If the BRICS have launched their development bank (NDB), it is with a goal. That goal is to finance public and private projects in line with their de-dollarization plan. This bank has taken the mission to heart and recently carried out a significant bond issuance from an economic and geopolitical perspective.
The famous economic analyst Noah Smith recently wrote an exciting article about bitcoin. He mentions the recent approval of ETFs by the SEC and the secret interests of certain bitcoiners. His thesis is striking: there would be an increasingly powerful Bitcoin lobby that would act in the shadows to create monetary chaos in the world.
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.
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 have officially decided to leave the dollar. In the meantime, the question of the currency's use in settling international transactions seems to be a point of contention between the member countries. Here's what it's all about.
There's a growing chorus insinuating that the American hegemon is threatened by the BRICS. But what's really going on?