betting that a substantial amount will come from the gold exchanges over some period of time and as usual are trying to steal a share by pushing prices up now. So much for market efficiency. The BRICS players probably have enough among themselves to cover it without paying a premium to Wall Street. The choice is theirs. Either way higher gold prices will be inflationary. The price of manufactured goods that are made with gold will go up. Inflationary but not inflation. Everything with a mother board is going to go up. Is our economy so fragile that we should be bracing for another inflation event shortly? Higher interest rates? etc.
BRICS have made a stronger house than G7 sticks and straw.
😂😂😂😂 exactly
The big good wolf is going to huff and puff soon.
@@taramaclaird9633 yes, but still only a just as empty of a house.
Only for tankies
@@marcrleblanc18Packed full with 29+ countries. What are you saying? Jealousy or envy?😅😅😅😅
This is no time to bury one's head in the sand. A new fair & equitable world emerging, from a state of denial.
@@d-munn you are right about the need for action but Where do you see BRICS as fair and equitable? Proof??? A group of hurting and neglected but with« great growth indicators » are trying to unite others and destroy another economical entity. If all G7 countries decided to join BRICS, would it happen? would it not open discussions on how to proceed from there? Could the BRICKS demonstrate that change is urgently needed, not petty wars ,be they political, military, economical,etc.? Opposition is not conducive to cooperation… denial that we are collectively heading towards extinction is STUPID and mostly what ALL leaders and governments and interests groups are doing. But We Are starting to See You! Our individual should all be to search, prove, show and tell with sincerity,clarity,and very very much humility. No one has the answers, beware of false prophets…they do run in political circles nowadays. Lol!
Who told you that lie?
@@marcrleblanc18 *economic. Economical means something else.
@@nolitetebastardescarborund9761 pardon my French: « entité économique »
@@nolitetebastardescarborund9761 ment financial entity
Thank you Professors Wolff. I love watching your videos. No B.S, just straight facts. It’s so refreshing to hear the truth.
@@BigJoe786 ❤️🇵🇸✊.
A Marxist and truth... not very well acquainted those two historically. But it sells to those who want to believe.
It’s about time and way long overdue. This is a major plus for African nations and their sovereignty.
Nothing's going to change
Africa has to act, take control of self destiny, help one another, bring investment from china n india, technology from Russia n Brazil n Iran, get the kids educated , build industries & export finished products. No more sending raw materials & crops.
Only value added products should flow out from Africa.
Nuh uh sorry Africa but we Westerners are not letting you free *pulls tighter on the leash* uwu
@@RakibAhmed66I hear you, from your mouth to God's ear, hallelujah.
@TacticalMayo nothing is going to change, because???? That's what you think not what you know????
80% world population live outside the American led countries such as G7, S Korea and EU . The joys from the 80% world population are real to witness multi power sharing world's powers, resources, dedications and talents . The young people today will THANK this major GEOPOLITICAL change .
Love Professor Richard Wolff, he's def up there with a Prof Sachs and Prof Mearsheimer! Keep preaching truth!
Try telling that to your friends and see what their responses will be 😂😂😂they are so brainwashed and ignorant to know that is happening in the world 😂😂
Cannot put Mearsh in the same camp as pro.Wolff & Sachs, Mearsh has a different mindset from westpoint, a colonial mindset that is
@thepro well, trust me if you're in the west you wouldn't have that many friends if you said that. Plus we're not going to allow it. Everyone knows what would happen phet489
Russian paid Propaganda Nonsens 😊
@maronily nonsense*
Love this analysis of reality.
Especially when you have idiots like Trump and Musk thinking they are the economic elite.
I’m learning a lot off your channel. I feel like the United States has it coming. In all honesty, I’m not crying for it. Keep on rocking in the free world!
It's OOOOOOVER! Love that! 😊
For everybody I mean everybody
“it is not what we dont know that gets us into trouble, it’s what we know for sure that just aint so” M Twain
THAT WAS BRUTAL, FACTS DONT LIE.
THANKS FOR THE INFO SIR.
Thankyou Professor. The change is for a better world for everyone. God bless all the leaders of BRICS as they strive to build a much better environment for all to do business, develope and coexist peacefully!!
The ever compassionate Lord blessed n guide BRICS to nurture your kingdom n protect it from the WAR mongering West. Amen
I just took a look at the New York Times website. There is no mention of BRICS whatsoever on the main page.
Thus, just another reasons why their circulation is in the tank.
