BRICS Global Reserve Currency - chess move to build sphere of influence | ON FINANCE

As a move to address the perceived U.S. hegemony of the IMF, Russia is ready to develop a new global reserve currency alongside China and other BRICS nations in a potential challenge to the dominance of the U.S. dollar. This chess move will allow BRICS to build their sphere of influence and unit of currency within that sphere.
#BRICS #currency #USDdominance

Dukascoin - Cryptocurrency by a Swiss Bank:

[siphelelemhlungwini]

AS A SOUTH AFRICAN I PRAY BRICS MAKES THE DOLLAR FALLS SO THAT THE WILL BE PEACE IN THE WORLD.

[Rachelschneider]

I appreciate your honest reporting. I admire you a lot for educating everyone. It all depends on the information and method applied. I've seen people earn significant 7-figure profits in sinking markets and pull it off just as easily in bull markets. There is no doubt that the crash/recession is making someone wealthy.

[ashishtiwari]

China is planning to buy saudi oil in yuan. And India is having rupee ruble arrangement to buy oil from Russia. There is a lot of work going on in the field of EV and hydrogen fuel both in China and India which would drastically reduce the need for crude oil in the coming 5-10 years. So, maybe within the next 10 years the USD won't be as dominant as other currencies.
Having alternatives to USD is necessary because monopoly is dangerous for the non-western countries. So they are simply creating their own financial system so that transactions aren't halted if US went against them. And it is not just on paper. It is happening for real.

[gargsamyt]

On Jun 27, Iran & Argentina officially applied to join BRICS. Purnima Anand, BRICS' president said on July 14 that Saudi Arabia, Türkiye, and Egypt's application for the bloc's membership will be analyzed and processed at next year’s summit, expected to be held in South Africa. Earlier this week, Nigeria also stated they are open to join.

[razakkalik]

Saudi Arabia, India and China are moving away from usd.... Now Indonesia and China agreed to trade in their respective currency

[sergiomoran]

APPROVAL IS THE KEY WORD, BUT, BRICS DO NOT NEED THE APPROVAL OF ANY WESTERN COUNTRY, BY THE WAY, WESTERN COUNTRIES CAN"T STOP TRADING WITH BRICS NATIONS

[natedizzypro]

Those countries have all the resources. The dollar is fucked. Buy precious metals while in you can.. China India and Russia has always loved gold

[ragnartobi]

The problem is if Saudi Arabia enters if major resource-owning countries enter this bloc and do not trade anymore in US Dollar or Euro, inflation in US and EU will rise 30-40%, because what do we have to offer those countries? All industries are in Asia in China!!!

What matters is who has food, resources and factories and builds goods....with printing money you can not create wealth, just illusions and bubbles!!!

[jimmytakayesu]

The plan may not be to entirely replace the USD as the World’s Reserve Currency but to create an alternative system that can be used by “friendly Nations” in bilateral trade. When an American Administration is in office that seems intent on destroying its country’s economy & weakening the USD, what better time to create an alternative system that’s not directly under the thumb of the USA.

[ablam]

You kinda missed the fact that countries are dumping their dollar holdings, making it harder for the USA to print money. As more of this happens, dollar loses it's power. What is this $30, 000, 000, 000 debt of US, well this won;t help the dollar.

[tebogomashigo]

I honestly hope that the BRICS plan goes ahead, the US shouldn’t have so much power.

[keithfernandez]

THE SMELL OF DEFEAT !! THE GREENBACK IS AS GOOD AS

[kevinw]

Mr. Putin is a very smart chess player and has warned the U.S. for years Russia is tired of buying our debt. The U.S. hates competition for reserve status. One must ask the question what country would want to continually buy our debt when the dollar is being printed into oblivion? This seems to be where gold steps up and becomes a true player in the mix of things.

[josphinemwangi]

From Kenya i really pray for Brics to work out and make US together with europe to fall

[steelydan]

When the dollar falls there will be Peace on Earth.

[nats]

Wishful thinking on that last guy. The dollar will be kaput sooner than he thinks.

[azharidris]

what a laugh.. the loo paper USD technically died quite awhile ago.. its currently on life support.. very soon will be fertilizer.. why is he talking about this.. its common knowledge..

[MrStillmans]

If the nukes launch, I want this guy in a war room with a mike explaining the commodities situation.

[YenDiki]

THE DOLLAR WEAPONISATION WAS THE BIGGEST MISTAKE POSSIBLE BECAUSE IT DESTROYED THE WORLD'S TRUST IN THE CURRENCY. 💥🤦‍♂

[wulung]

This new currency is not targeted at any nation but to increase trade among the BRICS nations