**Geopolitics Special: Did the BRICS Just Declare Independence?
Negotiations are Escalating
Good afternoon. Holiday weekends are frequently times when news that has to get out finally gets out. Historically, for example, bad economic data is famously dumped on Fridays.
This Independence Day, however, may have a whole new meaning in the BRICS part of the world.
SIGNIFICANT GEOPOLITICAL STORIES
Over the last 2 days no less than 4 important developing stories have been released by major news offices covering monetary multiparty and damaged western supply chains.
GF: China Owns The Whole Solar Supply Chain- Analysis
FP: BRICS Gold Currency is Coming
Bloomberg: Silver Shortage and Solar Demand
mirroring what we’ve been writing about the past week
Reuters: India refiner using Yuan for Oil now
Additionally and perhaps most significantly, ZH reports Yellen is headed to Beijing in a hurry to meet Xi this week.
Here are those stories.
Also note there is supposed to be an announcement by BRICS August 22nd as well. This is not a coincidence in our experience. We are in the anteroom of something significant.
"South Africa will host the 15th BRICS Summit at the Sandton Convention Centre in Sandton, Johannesburg, from 22 to 24 August 2023," the Department of International Relations said in a statement.
It’s kind of staggering to see this all bunched up, but not completely foreign.
One Way to Read it
When a developing event crosses some threshold beyond US control ( BRICS Event?) and the Gov’t cannot change the path it is on, the MSM press is mobilized to get the news out while Geopolitical negotiations (Yellen to Xi) go into high gear.
In the past we’ve seen this frequently as war negotiations or trade-talks get stuck. OPEC+ talks are one obvious version of this.
We cannot be 100% sure, but we’re sure enough to say: Negotiation escalation is unfolding. We are entering a realm of uncertainty now.
There is a deadline approaching and as Pozsar has stated before referring to onshoring and supply-chains: This stuff has to get taken care of yesterday
Negotiations Escalate
The real negotiating is starting between the BRICS and G7 with everything on the table including but not limited to: Dollar Dominance, Trade protectionism, Supply Chains, Sanctions, Ukraine war, US Monetary policy (as impediment to Chinese growth).
And no doubt a good share of side-negotiations for contingencies is going on between individual BRICS and the US. Like a game of Survivor
It is important to note, this does not have to end in headline fireworks. But if we are right compromises will be made, victories will declared by all, and the US will have given something up to get something back. Announcements will be murky.
Also
Academy Securities: What a weird week
Goldman: Crypto Monthly Report