The BRICS Project: Capitalism’s Logical Evolution
In today’s complex and interconnected world, the BRICS (Brazil, Russia, India, China, and South Africa) have garnered attention for their potential to reshape the global economic landscape. Some herald this as a sign of emerging multipolarity, a shift away from the dominance of Western powers. However, it is essential to temper our enthusiasm with a dose of reality. The truth about BRICS is far more nuanced than it may initially appear, and its origins can be traced back over two decades to the boardrooms of Goldman Sachs.
The Birth of BRICS: A Goldman Sachs Creation
The BRICS concept and term were not conceived in clandestine government meetings or born out of geopolitical turbulence. Instead, they were the brainchild of Goldman Sachs and, more specifically, Jim O’Neill, the firm’s Chief Economist in 2001. O’Neill grouped these countries together primarily based on demographic trends, predicting that they would eventually surpass the G7 economies in the next 40 years. This was not a philanthropic endeavour; it was a calculated forecast driven by the belief that globalization could no longer be solely dominated by the United States without causing political turmoil and appearing overtly imperialistic.
Goldman Sachs and the Branding of BRICS
However, Goldman Sachs did not stop at coining the term. They astutely marketed BRICS as a brand and even went as far as attempting to trademark it. Investment firms across the United States and Europe eagerly embraced the concept, giving rise to BRICS investment funds. Over time, these nations formalized their cooperation, culminating in the establishment of a formal bloc. What is crucial to understand here is that this grouping was not initiated by governments but rather orchestrated by the global financial elite.
Jim O’Neill’s Continued Influence: The Call for a BRICS Currency
Fast forward to the present day, and we find the same Jim O’Neill advocating for BRICS to create their own currency. While he may be retired, his voice still carries weight as a representative of Goldman Sachs. This shift away from the dollar is not a sudden ambush on the Western world; it is part of a meticulously planned transition of the global economy orchestrated by the owners and controllers of global financialized capital.
Europe’s Destabilization: A Part of the Grand Shift
The recent destabilization of Europe is also an integral part of this grand shift. Billions of euros in direct investments have exited Germany over the past year, and corporate bankruptcies are at record highs. Europe’s manufacturing heart is deindustrializing, and this is primarily because the owners and controllers of global financialized capital no longer see Europe as a promising investment destination. The stark reality is that these financial elites, not European governments, wield the power to shape the continent’s economic future.
The Dilemma of Europe’s Demographic Decline
Europe’s demographic decline poses a significant challenge. One potential remedy is to increase immigration. However, a substantial portion of non-European immigrants to the EU lack the skills needed to make meaningful contributions to the economy. This highlights the harsh reality that Europe’s value is now determined solely by its utility to global financial elites.
Private sector power has already infiltrated the US to a significant extent, with armed forces more likely to be used to suppress domestic dissent than to occupy foreign lands
Immigration and Internal Strife
Immigration also has a darker side: it allows native Europeans to direct their frustration at foreigners, leading to conflict. To these financial elites, a Europe torn apart by internal strife can still be profitable. As long as the masses are preoccupied with infighting, the financial elite can continue to pursue their global agendas.
The Middle East’s Emergence: Insights from BlackRock
A decade ago, BlackRock was promoting investments in emerging economies outside of BRICS, with a particular focus on Saudi Arabia. Today, we see the Middle East emerging as a new economic hub. Saudi Arabia, consulted by financial giants like Goldman Sachs and BlackRock, is well aware of these plans. The point is, that none of this should be unsettling or surprising. It’s not a sudden shift that’s catching the West off guard; it’s a logical evolution of capitalism influenced by demographics and the rise of parallel power structures in the private sector.
US Response and the Future of BRICS
The idea that the US will fiercely fight against de-dollarization or engage in imperialistic wars against BRICS nations is questionable. Private sector power has already infiltrated the US to a significant extent, with armed forces more likely to be used to suppress domestic dissent than to occupy foreign lands.
Unintended Consequences and the BRICS Era
Intriguingly, anti-Russian sanctions have inadvertently benefited Russia financially. India and China have also reaped rewards, while foreign direct investment in Brazil and South Africa has surged. Ukraine, despite its turmoil, has played a pivotal role in shifting the global economy eastward and southward.
To be clear, Goldman Sachs and the global financial elite did not cause Europe’s demographic collapse, but they foresaw it and devised a Plan B, represented by BRICS. This is capitalism’s logical evolution, and it’s not about a multipolar world emerging; it’s about private sector power eclipsing state power and reshaping the global economy. BRICS may not be the panacea some envision, but it is undeniably a product of meticulous planning by the world’s financial elite, reshaping the destiny of nations and economies on a global scale.
