The BRICS summit chaired by Russia is approaching rapidly. Here is everything you need to know before this major geopolitical event.
The Russian economy is increasingly turning towards China, notably through the massive adoption of the yuan for its international trade. This significant dependence on the Chinese currency, a direct consequence of Russia's exclusion from the global financial system, further intrigues Beijing, which seeks to strengthen its global influence and avoid Western reprisals.
There are countries where people are forced to use a CBDC, and others, like Norway, where it is legally required to accept cash.
The dominance of the dollar as the benchmark currency in international exchanges is today more questioned than ever. As geopolitical tensions and American economic sanctions multiply, several emerging powers are organizing to reduce their dependence on the greenback. It is in this context that Sergey LAVROV, the Russian Foreign Minister, and Donald TRUMP, the former President of the United States, find common ground in their criticisms of current policies. According to them, the systematic use of the dollar as a sanction tool undermines not only the American economy but also the position of the dollar on the international stage.
The adoption of cryptocurrencies has just reached a historic milestone in the United States. Indeed, the state of Louisiana has announced that it now officially accepts Bitcoin and other cryptocurrencies as means of payment for its public services. In a context where governments are still hesitant to regulate these assets, this bold decision places Louisiana at the forefront of pioneering states in integrating cryptocurrencies into public administration.
The global financial system is currently undergoing numerous changes. As economic sanctions multiply, particularly from the United States and the European Union, many emerging economies are seeking alternatives to free themselves from the dominance of the dollar and the euro. In response, the BRICS countries (Brazil, Russia, India, China, South Africa) have begun the creation of an alternative payment platform. This initiative, confirmed by Russian Foreign Minister Sergey LAVROV, would facilitate trade and investments without relying on Western currencies.
When 134 countries play sorcerer's apprentices with CBDCs, it is 98% of the global economy that enters a zone of digital turbulence.
The global monetary landscape is undergoing significant changes. As the influence of the US dollar falters under the weight of geopolitical tensions and aggressive economic policies, the BRICS are poised to redefine the rules of the game. They are working to launch a new reserve currency, an ambitious project that could shake the supremacy of the greenback and reshuffle the cards of international finance. In the face of the impact of economic sanctions, trade wars, and a perceived excessive dependence on the dollar, these emerging powers are coming together to assert their economic sovereignty. However, this new currency, envisioned as a direct alternative to the US-dominated financial system, raises as many hopes as it does doubts.
As China increasingly reveals its totalitarian face, Donald Trump and Kamala Harris raise serious concerns about their ability to defend Western interests against Beijing. Are they about to capitulate to Xi Jinping and abandon Taiwan?
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The internationalization of the yuan is progressing much faster than the figures from the Swift organization suggest. Bitcoin is lying in wait.
Since 2013, China has been pursuing a policy of plundering the African continent through the usurious and nearly mafia-like system of the Silk Roads.
The global financial system is on the brink of a major upheaval. The BRICS bloc is planning to create an independent payment system to facilitate cross-border transactions among its members. This initiative aims to reduce their dependence on the US dollar by integrating local currencies for trade exchanges.
As international tensions and economic fluctuations shape the daily reality of global markets, French motorists are witnessing a surprising development: the price of diesel, the primary fuel of the roads in France, has reached its lowest level in over a year. In a context where inflation erodes purchasing power and every penny counts, this unexpected drop is a ray of hope for millions of consumers. But behind this apparent decrease, what economic mechanisms are at work? Which global factors influence pump prices, and above all, how long might this respite last?
Discover the new MetaMask card that simplifies spending in crypto for secure and fast daily purchases.
India and the Emirates reportedly settled an oil transaction in XRP instead of the dollar. A worrying signal for the dollar's hegemony?
While the global economic order has long been shaped by the hegemony of the US dollar, signs of an inevitable transition are multiplying. Today, a new milestone has been reached: for the first time in decades, the dollar's share of global reserves has fallen below 60%. This decline, far from being trivial, reflects profound changes driven by emerging economies, particularly the members of the BRICS bloc, who seek to redefine the rules of the global financial game. As central banks in developing countries turn away from the dollar to favor gold and their local currencies, a new monetary order may be taking shape.
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Google and Amazon are showing a marked interest in the CBDC project of one of the leading BRICS nations. By partnering with the Reserve Bank of India, these tech giants aim to integrate the e-rupee, a digital version of the Indian currency, into their payment platforms. This initiative, beyond just a simple technological expansion, represents a significant advance for the BRICS ambitions to reduce dependence on the US dollar and to strengthen their overall economic influence.
In July, the US dollar deals a heavy blow to the currencies of BRICS member countries. Despite these nations' efforts to reduce their dependence on the dollar, it continues to strengthen.
Not content with drastically limiting how Iraq can spend its dollar reserves, the Fed now forbids it from using the yuan. When will it be bitcoin?
The decline of cash and ATMs in France paves the way for cryptocurrencies, despite the ECB's ambitions with the digital euro.
Russia warns that the dollar monopoly must end. Bitcoin is becoming an obvious choice, even for Trump...
The Russian president is closely interested in all alternative payment systems. Including CBDC and Bitcoin.
The international monetary system is in turmoil. The BRICS are exploring various avenues with varying degrees of success.
The Indian Prime Minister traveled to Moscow to address the issue of the Indian trade deficit.
Saudi Arabia threatens to sell European debt in case of seizure of Russian reserves.
The 2024 Shanghai Cooperation Organization (SCO) summit witnessed major geopolitical tensions. In a move that could redefine dynamics of international trade, India has officially rejected China's proposal to replace the US dollar with the yuan for trade. This decision marks a significant turning point in relations among BRICS members. India's firm stance reflects not only its economic concerns but also a growing distrust toward China's global ambitions.