The empire of sour grapes
Keep them brainwashed keep the truth hidden from the 99%😂😂
Sour grapes
Why would you want that? It's your adversary what I mean. This makes no sense
The times they are a-changing.... 🎙🎶🎵
But not for the better! 🤔
@@theseustoodipende da che parte stai.
@@pierluigicortesi1959we're westerners this is a western social media platform. Trust me we will make sure that it's not.
Great analysis
Yes indeed the times they are a changing
There is a new Sheriff in town
LIKE ANY EMPIRE ITS OOOVER !
FANTASTIC AS ALWAYS 🙏4Shairing.
Not simply an Empire, but a social system called Capitalism.
The system has created more debt than Capital.
They have exceeded the limitations.
If half of the world needs to unite to even try to challenge 5% of it I’m quite sure the empire is doing fine 😉
@mateusnicolinibezerra9757 nothing and i mean, nothing last forever.
@@BellaDavids-o1w 🎯🥂.❤️🇵🇸✊
@@mateusnicolinibezerra9757 You need to go binge watch Upstairs Downstairs, or Donton Abbey episodes to listen to the lamentations of the Aristocrats who prey on their Servants as the Empire preys on the Planet?
The end of Empire is so similar as the cost of keeping the Colonies in line grows.
The system of enabling profits to be discovered from Colonial Empires, does need a massive military expense budget to maintain the flow of resources to keep up appearances.
As the cost to present some spear holding Thug becomes more expensive every year they are deployed, the display of professional Thugs becomes more common and the Mercenary Crowd grows.
If the Romans were unable to obtain Tribute payments from their Colonies they seemed to stab their Colonial Subjects with a Spear. The British used Gunboat Diplomacy and the USA adopted that philosophy.
Military threats do rank right near the top of expense accounts of all Colonial Empires.
The ability to fund a Military Threat, cost the USA so much by 1967, that the Currency was changed to accommodate the ability to borrow more than can be repaid.
Now the USA notices a $35 trillion debt is becoming more than they can afford to pay to accommodate the Constitutionally Mandated demand that they pay all debts.
Another Empire bites the Dust.
The sheer fact that BRICS exists, outside of and impervious to empire's influence, is remarkable.
Empire's failures to destabilise and undermine individual BRICS countries exposes its weakness.
Kudos to the BRICS founding fathers ❤ 🎉 to the new beginning 👏 🙌 💪cheers 🥂
Beginning of the end
One point you didn't state is that it's not just the GDP of Brics countries has overtaken G7 output but look at the population of the Brics nations! They have been treated unfairly and suffering under very absymal GDP per CAPITA , in the west created world order creating first class & second class citizens of the world, based on where you are born! Poverty is a CREATION of humanity!!!
The world is changing for the better
Realistic description Sir, namaste🙏
No, it's not because everyone's acting like the US will just accept and trust me we won't.
The US has thrown EU under the bus
i wonder how the GDPs would compare if Military related Industries were removed from the calculations.
USA can't cut that budget off
Hundreds of military bases outside and they're showing power around the world and if you stop investing in the military others will catch up soon that will change the power dynamics too .
Sorry for my bad English
Good question, so I did a google search and results are:
According to recent data, the military-industrial complex, or defense spending, currently accounts for roughly 3% of the U.S. GDP.
Key points:
Current percentage: Around 3% of GDP.
Source: Data from Statista and the Congressional Budget Office.
Trend: Projections indicate a slight decrease in defense spending as a percentage of GDP in the coming years.
Is money printing by Fed consider part of GDP
@@wilfredwilfred-uj5wf It's not. In general, GDP is calculated based on the goods manufactured and services rendered.
or debt. They use "debt" as economic activity hahahahaha.
Let's devise an aid package to BRICS to help repair/replace our crumbling infrastructure, implement a universal single payer healthcare delivery system, and then for economic regime change to that of an economic democracy. There ain't nobody to save us...we must save ourselves
Actually what we're going to do is start getting ready for the wolfowitz doctrine.
The UK is now in G27 at best. They started their own economic cooperation community. BRITS. We wish them prosperity, better food and a little sunshine where possible 😁
Very little Sunshine - but almost endless manipulated rain.
UK isn't responsible for your problems in the EU. 😂
Was waiting for this. Thanks!
Wow, so quick the return to the 1450’s has been. When my history professor at the Big U predicted it in the early 1970’s, I had no idea I would actually witness it!
