Saturday, April 1, 2023

BRICS Nations Working On Developing A “New Currency”

(Photo Credit: Twitter/ @EVILSAGAGemini)  

The Cradle: BRICS nations working on ‘fundamentally new currency’: Russian official 

The US dollar's hegemony in international markets continues to deteriorate partly due to the Global South's refusal to enforce western sanctions against Russia 

The Deputy Chairman of Russia’s State Duma, Alexander Babakov, said on 30 March that the BRICS bloc of emerging economies – Brazil, Russia, India, China, and South Africa – is working on developing a “new currency” that will be presented at the organization’s upcoming summit in Durban. 

“The transition to settlements in national currencies is the first step. The next one is to provide the circulation of digital or any other form of a fundamentally new currency in the nearest future. I think that at the BRICS [leaders’ summit], the readiness to realize this project will be announced, such works are underway,” Babakov said on the sidelines of the Russian-Indian Strategic Partnership for Development and Growth Business Forum.  

Read more ....  

WNU Editor: This BRICS currency proposal will be presented at the next BRICS summit in South Africa .... South Africa to host 15th BRICS summit at Durban in late August 2023 (Business Standard). 

BRICS Nations Working On Developing A “New Currency”  

Ditch the dollar movement grows as Moscow calls for the creation of a common BRICS currency -- Kitco News  

BRICS Group Works On A New Form Of Currency -- Telesur  

Hold Onto Your Wallets — A New World Currency Could Be In The Making, Courtesy Of BRICS Nations -- Benzinga  

BRICS Looking At Basing Financial Reserves On A Basket Of Their Own Currencies -- Silk Road Briefing


Anonymous said...

Lunchbox joe is mainly doing meet and greets. It is his speed. Meanwhile the Demc0ratapprachicks that migrate from Democrat administration to democrat administration push a radical agenda.

Jac said...

This is spectacular but stupid too. This is not the first time that some want to supplant the dollar but it has failed each time.Why? well, as long as the US is the leader in technologies, all countries will need to have dollars to buy them.
It's not enough to make a "new" currency for being successful. The rules of the economy are much stronger than political dreams.

Anonymous said...

It wasn't American tech that created the petrodollar, it was Saudi oil. The hope might be that our high tech sector maintains it, but it was built on commodities.

In that regard I personally don't see any difference between 1945 and now. The world still needs energy, food, and manufactured goods more than it needs American high tech. There is certainly room for two or more competing currencies in the near future.

Anonymous said...

As precarious as the dollar is, it is still far stronger than the currencies of these other shithole economies. It's all fine and good to imagine an alternative currency to the U.S. dollar. But based on what? Hopes? Dreams? That is what Disney World is for. They are hoping, dreaming, that their currency will exceed the sum of the parts of this alliance. Won't happen. What is the sum if each of the parts basically equals zero? Go ahead, add zero to itself five times over. What is the sum?

Anonymous said...

These BRIC "economies" exist in large part because of the current U.S. led order. Take the U.S. out of the equation, and say good-bye to most of what made global trade possible in the first place. For example, who's going to guarantee freedom of the seas, by military force if necessary? China? Brazil? Saudi Arabia? lol Most of the global trade these days occurs by sea. What if the oceans are no longer safe for long-distance trade? And that's just one of many considerations.

Anonymous said...

>"It's all fine and good to imagine an alternative currency to the U.S. dollar. But based on what? Hopes? Dreams?"

According to the white papers it will be based on gold mainly, as well as "a basket of stable global commodities". China, Russia and Brazil have been buying most of the gold globally for the last decade. I would say that the US dollar, with it's inability to turn off the QE money printing and runaway inflationary spiral, is far closer to the hope-backed model that you brought up.

>"Most of the global trade these days occurs by sea. What if the oceans are no longer safe for long-distance trade?"

That is why China is so focused on the belt and road initiative. They;'re well aware that our submarine fleet is our trump card that can spoil any world order that isn't exclusively dollar dominated... ...Unless trade in Asia, Europe, and Africa can happen completely over-land.

Anonymous said...

Way to go Democrat Party. The poison of the nation and the world.

Anonymous said...

2:35 AM, South Africa might be zero, but not the rest. Russia? China? India? not zeros, my friend. Far from it.

MR Nobody said...

The sad truth is that America cannot last forever,. Once a Christian based country it has turned into something most do not recognize.

Tech is great. Lots of money to be made and has been a boon to the US. But the key to our financial system has been the petrodollar. The PETROdollar.

A commodities based financial instrument.
Tech can and has been copied and replaced.

If Microsoft, Google, Facebook and the rest disappeared right now, the world would go on. If all the oil in the world disappeared right now, the global economies and thier dependent societieis would fall apart.
Tech will not save the American econ system.

Hans Persson said...

I actually agree with above and the world would stabilize if those social media platforms went away or radically reinvented itself somehow. We cant have one countrys propaganda machine blasting its agenda thru it.
Of course its the reason of most unhappiness in the world.

Anonymous said...

Hans, my favorite German, why are you so fixated on American social media companies?

Soon China will overtake the American ones. VK in Russia and the Chinese social media companies probably have government interference or propaganda. You won't know about china because the CCP is opaque and any Chinese Elon Musk has ceased to respirate for some odd reason.

