What BRICS Just Announced Is Set To Transform The Entire Global Order - And It's Changing EVERYTHING

What BRICS Just Announced Is Set To Transform The Entire Global Order - And It's Changing EVERYTHING

August 21, 2024

Tech Revolution

The REALLY Great Reset Is Here! What BRICS Just Announced Is About To Change Everything Forever! Today, we’re diving into some super exciting news from the BRICS nations... Brazil, Russia, India, China, and South Africa, that could totally shake up the global economy.

We’ll talk about their new payment system that’s set to challenge the US dollar and what that could mean for how countries trade with each other. Plus, there’s some buzz about new members joining the club that you won’t want to miss! And let’s not forget the cool tech they’re looking at to make all this happen. It’s like they’re gearing up for a financial revolution!

We’re about to explore how these bold moves from BRICS could empower nations and change the game for global finance in ways you might not expect!

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The BRICS nations—Brazil, Russia, India, China, and South Africa—are shaking things up in a big way. They’re working on a new payment system that could change the game for global finance. With the dollar reigning supreme for decades, BRICS is on a mission to create alternatives that empower its members and challenge Western dominance. Imagine a world where countries can trade without worrying about the US dollar. Sounds appealing, right? That’s exactly what BRICS is aiming for with its new payment system.

The idea is to build a robust alternative to the SWIFT network, which has long been the go-to for international transactions. Elvira Nabiullina, the Governor of Russia’s Central Bank, recently highlighted that this system will allow member nations to settle payments directly in their own currencies, bypassing the dollar altogether. And guess what? The interest is huge! Over 159 countries are showing enthusiasm to join this new system, which is set to launch in October 2024. That’s a lot of nations ready to break free from dollar dependency! This initiative will be a hot topic at the upcoming BRICS Summit in Kazan, where leaders will finalize the details. It’s exciting to think about how this could reshape trade dynamics globally.

Now, let’s talk tech. The BRICS payment system isn’t just a pipe dream; it’s backed by real infrastructure. Russia’s System for Transmitting Financial Messages (SPFS) is already operational and will play a crucial role in facilitating these transactions. This means that when the system goes live, it’ll be ready to hit the ground running. Talk about a well-prepared launch! Ever wonder why some countries are so keen to ditch the dollar? Well, it’s all about recent events shaking things up! After the sanctions on Russia following its conflict with Ukraine, a lot of countries realized just how vulnerable they are when tied to the dollar. It’s like a big wake-up call, making them think, “Hey, we need to protect our economies from outside pressures!”

For BRICS, boosting financial independence is super important. By trading in their own currencies, these nations can cut back on their dollar dependence and strengthen their economic bonds. Take the recent currency swap between China and Russia, for example—it really shows they’re serious about this shift. It’s all about building a stronger, more resilient economic environment for themselves! Let’s talk about the New Development Bank (NDB)—it’s a pretty exciting part of the BRICS story! Established back in 2015, the NDB is all about funding infrastructure and sustainable development projects in BRICS countries. And guess what? With new members like Bangladesh and Egypt hopping on board, it’s shaping up to be a powerful alternative to those traditional Western financial institutions. Just imagine the possibilities when these countries team up to support each other’s growth!

Speaking of new members, BRICS is really on a roll! Over 30 countries are keen to join the alliance, including Serbia, Nigeria, and Malaysia. It’s like a club that’s gaining popularity by the minute! This expansion shows that more and more nations see BRICS as a solid counterbalance to Western economic influence. The more diverse the membership, the stronger their collective voice becomes in global affairs.

Original: https://youtu.be/VZU_escw1oo

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