Thanks!
Welcoming forward to the New World 👏🏼👏🏼👏🏼👏🏼👏🏼🇨🇳👏🏼🇨🇳. Saluting the BRICS Alliance 👏🏼👏🏼👏🏼👏🏼
This is where you get the real news.
As a language detective-cum- textbook author, I must admit that I come to your videos for two main reasons: your beautiful linguistic phraseology and your usually nonedited authentic accounts. Thnx Prof and eagerly awaiting more of your colourfully linguistic and historically authentic presentations!
More BRICS in the wall.
And another one that'll be knocked down
Center of BRICS is Various Commodities, Various Cultures, Various Currencies, and Diverse people, but, G7 is centralized by only one factor - and that is $ and now $ is shaky and will be just a paper.
White supremacy capitalism and colonialism imperialism slave masters 😂😂😂
Just wait few more years ..A great YOGI in Himalayas told me ..A MASSIVE MASSIVE WAR IS COMING ... economic collapse of nations is coming .
Thank you professor
The press pretends not to understand something simple that already happens all over the world. When a tourist travels, he can use dollars, euros, gold, diamonds, etc. and the LOCAL currency of the country he is visiting to pay his expenses. This is what the BRICS countries will do with business, and in fact, they are already doing. If a company from Turkey, for example, buys Brazilian airplanes, the contract will be signed for payment in Brazilian or Turkish currency, and the parties will decide which currency they prefer. No one is stupid enough to say: "I don't accept dollars, I don't accept euros, I don't accept gold, etc." There is no "one" currency to replace anything. There will be many currencies, more than 100. To guarantee against devaluation, all you need to do is use insurance that ALREADY EXISTS and the BRICS BANK can act as guarantor. As you can see, it's simple.
Thank you very much Professor for your analysis. You put allot fact and mind to your audience about BRICS and its features. It is history that we life in it.
Just a bunch of nonsense from an old trader
Thanks!
Excellent, as always, Professor Wolff.
Dr MohanZ. Mani .India.
The Kazan conference is a reflection of the Yalta conference, deciding on the new world.
They're not the ones to decide what will be.
@@TacticalMayo Yeah, Rambo. Gotta be kidding.
A powerful podcast episode. You are right on point.
The fun fact: US debt is 37 trillion USD. 37 trillion. How are they going to solve this when the access to the Ukrainian treasures is denied.
Armageddon
Plus 200+ of unfunded liabilities
Thanks a million for making this message short and to the point 🤝‼️
After stopping the wars!
Wait a minute. I hope you realize the biggest and last one is coming. Oh no doing this guarantees you get the the mother of all of them.
Sir Richard wolff your analysis so nice you speeks a tru God bless you i appriciat you kept up ❤❤❤ ,, i am from islamabad pakistan ,,,
What is happening at the BRICS summit, namely to make the world fairer and safer, could have been done by the west after the disintegration of the USSR, but the west missed this chance because of their belief that they are first class people compared to the rest of the world.
THank You
This should be front page news throughout the United States. And every American eight-grader should be writing an essay about it. But we don't live in that kind of country.
Absolutely. So unfortunate that you live in such a dysfunctional USA.
The US should simply stop being childish, unlike Germany of the 1930s, and extend the offer for a global model based on that of the European Union. The writing is on the wall, and Americans must decide on the question of being a good German.
Let's build a better world with BRICS
You're one of the few characters I've had the pleasure of discovering.
You speak the views I've embraced since my earliest childhood memory!
I told my democratic parents at age eight, that behind closed doors, politicians are all the same!
Since, not unlike The Wizard of Oz, they too are controlled by veiled powers/wealth!
BRICS+ save the world.
Thanks for your appreciation of India
Great insight ❤
Blessed Be BRICS! Welcomed Be USA and UK! Love is our only future.
Thanks to the mother Bear for standing against the collective criminal west and their foreign policy.
I “ try “ to talk about THIS stuff , the IMPORTANCE of physical gold & silver - I’m called a
“ boomer/doomsdayer “
Great content , thank you sir !
yeah!!!!!!!!!!
Growth is establish thru production.Production depends on workers who get very limited part of the fruits of their labor. And most states act has any and all capitalists
Thanks
This is good news for the future of all nations!! At last the American empire has a challenger!!! NZ.
