Most people in the West have no idea what is happening or how this is going to affect their lives. BRICS 24 taking place in Russia:
A two-day meeting of BRICS foreign ministers, which is chaired by top Russian diplomat Sergey Lavrov, began on June 10 in Nizhny Novgorod. This is the first meeting of foreign ministers after the expansion of the group in 2023.
Iran says the most important goal for BRICS is the reform of the Bretton Woods system
The US has weaponized it’s financial system for a very long time. 100 years ago, the US forced it’s former allies to the table to negotiate repayment of their debts from WWI, by threatening to ban those other country’s access to US banking and financial markets.
Steve
I have no problem with the US weaponizing the USD.
Not sure what you are on about.
Does anyone want to tell the Iranians Bretton-Woods was dissolved in the 1970s? Nah…
It is a bull crap way of the Iranians saying their leaders want the gold standard back.
Someone here is silly enough to think the gold standard is a brilliant idea.
Nah. It’s the BRICS way of saying they want a thriving blackmarket style global economic system.
That’s rather capitalistic of them, dontcha think?
ralph
Yes, I do until I see the control economies.
This leaves me scratching my head will only India win in that situation?
BRICS+ is simply an international club (with increasingly fluid membership requirements & affilitations) for playing “footsies” about trade and money. Nothing of signigicance has comeo of it besides a little attention and chance for “ever increasing affirmations of diligence in adhering to the logic of the dialectic under the tutelage of St Cyprius and Shiva” shop talk…
Can anyone even remember any past claims of accomplishment?
d fb
The financial world is changing and I cannot see how it will all fit together at the moment.
The BIS is pushing this payments system that looks like SWIFT:
I think that Saudi Arabia has just joined
It looks like SWIFT, except with none of the functionality of SWIFT.
This is like an artists’ colony discovering a nude dance club.
I think India is the best positioned to “win”.
India seems to be avoiding the “cater to US/Western international company” path that China followed.
Of course, India is already a “democracy”.
ralph