The BRICS Commodity Powerhouse: Can It Force a New Economic ‘Order’? By Alastair Crooke

Reality will force the new economic order. Commodities are used in lots of stuff; they have economic value. Currencies and debt issued by government are merely pieces of paper or computer notation. They are of uncertain and generally shrinking value. From Alastair Crooke at strategic-culture.su:

Who now controls inflation in the U.S.: A trapped Fed, or the new commodity king?

A quiet ‘watershed’ moment has passed. It was nothing ‘splashy’; many perhaps barely noticed; yet significant it truly was. The G20 did not descend into the expected sordid confrontation, with the G7 states (which Jake Sullivan has called the ‘steering committee of the free world’) demanding explicit condemnation of Russia over Ukraine, versus the Rest – as happened last year at Bali. No, the G7 unexpectedly ‘surrendered’ to an ascendant global ‘Non-West’ – one that cohesively insisted on its collective stance.

The stirrings of insurrection had been evident from the BRICS summit in August – the writing was on the wall. The Non-West would not be corralled or coerced into support for the G7 ‘line’ on Russia. The war in Ukraine was barely mentioned in the final – agreed – declaration; the export of grain (Russian as well as Ukrainian) was treated even-handedly. It was a masterpiece of diplomacy by India.

The G7 evidently decided that the Ukraine ‘point-scoring game’ was not worth the candle. The former prioritised getting to consensus, rather than crashing the G20 (perhaps ‘finally’, with a deadlocked declaration).

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