America's Greatest Enemy Isn't China or Russia: Its $35 Trillion In Debt

by Brandon J. Weichert

In the 2012 film Prometheus, a prequel to Ridley Scott’s 1979 hit Alien, one of the lead characters, Michael Fassbender, looks upon an embryo of the iconic monster and quips, “Big things have small beginnings.”

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One could say the same thing about the rising economic and financial trading bloc, loosely known as the BRICS bloc.

BRICS is short for “Brazil, Russia, India, China, and South Africa.” The term can find its roots in a 2001 Goldman Sachs report about the economy of the developing world. Many in the West have poo-pooed the term and the very notion that this budding economic alliance is anything but a gigantic show for the leaders of those countries to look like statesmen.

Yet, just as with the embryonic alien monster in Prometheus, the BRICS bloc has moved from a mere theory in the minds of turn-of-the-21st-century Wall Streeters and is slowly growing into a financial dagger aimed at the heart of the U.S.-led economic system.

America is the Beating Heart of the Global Economy

Americans secured a position at the center of international trade by the middle of the twentieth century.

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With a $1.6 trillion deficit this year, $35 trillion in overall debt, and $1 trillion in interest payments this year, if the U.S. dollar is no longer the primary global reserve currency and there is suddenly a true rival to the U.S. currency, then the entire American financial system comes crashing down.