@zebuceta I think they may just do that with a digital currency trade chain for sure. Would be VERY easy to set up with a static pegged asset such as gold.
My wonder now is the 'how' the BRICS currency system will be backed. Obviously local curriencies are being used to not centralize and dodge the dollar. There is news as well that they would be working on a payment system that is not SWIFT to 'strength exchange in local currencies'. They are definitely looking into something digital to bypass US markets. Perhaps it is a digital gold exchange system? Who knows.
At least it looks like they want infrastructure/further US weakness before they put up a full asset backed system.
So having listened and read more I am not hearing anything on an asset backed currency system having been announced. Though obviously things will gain more traction with oil cornered. However, my thoughts are now that they are going to look at creating/using msrket tooks for alt markets to be made first. My guess being each of these first nations currently let in in addition to BRICS will get these tools to be the centers of trade for their regions on their continents
BRICS boys having lunch. BRICS+ Is a thing officially now. The suez is essentially via land under control/influence. Largest Oil producers of Middle East are in BRICS, Iran w/ their military and market tech is joining officially. As of now they have key players joined. I will slepe before I report more certain news. Very good developments though.
@zebuceta Sounds like baseline they're saying too that they'll protect trade just like the US does. I kepe hearing that the US is the only one that can do that. Itnis evident that BRICS is showing they will be willing to do so too.
@zebuceta Conveniently too BRICS nations are sending 'peace keepers' to African nations for 'stability'
@zebuceta 🤔
@zebuceta I do agree. It allows flexibility and if any specific nation's particular market is assailed they can then sell through partners of the union.
@zebuceta They at least seem to have their goal set out. The issue being though is their time line for us internally across the pond, but at least their plan sounds like to soviet union the US. Isolate andnlet fail in their ideal outcome. Plus too it was confirmed that Russia's holding like 4 different larger events next year for economics and is hosting the BRICS meeting. Too there was some positive talk about a common currency, but will not be launched until more members are confirmed.
@zebuceta ..to announce a new Gold System and BRICS+ as a formality. Lots of talk of BRICS+ pretty much being in full agreement today. TONS of Talk on Ukraine War being the justification for establishing all this with the NDB (New Development Bank) of BRICS. Also extrapolation of the 'North South Corridor' infrastructure projects and more over some SCO exchange systems within the partnership
@zebuceta It was coming immediately after he talked about the failings of the Bretton Woods Institutions and followed up with this continuing trend of 'Supporting National Currencies' by the 'Global South'. I do hope they're just building their case and rhetorical foundation for tomorrow's meeting to simply conclude with their talks behind closed doors..
Lula talking about emulating the Bretton Woods systems to establish a secure bilateral system among BRICS nations.
BRICS+ Openly confirmed to be 'discussed' essentially just sounds like a formality. This will be all active applicants.
Listening to the Summit. Essentially so far BRICS+ sounds like it is being confirmed later on and further a 'National Currency System' to bypass the dollar will be here in the summit's talks. So Mpre BRICS is real and very real chance that they will be announcing a gold system.
@Tfmonkey Do you think they can pull another lockdown? I think they may try, but they have no room for error if they do. If they do it (Assuming BRICS is somewhat coherent) they could get slapped with an embargo at the moment they do and things would get ugly. Who knows perhaps andeal was made as well.
@zebuceta The context going into lock downs is very different now. Things can only get so bad before people have to revolt. These times around people likely will
@zebuceta Now that the US has declared its open hostilities on the world I see it being challenged as a likely conclusion. Now Domestically who knows. However, foreign nations may simply move on further from the west.
Joined Nov 2022
