‘Bombshell’ BRICS Payments Platform To Ditch US Dollar Gaining Support From Central Banks, Finance Ministries: Report

https://dailyhodl.com ^ | August 18, 2024 Financeflux | Alex Richardson

[RomanSoldier19]

Central banks and finance ministries of all BRICS nations are discussing the launch of a new payments platform that would circumvent the US dollar, according to a new report.

According to Russian government-backed media publication Tass, Russia’s Federation Council Speaker Valentina Matviyenko told a press conference that a standalone payment system dubbed the “BRICS Bridge” is gaining support.

[RomanSoldier19]

[butlerweave]

If these countries don’t want US dollars the US should stop giving them Aid

[devere]

The BRICS nations are an association of scorpions who don’t trust each other. I predict they will get nowhere.

[wastedyears]

Good, I hope they succeed.

[srmanuel]

I wonder how long it takes for some enterprising hacker to tap into that system or somehow makes come it’s knees

I’m sure the NSA has people already working on it

[ducttape45]

Let's all not forget that all this was brought about by OBiden leveling sanctions against Russia. If he hadn't done that, this probably wouldn't be happening.

I fear for our country if this happens. I was just in the store (Walmart) and a 1lb roll of ground beef was almost $8.00. Imagine what will happen if the US dollar is ditched overseas. Inflation on steriods. We're BLEEPED.

[wildcard_redneck]

"If these countries don’t want US dollars the US should stop giving them Aid."

Is that the only reason? I don't think so. Cut them all off.

[wastedyears]

We shouldn’t be giving anyone any “aid.”

[CFW]

So is that why the dollar is at an 8 month low today? It’s currently at 101.10.

[sockmonkey]

The BRICS countries overtook the G7 countries share of the world’s total gross domestic product (GDP) in terms of purchasing power parity (PPP) in 2018. By 2024, the difference had increased even further, the BRICS now holding a total 35 percent of the world’s GDP compared to 30 percent held by the G7 countries.

[silverleaf]

BRICS nations now control about what, 70% of the world’s natural resources? Half the world’s population?

[Vermont Lt]

And as soon as these countries can dump the yuan, rubble, or rupee…they will convert them to gold or dollars.

[Vermont Lt]

For internal things like ground beef, the price wont be THAT affected. For anything imported, the price will skyrocket.

[Tom Tetroxide]

Gotta love de-dollarization and all of those dollars flooding back to the US since 2001 higher and higher prices for everyting!

[Vermont Lt]

It’s the yen carry trade.

[RomanSoldier19]

[sockmonkey]

Have you watched the price of gold? The countries buying it?

[adorno]

I was just in the store (Walmart) and a 1lb roll of ground beef was almost $8.00.

Inflation is a worldwide problem, and it's also not a problem that discriminates only against the dollar; BRIC countries also experience the same inflation.

BRIC is just an anti-America play. The dollar will remain the standard currency for trading for most countries. Last I looked, it was used for about 63% of trades. BRIC is nowhere close.

[PGR88]

The BRICS nations are an association of scorpions who don’t trust each other.

They don't need to. That's why it will likely be based on gold and silver. Politicians can't print or fake that.

Besides, they trust the US Federal Government even less, which is motivating all this.

[wastedyears]

If we stopped simply giving money to every other country on the planet, we’d be in a much better position.