That's what you think it is? 🤣🤣🤣
Richness or economy and trade started in Asia be it Chinese civilization or Indian Civilization. Romans saw India as the end of the world and wrote their half of the gold goes to India, China Silk route, later Muslims invasions on Indian subcontinent for money, then Europeans trying to establish new routes to India and reached America. Then brits colonised Indian subcontinent. These last few hundred years when West got rich and developed so much and advanced in technology otherwise it was always Asia mainly China and India who were the biggest powers and financial powerhouse of the world. Half of the world economy was held by these two countries. So it is all going back to how it was used to before west colonised the world
Great video 📹 sir ❤
As long as the dollar is the world reserve currency, the USA can pay for whatever it wants or needs. BUT we have to stop threatening our providers for improving the quality of their products.
Have you studied the history of the world and all past empires 😂😂
Yes and have you studied what happened the last 12 times out of the 16 times this has happened. See that's the thing you people don't want that truth. You want to ignore that but guess what? That's what you're going to get for this. It's a price that has to be paid. To take this. You have to pay this price@@theprophet489
The USD has been how the USA has been looting the rest of the globe of their wealth. That has to end.
If you care about the future of your kids, praise for BRICS
I apologize for my lack of faith in Capital as a measure of Value, before I comment.
The USA and the G-7 Nations constructed their lovely lifestyles, with Colonial Exploitation.
BRICS Nations all have been Colonies at some time or another of some other Empires.
True the USA was a Colony of the Brits, Russia was forced to deal with the Golden Horde.
The United Nations General Assembly has condemned Colonial Exploitation.
The USA has exploited the Spanish Empire Nations since the Hostile Takeover of 1898.
Bad Karma, or bad Juju, the USA is now forced to deal with the BRICS Wall.
They have assembled the former Colonies, into a Trade Union.
Collective bargaining seems to be available to the Group?
The Nations that have attended Previous Meetings,
have developed trade relationships
with other nations they may not have been exposed to before.
The Nations who are in attendance own around 75% of available resources by my estimate.
That amount of resources does seem significant?
I believe those Nations will now gain more respect.
YOu get it. I have been saying this for a long time. Alot of my comments 'disappear', too.
Why do you people keep saying this stuff? That's not true as if the US is going to have to do this or that no they're not they really aren't. You're going to see what they're going to do real soon.
@@TacticalMayo huh? You want to re-write what you wrote? It is unintelligible what your message is.
1. What stuff?
2. What are they 'going to do or not'
3. What exactly are we going to see?
@@allanluis3696 He thinks he’s Rambo
@@nolitetebastardescarborund9761 ooooooooh, lmaooo. Oh boy, some people actually drink the 'koolaid'. Sad and hilarious, and these people put others in office.
❤ u young man
Brics should exist 30 year ago😊
The question arises as to how the G7 countries keep appreciating their respective non gold backed currencies despite relatively low gdp output and worst population demography?
What would happen to the g 7 if gdp is calculated in PPP?
What would happen to g7 economy if the rest of the world do their globaltrade bypassing the g 7 countries currencies?
Unfortunately the g7 economics keep printing their valueless paper currencies and dumping them into the rest of the world to make their respective currencies weaker in the name of inflation, in exchange for goods and services.
What is more, the west sell their debts amongst themselves and other countries to create artificial demand for their currencies and products.
How long can they
succeed in this new technology? ❤
Doing business in your own currencies makes your economy strong: Russia is now the fourth largest economy in the world: Nigeria please continue doing business in your own currencies!!!
A lot of people believe in the reality of their religious faith. Armageddon.
Oh it's guaranteed to happen. You should have never done this. This is something that guarantees it. We will absolutely make sure of it with every last fiber of our being.
We're going to go out with a bang
@@TacticalMayo Rambo bambo on his rant again.
Subscribed ❤🎉 👍
Its really sad while half of America votes for a fascist there are these real issues being ignored.
They gave a false GDP figure by causing a rise in the price of food, housing and transport and then fiddling inflation figures. So a house that had costed 10000dollars to build is now 500000dollars. The olives that gave you 5 litres of olive oil last year for 20 dollars became 5l for 60 dollars from the same 100 year old tree. Gosh! Aren't we suckers.
Educate them
How can I get a signed copy of your books?
The IMF publish brut GDP, the World's Bank publish the more realistic GDP PPP (Power Purchasing Parity) which gives a better understanding of how the World's economy is changing.
Imf has also stated today that the United States is still the medium of all worlds growth
Ppp doesn't matter
he doesn't say that the brics is a economic bloc due to the euro dollar, namely the USA and Europe. I suppose the question should be what would happen if the USA and Europe stopped creating all those currency units.
