BRICS

The possibility of a common currency for the BRICS has been making headlines for several months. The latest news is that three out of the five member countries of the organization are particularly ready for the realization of this revolutionary monetary option from a geopolitical point of view. Here's which ones.

The BRICS do not skimp on the implementation of their strategy to escape the economic domination of the US dollar. The alliance's monetary projects are attracting attention, especially the massive funds they are injecting to acquire significant amounts of gold.

The American bank JP Morgan believes that the Chinese yuan could take over the crown of hegemony in the financial markets from the dollar. In 2023, the currency of the Middle Kingdom has continued to gain importance. This situation benefits the BRICS, of which China is one of the most influential members.

Iran has recently called on the BRICS to establish a common currency to replace the dollar. This challenge to the dollar by Iran, but also increasingly by Saudi Arabia, explains why the Americans want to put an end to the Iranian regime. The end of the petrodollar would no longer allow the United States to finance its monstrous deficits through other countries.

During their recent summit, the BRICS offered a number of countries to join the organization. These countries are Saudi Arabia, the United Arab Emirates (UAE), Iran, Egypt, Ethiopia, and Argentina. The latter declined the offer. The five others, however, officially accepted the proposal.

The United States finds itself at a strategic crossroads today. Despite the increasing power of China and the BRICS, the military potential of the United States is declining. As military conflicts multiply around the world, are we witnessing the end of American military superpower and the death of liberal democracy?

The BRICS have co-opted several countries this year. A historic geopolitical moment that is expected to continue in 2024. An official from the group of countries revealed that six new countries will join the organization next year.

Saudi Arabia, like some other Gulf countries including the United Arab Emirates (UAE), has recently been allowed to join the BRICS. With one of its influential members, Russia, the Saudi Kingdom has discussed strategic issues, including the exit from the dollar. But not only that.

While Chinese growth is faltering, Beijing is not hesitating to open the floodgates of fiscal and monetary stimulus in order to try to boost its battered economy. With credit easing, early distribution of local borrowing quotas, and massive issuance of government bonds, the Middle Kingdom is multiplying unprecedented expansionary measures. Objective: to regain vigorous growth by 2024.

Is the trend towards de-dollarization exaggerated? Is the petrodollar system coming to an end? Will the BRICS go all the way?

The BRICS countries want to get rid of the influence of the US dollar. This is a high-stakes issue for this group of countries, especially for Russia, which is facing a series of financial measures taken by the West in response to the invasion of Ukraine. It seems that the country is maneuvering to overcome these sanctions. And it is apparently succeeding as the Russian currency, the ruble, has surpassed the dollar in the foreign exchange market.

China's hegemonic ambitions in the economic sphere have been well-known. The desire of the Asian giant and its BRICS partners to move away from the dollar is essentially an expression of this ambition. This ambition has recently seen progress involving the euro, the currency used in the European area.

Today, within the Eurasian Economic Union, economic transactions are settled with national currencies, which are increasingly overshadowing the dollar. Most economic exchanges involving Russia are now conducted in rubles. The euro and the dollar are undergoing displacement. This transformation in the global financial landscape cannot go unnoticed. The possibility of a common commercial currency emerging within the BRICS is back at the center of discussions. In a recent interview, Russian economist and politician Sergei Glaziev dropped a bombshell: a common BRICS currency is inevitable. Details.

In a sector where crypto is upending traditional financial paradigms, India is emerging as a revolutionary leader, leading the BRICS in a bold turn at the heart of the G20. This transformation, epitomized by the G20's keen interest in the crypto roadmap proposed by the IMF and FSB, is just the premise of a radically reimagined economic future. Let's dive into the heart of this epic where crypto intertwines with global politics, finance and a futuristic vision embodied by India.

China is one of the United States' fiercest competitors for global hegemony. At least in economic terms. To achieve this, the country seems to be pursuing a strategy of limiting or even reducing its investments in the United States. Saudi Arabia, which has just joined the BRICS, also seems to be doing the same, further confirming its plans to leave the dollar behind.

Recently, no fewer than 6 countries joined the BRICS in what is now known as BRICS+. Although the organization has rejected the membership applications of some countries, it seems to be calling on others to join. Such is the case of Indonesia.

The BRICS want to get rid of the dollar's influence in international transactions. The organization reaffirmed this objective at its recent summit in South Africa. As the group's currency strategy is gradually unveiled, we learn that Ripple's XRP could contribute to this dynamic.

There's a growing chorus insinuating that the American hegemon is threatened by the BRICS. But what's really going on?

The 15th BRICS summit ended on Thursday, August 24, with some big news. That of the creation of BRICS+. An expanded version of the organization's membership. Members that include some of the world's biggest crude oil suppliers. Global geopolitics are potentially no longer the same.

Avec plus de 40 % de la population mondiale et près de 26 % de l’économie mondiale, les BRICS s’affirment de plus en plus comme une puissance émergente au point de concurrencer les grands groupes comme le G7. Ce regroupement de pays émergents a le vent en poupe et enregistre de nombreuses demandes d’adhésion. Ces demandes risquent de ne pas être acceptées de sitôt, car le Brésil serait contre l’expansion du groupe, selon certaines sources.

It's a done deal. China now uses the yuan more than the dollar in its international trade. A requiem for the imperial currency.

Inflation has been galloping for almost two years, mainly due to the profligacy of central banks. Since then, central banks have turned around and become a little more vigilant. Nevertheless, they face a colossal dilemma: the peril of debt or the peril of inflation. It's reasonable to assume that central banks will react this time, as they have every other time: by rearming their monetary bazooka. If so, it could well be the return of happy days for bitcoiners. Let's talk bull run.

The BRICS nations have great ambitions for the global financial system. They have already announced plans to create a common currency for the organization's members. But their project goes beyond monetary issues. They want to counterbalance global geopolitics, and the initiative is of interest to many countries around the globe.