Gee, if you take out Russia, India and China from BRICS
that leaves . . . . (checks notes) . . . the BS currency, doesn’t it?
I guess the anti-Western fever dreams are dead.
CoinTribune:
BRICS Rift Grows as India Refuses Dedollarization
Forbes:
‘De-Dollarization Is Certainly Not Our Objective’—India Says After Trump’s 100% Tariff Threat Over BRICS Currency
The Guardian:
Leaders of Russia and China snub Brics summit in sign group’s value may be waning
Metaverse dead.
Monkey Jpegs dead
100’s of baby cryptos, dead
dozens of meme stocks, dead
.
.
.
looks like BRICS is next.
looks like the bubble is popping.
Putin and Xi are not going to the summit, but the Russian Foreign Minister and Chinese Premier are going. Given the multiple assassinations of leaders viewed as enemies by western governments and their allies, it is hardly surprising that neither Xi nor Putin would want to take a long trip to Brazil.
As far as India’s comments about the dollar, they echo Putin’s talking points from a conference in Russia last year:
Russia is not behind the emerging global trend towards dropping the US dollar in trade, President Vladimir Putin told the Eastern Economic Forum in Vladivostok on Thursday.
The event is being attended by members of the BRICS economic bloc, including India and China – both of which are actively using national currencies to settle transactions with Russia.
However, Moscow is not pursuing a “policy of de-dollarization,” Putin said during a plenary session at the forum. . . ”Russia did not refuse to settle transactions in dollars, rather it was refused this option,” said Putin.
Russia not to blame for diminishing role of dollar – Putin — RT Russia & Former Soviet Union
Sanctions from the US and the EU severely restricted use of financial systems that use dollars and have resulted in the confiscation of foreign currency reserves in dollars.
If Trump really wants the rest world to continue use dollars, then he should end efforts to use the dollar as a weapon of war.
This is the very reason that I am surprised that an alternate to the dollar hasn’t already materialized.
BRICS was a joke from the start. You’ve got one worthless currency (Ruble) with one overly manipulated currency (Yuan) mixed with nonsense out of South Africa. Only currency worth anything was the Indian currency and they never went all in.
