Last week, the BRICS countries, Brazil, Russia, India, China, and South Africa, agreed to

expand their membership and potentially move toward more bilateral trade deals that would

bypass the U.S. and the dollar.

In this episode, we discuss what took place during that three-day summit and their broader

implications for U.S. interests.

I'm daily wire editor-in-chief John Bickley with Georgia How It's Saturday, September

2nd, and this is an extra edition of Morning Wire.

Joining us now is former Wall Street financial analyst, John Rabino.

Hey John, so last week, the BRICS countries held a summit in which they decided to admit

new members, including Saudi Arabia and the United Arab Emirates.

How do these actions relate to the broader geopolitical landscape?

Well, first of all, the BRICS countries played an interesting little game of misdirection

there because originally, before the meeting, they announced a gold-backed currency

was a possibility and that got everybody excited.

While we were looking over there, they inducted Saudi Arabia, the United Arab Emirates,

and pretty soon, Iran, into their group, which is very consequential.

Now, the backdrop to that is that the U.S. by virtue of having the dollar as the world's

reserve currency is by far the most powerful financial entity in the world.

Instead of being benevolent monetary dictators, we become bullies out there.

We weaponize the dollar and our control over the global, for instance, bank clearing system

and the other monetary entities like the World Bank and the IMF that we control.

So, if anybody steps out of line, the U.S. can just kick them out of, for instance,

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