[aMorePerfectUnion]

Couldn’t disagree more.

What is emerging isn’t an instantly developed financial system, but a realignment against the west.

No tree is chopped down with just one blow of the axe.

It will not instantly and universally replace the dollar as reserve currency, nor the west’s SWIFT and banking system.

It is never the less causing realignment, and shifting the settlement of trade into currencies other than the dollar.

Every month there is additional interest and movement toward BRICs alignment and a growing shift from using the dollar exclusively.

I find it significant that there is a division between the western high debt financial states and the commodity rich states. This particularly so at the end of a debt super cycle and a shift from public to privately owned assets.

This is obviously simply my observation and opinion and may prove wrong or not.

Best.

[buwaya]

China also has a high debt-gdp ratio.
Since China is the 500-lb gorilla in BRICS this does not make for a clear advantage.

[Cronos]

I wrote in post #33

BRICS are all talk, little action. The actions that they have taken are, laughable:
1. The New Development Bank (NDB), also called the BRICS Development Bank was created as an alternative to the World Bank.
The few loans that the NDB actually gave out have by the way been in … US Dollars as currency.

2. They had meetings to talk about an alternative to the dollar, but no way is India going to take the yuan, leave alone the rouble, as an alternative.

3. India has more tariffs and legal bans on Chinese trade than the USA and European countries have put on China - combined.

you are talking about "a re-alignment against the west" -- this has been talked about for some time and it's not happening. The reason is that China and India have their own views of a multipolar work

The dollar will ultimately be "replaced" but it won't be by the "BRICS" but rather by a bunch of different currencies?

As to "every month there is additional interest and movement..." - that's purely in the reporter's heads. There are no actions because they don't have anything in common

finally, you state "western high debat financial states and commodity rich states"

-- lots of non-western countries are both financial and high debt states