REAL TALK TUESDAY: Is BRICS Ready To Make Their Move? Ripped From The Headlines, September 10, 2024
News Out Of Russia Points At Big Moves From BRICS At Their Upcoming Meeting On October 22nd. Read, Share, & Subscribe - SherlocExposes.com
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BRICS On The March: What’s Coming Next?
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Regular readers of Ripped From The Headlines are already aware that we’ve covered the progress of BRICS (Click Here and Here, to see more coverage) extensively since our inception in 2022.
Nations around the world smell blood in the water when it comes to the US dollar… and it looks like they may be ready to make another move.
From TASS:
“The BRICS countries are developing a wide range of instruments for creating an inclusive international financial system, some of them may be announced this autumn at the summit in Kazan, Andrey Mikhailishin, the head of the task force on financial services of the BRICS Business Council, told TASS.
‘We are preparing a presentation of some solutions for the autumn BRICS summit, in the retail and b2b segments," Mikhailishin said on the sidelines of the forum "Digital Finance: New Economic Reality.’”
And, the potential moves look VERY interesting:
“He also confirmed that a list of projects has been determined, which a common unit of account (Unit), a platform for international settlements in BRICS digital currencies (Bridge), a payment system (Pay), a settlement depository (Clear), an insurance system (Insurance), and a BRICS rating alliance.
The key principles in designing the new financial system are the decentralization of international interaction and the use of digital technologies. In particular, Mikhailishin noted that BRICS Clear will ‘use blockchain to record securities and exchange them.”
In short, the BRICS nations have put together a parallel economy payment ecosystem… completely bypassing the SWIFT, and other, international banking standards.
And, there appears to be a game changer as well. We’ll take a look in a moment.
After laying out some of the plans for the upcoming BRICS summit, what came next was a surprise:
"When we talk about a counterpart of the transferable ruble, we mean that settlements but not the storage of balances are made in national currencies," he explained.
The Unit project assumes that the value of the common unit of account is pegged by 40% to the value of gold, and by the remaining 60% to a basket of national currencies of the BRICS countries.
This approach can make it a convenient and universal instrument, Mikhailishin said: ‘When you have a unit of account that can be converted into any national currency, it is more convenient for you to hold it, since it is a more liquid instrument,’ he said.”
You’ll want to keep an eye on this.
If launched as advertised, this will be a major disruptor. As we shared last year:
The BRICS nations are making their move…
That fact sends a STRONG message to the Western world… you’ll recall Putin moved $400B + in crypto and #gold when he was kicked off of the SWIFT banking system…
Now, other players around the world are basically saying that there’s no need for the dollar to be the reserve for anything:
“That will represent a direct challenge to the western-designed (and enforced) monetary system, head on. And it comes on the heels of BRICS members already transacting their bilateral trade in local currencies, and bypassing the US dollar.”
Brace For Impact.
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