Published on February 15, 2024, 1:45 am

Fred Smith, the renowned founder and Executive Chairman of FedEx, has voiced a stern warning concerning the potential instability of the U.S. dollar in light of developments within the BRIC alliance – Brazil, Russia, India, and China. This group’s intention to dethrone the USD as global reserve currency could have far-reaching implications on American living standards and its economic dominance.

While assurances from the Biden administration suggest that inflation has decreased, Smith contends that prices have still surged by 17.9% since President Biden assumed office. He argues this goes beyond merely observing consumer price index (CPI) fluctuations.

The United States has historically enjoyed unparalled prosperity due to a trio of factors post-World War II – cutting-edge technological innovations, leadership in opening global markets for trade (underpinned by its military might and strategic alliances), and dominance as the world’s preferred reserve currency through robust financial institutions enabling worldwide monetary exchanges.

However, recent policies seem to threaten these pillars of economic supremacy. Smith importantly emphasizes that unprecedented borrowing rates – nearly two trillion dollars in 2023 – coupled with restrictions on Defense Department spending imposed by Congressional Budget Office predictions for 2024 reflect an alarming imbalance not often discussed in contemporary political conversations; generating grave concerns over fiscal responsibility and long-term sustainability.

Calling for immediate attention to this pending crisis, Smith asserts that continuous borrowing at such incredible scales is unsustainable; essentially indebting future generations at unjustifiable costs. Despite significant achievements in innovation and strengthening world trade mechanisms, he admonishes government administration for negligent fiscal practices hindering real economic progress.

Aligning with his perspective is clear-cut evidence: The aforementioned BRIC alliance’s dedicated pursuit to switch out USD as lead currency provides worrying insight into potentially drastic changes in global finance dynamics. Should they achieve this goal rendering US bonds unsalable, we may witness dramatic declines in our present living standards according to Smith’s prophetic analysis.

Thusly it becomes imperatively crucial for administrators, including President Biden and Congress, to address this escalating issue with stringent strategy and aim to fortify the USD’s supreme status while curbing mounting national debts. Alarmingly, it seems as though necessary action from officials is yet not forthcoming at a pace required considering potential threats.

Evidently, trusted news sources like us play a crucial role in raising awareness about such major concerns using rigorous journalistic standards infused with our inherent Christian worldview – enabling educated discussions leading to practical solutions. Persistent dissemination of real news is crucial in meeting these difficulties head-on – guiding policymakers towards timely strategic decisions to safeguard our collective financial future, and securing our economic sovereignty amidst growing adversarial pressures.