G7 and the collective west have become word salad. 😂
That's not true
@@TacticalMayo Cry, Mr. Mayonnaise.
India is playing its cards well. Despite being a member of Brics, it still continues to maintain reasonable relationships with the West, without sacrificing its independence. South Africa should take note and not continue to allow itself to be a a doormat for Russia. China and now, Iran too.
SA knows better. After being a door mat for its colonial master for centuries.
👏👏👏👏👏👏👏👏
I was expecting an update on the brics summit in Kazan, he seems to be talking about the same thing in every presentation. What about the brics declaration?
@dand4075. Whaa,,, 😭. 👈 🎥👀🌍😆🇨🇦
So what. Why do you panic. Let people do what they do. That’s what the USA has always done. So mind you business and don’t nudge others better than you. Nobody cares what you are panic about
He was very level headed and rational in his presentation.
However, you are hysterically ranting in panic mode.
HA!!
@@kevinschmidt2210no he's panicking because he wants the US not to do what he knows. We are going to do over this. He wants us to just accept and everyone knows it's not an option so MAD is going in the garbage.
Prepare to face infinity
WHAT YOU CALL THE ALTERNATIVE IS THE INEVITABLE.
If you use basic business concept of cash flow. GDP is Profit. Sovereign Debt is Cost.
If don't have any Profit, you business go kaput.
we know. But the politicians and there propoganda media dont tell. What can I do asa single eu citizen.
Don't worry, you're not even considered one of us here. You know how we see all of you. Just pack everything you got and go
👍🏼
Dear Professor, you have previously spoken of the decline of the capitalist system and the decline of the influence the G7 will have in the world in the future. You have also spoken about the differences between capitalism and socialism.
What I’d like to know is, what difference will the world current capitalism driven problems be, by changing the players. Will there be different ways to make deals for capital for infrastructure development. Will there be different voting blocks in institutions like the UN, will the UN get more teeth and will BRICS get rid of the Vito power used so effectively by American and Russia.
We human are sick to the back teeth of being manipulated by the powerful. When will we get the chance to live a fair life. Will a socialist society be established once BRICS’s influence really kicks in.
You're not going to. They challenged the US. It's over.
Thank you Richard luv ya!
That is right Professor
Wrong wrong as can be
Great presentation of IMPORTANT statistics
In terms of trends for the future, the changes year to year GDP growth definitely tell a story of a seismic shift. But in terms annual GDP dollar totals by nation, the G7 is still the dominant bloc - for now.
The US by itself has as much GDP as China, India ,Russia, and Brazil combined. So, there is that. The US / NATO is also making disturbing noises about prospects for a new proxy war / conflict over Taiwan within the next couple years. I guess that’s how they are going to respond to the threat of losing global dominance.
Although it doesn’t seem like they had the sort of success they hoped for with their proxy war against Russia. Their mobilized war economy seems to be have made Russia emerge stronger.- not weaker. The US may soon have face the unsettling fact that they no longer can dominate as it once did.
@@leonardmccannon3136
Where does the g7 stand if the gdp is calculated in PPP ( purchase power parity) ?
And while the “West” is sleeping!
I am waiting for Mexico to join BRICS.
Thanks for your informative video .
I am no cheerleader for Trump but he is certainly on the case as far as the BRICS threat is concerned
As always thank you professor Wolf for the reality check!
It's not reality. It's tanky BS
@@TacticalMayostill delusional I see 😂
@@jaaydenhuynh It's not the truth. You think the US will just sit there and it's whatever? Lol. You will get quite the opposite.
@@TacticalMayo Dream on, Rambo.
Argentina and Saudi are NOT in
Assuming they decide to create a new currency and use some sort of gold standard. The gold for the vaults will have to come from somewhere. Wall Street appears to already be betting that a substantial amount will come from the gold exchanges over some period of time and as usual are trying to steal a share by pushing prices up now. So much for market efficiency. The BRICS players probably have enough among themselves to cover it without paying a premium to Wall Street. The choice is theirs. Either way higher gold prices will be inflationary. The price of manufactured goods that are made with gold will go up. Inflationary but not inflation. Everything with a mother board is going to go up. Is our economy so fragile that we should be bracing for another inflation event shortly? Higher interest rates? etc.
its over usa, get your big head around this.
Politicians and people like you
Get ready for ride