Bold

<p>The stage is set for a major shift in global economic dynamics, and right at the center of this potential seismic change is the BRICS bloc, with the <a href="https://www.cryptopolitan.com/half-of-us-in-recession-dollars-depreciation/" data-type="post" data-id="501206" rel="noopener noreferrer nofollow">U.S.</a> keeping an unwavering gaze on every move. The chessboard of international trade and finance is getting a vigorous reshuffle, courtesy of Russia’s active push for countries, particularly in Africa and the Middle East, to ditch the US dollar in favor of local currencies and, more pointedly, the Russian Ruble. This isn’t just a casual suggestion; it’s a strategic maneuver aimed at reshaping how the world interacts financially.<a href="https://watcher.guru/news/brics-ready-to-work-with-all-countries-to-ditch-us-dollar#google_vignette" rel="noopener noreferrer nofollow" target="_blank"> </a></p>
<h2 class="wp-block-heading" id="a-bold-push-for-de-dollarization">A Bold Push for De-Dollarization</h2>
<p>The heart of the matter beats in Russia’s aggressive stance on de-dollarization. Picture this: the Russian President, not just whispering but loudly advocating for African nations to embrace their own currencies for trade dealings. This is not merely a call for financial independence; it’s a strategic play to weave a new financial tapestry, positioning the Ruble as a central thread. The allure of this proposition for Africa? A promise of a financial infrastructure that stands on its own, free from the constraints and influences of Western financial systems.</p>
<p>This narrative isn’t isolated. The BRICS bloc, a powerhouse consisting of emerging economies, is echoing this sentiment across the developing world. Their proposition is tantalizing – a new financial era, one where the US dollar’s stronghold on global trade loosens, giving way to a more diversified and equitable financial ecosystem.</p>
<p>The Russian leader’s message is clear: BRICS stands ready, arms open, to assist Africa in sidestepping the US dollar. The mechanics of this include linking African financial institutions to a Russian-created financial messaging system, a move that promises a breakaway from Western financial networks that currently dictate the terms of cross-border transactions.</p>
<p>And the timing? It’s all eyes on the upcoming BRICS summit in Russia’s Kazan region, slated for October. This gathering is not just another diplomatic meet-and-greet; it’s a pivotal moment that could mark the beginning of a new chapter in global finance.</p>
<h2 class="wp-block-heading" id="shifting-sands-in-the-middle-east-and-beyond">Shifting Sands in the Middle East and Beyond</h2>
<p>Venturing beyond Africa, the BRICS strategy sets its sights on the Middle East, urging a bold pivot from the US dollar, especially in oil transactions. This isn’t just economic advice; it’s a counter-strike against the economic sanctions imposed by the US, following Russia’s contentious actions in Ukraine. The message from the Russian President to oil-rich nations is unambiguous – abandoning the US dollar could potentially dethrone it from its global dominance, particularly in the oil and gas sector.</p>
<p>The strategic inclusion of oil-producing countries into the BRICS fold last year was no mere coincidence. It was a calculated move to advance the de-dollarization agenda, aiming to shift the oil trade’s currency allegiance. However, the dynamics are intricate, with key players like Saudi Arabia still mulling over their BRICS membership, indicating a cautious approach to this monumental financial pivot.</p>
<p>The BRICS bloc is not just stopping at encouraging a move away from the US dollar; it’s ambitiously working on introducing a new currency for international trade among its members. This isn’t just about creating an alternative; it’s about establishing a financial ecosystem where member countries’ currencies gain prominence, challenging the hegemony of the US dollar.</p>
<p>The undercurrents of this shift are profound. The looming $34.4 trillion US debt is casting a long shadow over developing economies, prompting a strategic accumulation of gold over US dollar reserves. This movement is underscored by the fact that BRICS countries are among the largest gold purchasers, a clear signal of their intent to fortify their economies against the vulnerabilities of the US dollar.</p>

U.S. has been keeping a close eye on BRICS and its plans

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Altri articoli pubblicati su 25 mar 2024

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