A Multipolar World Approaches

As the Biden administration persists in its dangerous folly in Ukraine, China brokers peace. Meanwhile, a global detachment from the U.S. dollar is accelerating.

Chinese President Xi Jinping meets with Russian President Vladimir Putin in Moscow on March 21, 2023. (Photo via Getty Images)

The military situation for the Ukrainians in their fight against Russia has turned increasingly bleak and desperate. In a surprising transformation, the corporate media in the West, from the Washington Post to Politico, have reported on severe and horrific casualties on the part of the Ukrainian side, along with highlighting massive problems within the armed forces: morale, ammunition shortages, and in particular, the reality of the battlefield surrounding the Ukrainian city of Bakhmut.

The Wagner Group, along with regular Russian soldiers, have all but entirely surrounded and conquered the eastern Ukrainian city, territory that the Zelensky regime has poured tens of thousands of ill-prepared and under-trained men into to die within hours. Bakhmut has been described by Ukrainian soldiers as a “meat grinder” for Ukrainian infantry, signifying the heavy losses sustained by Kyiv. Even Ukraine-based media outlets are beginning to concede the truth about the ongoing war.

An early March article in The Kyiv Independent acknowledged “extreme ammunition scarcity” in Bakhmut and pointed out the extraordinary fact that Ukraine is “having to use weapons dating back to World War II.” The outlet also conceded that Ukrainian troops “are barely given enough time to learn to shoot a rifle” before being thrown into battle on the front lines. Moreover, the amount of time spent training these young soldiers “is just two weeks.”

With Ukraine surely losing Bakhmut, Western media outlets, after several months of erroneously claiming that Ukraine had the upper hand, will likely downplay the significance of the city being obtained by Russia, spuriously obfuscating how truly crucial and meaningful it was to the regime in Kyiv. Pointing out the importance of the town, Bakhmut has been characterized by analysts as “the keystone in the edifice in the defense of the Donbas.”

As the Biden administration maintains the status quo with regard to Ukraine, any calls or urges for a potential ceasefire to stop the fighting are unanimously rejected by its mouthpieces. Days before the historic meeting between Xi Jinping and Vladimir Putin, White House National Security Advisor John Kirby derided any potential calls for a ceasefire following the meeting between the two leaders as “unacceptable,” in all likelihood referring to Beijing’s 12-point peace plan for ending the war in Ukraine, a proposal that has been totally rejected by the U.S.

China brokers peace and the abandonment of the dollar

On Friday, March 10, it was announced that after four days of discussions, the countries of Saudi Arabia and Iran agreed to reestablish relations and ties with one another in talks brokered by China, representing a historic development toward peace and stability in the region. The deal includes the restoration of diplomatic relations between the two rival powers as well as the re-opening of their respective embassies within a period of two months. (Saudi Arabia severed diplomatic ties with Iran in 2016 after its embassy in Tehran was ransacked following the Kingdom’s execution of revered Shi’ite cleric Nimr al-Nimr.)

With the reestablishment of relations and dialogue between Riyadh and Tehran also arrives a significant shift in many different aspects. In particular, war. The deal could have widespread implications for ending conflicts in the Middle East and could very well be the stepping stone to ending the gruesome war in Yemen waged by the Saudis. Additionally, the U.S. and Israel seemed to have lost an essential player (Saudi Arabia) in their planned regional war against Iran.

Less than two weeks later, on March 21, China’s Xi Jinping and Russia’s Vladimir Putin convened in a historic get-together in Moscow to converse about policy, Ukraine, the West, and advancing economic partnership between the two powers. The significance of this meeting could be extracted as the two leaders bid farewell to one another. “Now, there are changes that haven’t happened in 100 years. When we are together, we drive these changes,” Xi Jinping uttered to Putin. “I agree,” responded Putin.

The closer cooperation between Moscow and Beijing has been construed as a leap forward to a multipolar world in which the United States is no longer the world’s leading empire and a world in which the dollar is no longer the world’s reserve currency. We are already beginning to witness this shift as many countries are slowly deviating away from the dollar and the U.S.-led New World Order.

Rather than depend on the dollar, various countries in many different regions are solidifying economic partnerships with other powers while advancing new ones unattached to American hegemony. Recently, China and Brazil struck a deal that would enable the two countries to directly implement trade and financial transactions using their own currencies, the yuan and reais, rather than going through the U.S. dollar. Also, France and China completed the first LNG gas trade denominated in the Chinese yuan in “an attempt to promote multi-currency pricing, settlement, and cross-border payment.”

With regard to Saudi Arabia, the Kingdom recently joined the Shanghai Cooperation Organization (SCO), officially becoming a dialogue member in an economic and security bloc that consists of Russia, China, Iran, India, and many other nations. In one of many moves that undoubtedly point to closer economic cooperation between Riyadh and Beijing, the two countries agreed on a deal that would see the Saudis build a Chinese oil refinery for 83.7 billion yuan ($12.2 billion).

The government of Kenya also announced a deal with Saudi Arabia to purchase oil with their own currency, the Kenyan shilling, instead of U.S. dollars. After the deal was completed and agreed upon, Kenyan President William Ruto advised Kenyan citizens to ditch the dollar: "I'll give you free advice, those of you who are hoarding dollars, you certainly might go into losses, you better do what you need to do, because this market is going to be different in a couple of weeks," Kenya’s President said.

BRICS, the international group of emerging economies that includes Brazil, Russia, India, China, and South Africa, is reportedly formulating plans to create a “new currency” that could potentially rival the dollar in the global economy. Combined together, the BRICS member states comprise a whopping 40% of the world’s population. Something of this magnitude cannot be brushed aside. Meanwhile, the Chinese yuan recently became Brazil’s second-largest currency in foreign reserves, surpassing the euro, as well as becoming Russia’s most traded currency, replacing the dollar.

These are just a few examples of the dollar’s recent deterioration in the world economy, but by no means has the currency been obliterated. But day by day, the dollar is losing ground internationally due to the Biden administration’s incoherence and arrogance on the world stage and our struggling economy here at home. The American empire’s greatest adversary, China, is brokering peace between rivaling nations while the U.S. continues unabated in waging its foolish proxy war in Ukraine and provoking numerous powers into conflagrations across multiple regions.

In truth, the U.S. government has no one to blame but itself. It was NATO’s continuous expansion up to Russia’s front porch that backed Moscow into a corner and into a partnership with Beijing, a union that Washington purportedly sought to prevent. Bureaucrats can fret all they want, but they are the ones who made it happen. Rather than utilize the art of diplomacy and friendly dialogue with the Kremlin, D.C. chose conflict and provocation. For that, Ukrainians continue to pay the price.

If America’s leadership circles were comprised of actual statesmen and not rambling, unqualified warmongering fools, it would have been America that brokered peace between Saudi Arabia and Iran, not China. But Washington ideologues are far too blinded by their regime change-dominated mindset toward Iran to even remotely consider the possibility of normalizing relations with Tehran.

For far too long, interventionists within the U.S. government have abused the dollar’s position as the world’s reserve currency to wage aggressive war, bully dissenting countries into submission, and enrich themselves in the process, all without facing repercussions. It seems as if the world is becoming increasingly disenchanted with their shenanigans.

By printing trillions of dollars out of thin air through the Federal Reserve, levying sanctions on Russia that ultimately backfired, and accelerating toward a global conflict through Ukraine, decision-makers in Washington have dangerously weakened the dollar domestically and abroad. In the end, American citizens will suffer the consequences of their rulers’ decisions as the dollar will continually lose its value as a viable currency.

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