Fred Smith, Founder and Executive Chair of FedEx, has issued a dire warning regarding the BRIC Alliance, which includes Brazil, Russia India, and China. He warned that the U.S. Dollar is under threat and could be overthrown.
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
Smith, speaking to Bret Baier of Fox News, said that despite the Biden administration’s claims that inflation has fallen, prices have still risen 17.9 percent in the time since Biden became president.
I believe the issue goes much further than the CPI announced today. We’re the richest nation in the entire world thanks to all the wonderful inventions that have been made since the end of World War II. We’re also wealthy because we are the leaders in the world when it comes to opening up trade markets, and we protect those trade flows through the American Military and alliances. Third, and perhaps equally important, is that we are the reserve currency for the world. The dollar is a medium of exchange and our financial institutions have control over the flow of money in the world. All three things were connected.
He said that in 2023 the government will borrow nearly two trillion dollars, and in 2024 the Congressional Budget Office (CBO) will spend less money on the Defense Department because they’ll be spending more on interest.
You repudiation both trades in 2018, when President Xi began the trade wars with President Trump. And more recently, we have seen our government borrow money at an incredible rate – almost $2 trillion last fiscal year. The CBO has just announced that this year we will spend more money on interest than on defense. In our current political discourse, these topics aren’t even brought up. This is very worrying.
Smith warned that politicians should stop borrowing trillions and address the situation. He warned that the U.S. economy was not doing well due to innovators, but because the government borrowed money “from our children.”
FedEx founder Fred Smith warns @BretBaier the U.S. economy is growing “not because of invention and innovation, the things that have made the country great, along with trade and the strength of our dollar—It’s been because we’ve borrowed from our grandchildren, and we’re spending…
— Lucas Tomlinson (@LucasFoxNews) February 14, 2024
FedEx Founder, concluded that the BRICs Alliance is on a quest to dethrone the dollar.
The dollar’s status as the reserve currency is also crucial to our ability to print money whenever we want. The so-called BRICS — Brazil, Russia India, and China — are on a course to overthrow the dollar. If this happens and we are unable to sell our bonds, the living standards we enjoy today will be a distant memory.
Biden and Congress must give this issue top priority before it reaches critical levels. Elected officials do not respond with enough urgency to this threat.