Musk has cleared the Stygian Stables. It gives you a little breathing room. However, the Feds will be right back. Still it is common knowledge now, which helps people not get brainwashed. Before is was just conservative conspiracy theories.

Facebook is or was on trouble. After all the layoffs it might be in the black. So Zucker tried Meta and that is in trouble. Zucker might be done in by Democrats insisting on energy efficiency for everything and still gaming the system that people cannot pay their utility bills.

How much screen time can you have when your electricity is shut off?

Anonymous said...

орк: "We will defeat everyone, we will kill everyone, we will rob everyone. Everything will be as we like"

Anonymous said...

1205 and 1245.

This guy is a yo yo

Anonymous said...

wankers wank heere

Hans Persson said...


Dude, I don't want to be. But you do realize that other countrys also can access those social platforms. It affects other parts of the world too and we DO notice it. You might not even care, but outside the "US" there's a very different view of the "US". I want them either gone or they should have their section 230 revoked, all of them. Then I'm onboard.

As you might know, they threatened FB with revoking it when Zuckker said that even with his own statistics they knew that the "Russia buying ads on FB" was completely overexaggerated and nonsense. But he folded and got to keep his section 230. Nobody remembers this? Fascinating.

They ran with that until Elon bought Twitter, now we know most of all these stories were fabricated due to an agenda.
Shit, there's still people here in Sweden that says Trump was elected because of Russia.

Do YOU understand where I'm going? IF you do, you would agree.

Anonymous said...

I don't care.

Have you read the New York Times? It is a hack newspaper. It is read by many people in Europe. What if the NYT puts out a false story? Are you going to believe it and not read a few European newspapers?

The European has gone after Microsoft. They have threatened Facebook. The EU through Airbus is a major competitor of Boeing. The EU is big enough to read the handlers of the FBI the riot act. So before complaining about the FBI on the internet talk to EU politicians and regulators first and then feel fully justified complaining on the net to vent and/or persuade others.

Of course that might not work because how many people in the EU are in on it? The Brits then part of the EU certainly knew about the Steele Dossier. They went along with it. So the Brits helped keep the current @ssholes in power. Then the French dandy Macron led President Demento by the hand for his first big international gathering allowing the White House doctor and staff to continue the charade.

FB is pushing FBI propaganda. Well cross reference the story to what the French press agency or Reuters write on the subject and take it to an EU regulator. Have your politicians call it out.

There are differences between the European left and the American left simply because they are not the same people, but I think the European Left is more than happy to turn a blind eye or help out the American left go after Republicans or anyone bucking the system in the US. Once the Republicans are gone or more likely controlled opposition, the European Left will suddenly find problems with FBI influenced Twitter, FB and others.

Don't you consume Swedish social media? My spouse consumes foreign social media from the country of their origin. They can compare American social media and foreign so0ocial media and ask questions or reject brainwashing. You cannot do the same?

Hans Persson said...

I don't like the EU either, but that's another subject.
No I don't consume social media nor do I watch regular TV or news. Mostly because its not good for my temper.

So, when you have done that, decouple from this whole circus, it becomes much easier to go back and spot the bullshit. I recommend this to all.

I think I agree with you too.

Did you all know that Brexit scared the shit out of the deep state? I'm actually very interested in why.

Anonymous said...

Currency change will inslave mankind soon

Anonymous said...

Don't let it happen people worldwide riot's

Anonymous said...


Anonymous said...

God will be on your side if u have faith

Anonymous said...


In the Us we have local, state and federal government. that is 3 layers.

I assume that most countries are similar.

The EU seems like a 4th layer. It makes it seem so far removed from the people.

As verbally kinetic and as fast as events pile up with three levels of government, you need a scorecard like you would for football, basketball, baseball and more. Problem is if you do not want to follow a sport down to rosters and statistics or follow a sport at all, you can drop it. you cannot drop knowing what is going in in politics anymore.

And now there is a fourth level of government in the EU. Can people keep up with the rosters. Can people keep up with their track records? If most can't, then election are for show. It is democracy in form but not substance. Perhaps the EU-crats know this. Perhaps this is why they fear Brexit.

To truly be more Democratic or democratic at all they need to get rid of the European federal level of government IMO. I am serious. Psychologists studied the Mennonites. they found that Mennonite colonies are not large than 150 people or 150 working adults. When they reach that threshold they fission. Good so they notice this. Then they ask why. they posited that the human or primate mind can only really track 150 people. More people than that and some are able to escape notice and slack. Therefore the Mennonite colony size limit.

Communism does work. The caveat is that it works for that group size. My point is there are too many politicians to keep track of with or without a scorecard.

Half of the Brits had enough and they quit the EU. This scares the EU-crats.

I understand that there are communists in the US that walk the walk like the Mennonites. This is not a threat and does not bother me. My spouse grew up in a communist country. Obviously, I am not bothered. What does bother me is Bolsheviks. A good Bolshevik is a dead Bolshevik.

What bothers me is bad politicians. Politicians have insider information and can be worth 3 to 5 million or kore. That is tolerable. What is not tolerable is when these politicians enrich themselves with insider information, but otherwise govern poorly.

Losing reserve currency status, inflation north of 3$ or 5%, Debt going past 100% GDP, stoking racial tensions, making home ownership unaffordable or making utilities and groceries unaffordable is beyond the pale.