Yanis Varoufakis breaks down the illusions of anti-imperial resistance within BRICS, exposing how the bloc’s elites—particularly in China and Russia—benefit from and reinforce dollar hegemony by storing their wealth in U.S. assets. Despite rhetoric of multipolarity, BRICS remains constrained by its dependence on the very system it claims to challenge. Varoufakis explains that the bloc originated not as a geopolitical counterweight but as a marketing tool by Goldman Sachs, and its development banks still rely heavily on dollar-backed lending.
Turning to Trump, Varoufakis warns that his technofeudal alliances—especially through crypto legislation—serve Big Tech and finance, not workers. Though MAGA trade policies posture as populist, they threaten capital flows that Wall Street depends on. In the end, Varoufakis argues, Trump will side with oligarchs over labor, offering the Left a chance to expose the contradictions and reclaim political ground.
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