Conversation

Notices

1. Embed this notice
   Τρομοκρατιστής ✭ (tromo@kafeneio.social)'s status on Sunday, 20-Oct-2024 04:25:51 JST Τρομοκρατιστής ✭

   BRICS to discuss new global financial system – Reuters

   An alternative scheme developed by Moscow will reportedly work around dollar transactions in international payment operations

   • Embed this notice
     Crispy Branzino (nimbius666@comp.lain.la)'s status on Sunday, 20-Oct-2024 04:25:48 JST Crispy Branzino

     in reply to
     @tromo BNN Bloomberg reports in 2024: The reserve status of the dollar is declining more rapidly than commonly acknowledged, with numerous analysts overlooking the significant exchange rate fluctuations from the previous year. The global share of the greenback in reserves decreased last year at a rate ten times faster than the average speed observed over the past twenty years, as several nations sought alternative options following the sanctions imposed due to Russia's invasion of Ukraine. Accounting for exchange rate adjustments, the dollar has experienced an approximate 11% decrease in market share since 2016, doubling that figure since 2008.
   • Embed this notice
     Τρομοκρατιστής ✭ (tromo@kafeneio.social)'s status on Sunday, 20-Oct-2024 04:25:49 JST Τρομοκρατιστής ✭

     in reply to

     • Crispy Branzino

     @Nimbius666 "Russia is to present its project for a new international financial system to fellow BRICS nations..
     The system to be proposed is believed to be immune to Western sanctions and could put an end to US dollar dominance in international exchanges and transactions, the news agency said. According to the report, the new payment platform is based on blockchain technology and uses digital tokens backed by the national currencies of participating countries."

     Doughnut Lollipop 【記録係】:blobfoxgooglymlem: repeated this.
   • Embed this notice
     Crispy Branzino (nimbius666@comp.lain.la)'s status on Sunday, 20-Oct-2024 04:25:50 JST Crispy Branzino

     in reply to
     @tromo BRICS is a 150 member powerhouse of the global south. Its focused on trade, culture, education and development. The closest thing the US has is build back global. Its 15 members.