HOT: BRICS Lays Down The Law.

[Luigi1]

Here's an article of Dinarian interests...

The BRICS Summit is underway.

BRICS & Saudi Arabia urges Iraq To Abandon The USD.

Treat as a rumor.  Not verified.  Your opine.

 

 

FROM OTHER SOURCES:    The BRICS Summit Is Underway.

ARTICLE:  An International Group Discussing Reducing Dependence On The Dollar Arab & international.

South African Vice President Paul Machattel stressed the importance of the “BRICS” summit held this week in Johannesburg & revealed the main issues to be discussed.   He pointed out that representatives of the “BRICS” countries (Russia, Brazil, India, China & South Africa) will focus in today’s meeting mainly on discussing reducing the group’s dependence on the Dollar.   He stressed that “BRICS” will discuss the issue of increasing payments among its members in national currencies.

 

The 15th BRICS summit kicked off, where the summit will discuss the issue of accepting new members & developing an economic, trade & financial plan for the bloc.

South Africa, which chairs the summit this year, said more than 20 countries, including Algeria & Saudi Arabia, had applied to join the group.

 

The presidents and leaders of Brazil, China, India & South Africa will meet, while Russian President Vladimir Putin will participate via video technology in the summit held under the slogan “BRICS & Africa”.  Moscow will be represented at the event in the personal presence of Russian Foreign Minister Sergey Lavrov.  

 

In The Document.. The CBI Determines The Exchange Of The Dollar For Travel Purposes.  The CBI set the Dollar ER for banks & exchange companies authorized to sell the Dollar for cash for travel purposes.

 

[Luigi1]

Here's another article related to the above...It begins.  In an article from the Financial Times...The China Yuan will replace the USD as the global currency of choice.   This could take place as early as Jan 2024.  The USD will become officially a dead currency.

 

 

Goldilocks:    Comments & news links on the global financial system:    It begins.

ARTICLE: BRICS bank strives to reduce reliance on the Dollar.  “The development bank set up by the BRICS nations plans to begin lending in the South African & Brazilian currencies as part of a plan to reduce reliance on the Dollar & promote a more multipolar international financial system, according to its president.  We’re going to try to either do a currency swap or issue debt.  Also in rupees.”  The bank already lends in Renminbi.”

 

On the first day of the BRICS Summit, the process of trading in local currencies has begun.    Multipolarity has begun.

 

Several countries are beginning to have equal amounts of power going forward for those who join the BRICS system.  This equal amount of power will begin to erode on the Dollar because it will have to begin sharing money velocity in trade from this point forward.

 

This levels the playing field & creates a transition of power at the same time for our world.    It begins.


 

[Luigi1]

Here's another article related to the above...I got to agree with F26 on this one...

 

 

Frank26:

ARTICLE:    Corruption in Iraq is being dismantled & that’s what we need to have the new ER…they stepped on the gas…hundreds of people being arrested.   Millions & million of Dinars being brought back to Iraq.  This is all part of the monetary reform…

 

 

 

Here's Luigi's two cents worth...

All this negative news on the death of the USD may be a good thing.   The USD will still have purpose in the world, post GCR.   If anything, the BRICS Summit & Iraq possibly joining BRICS may be a very good thing.  This may help to speed up the RV-RI process & jump start the global economies.   IMHO.

 

[Luigi1]

Here's an article related to the above...the ER is of no concern...

 

Nader:   The ER.

ARTICLE:  As long as they [Iraqis] have money & they can buy & sell stuff they don’t pay attention to it [dinar RV].   That guy’s gonna have one million in his pocket or 1500 it’s gonna be the same thing.  It’s going to spend the same thing.   In the US & EU too they talk about…all over the world they talk about because they know it’s gonna happen…It’s an investment for the outsiders.   But for Iraqis it’s not an investment…Over there if we change the currency all we have to do is take that 2 millions & change them to two millions with small categories…

 

 

Luigi disagrees somewhat with Nader...here's why...

Iraqis are suffering, inflation & joblessness are running rampant.

Iraq needs this RV-RI.

Foreign imports will be cheaper as purchasing power increases.   

Iraqis need the imports to grow their economy & to diversify away from oil.

IMHO.
 

[Luigi1]

Here's another article related to the above...On Monday, Russia announced the gold backed digital Ruble retroactive to August 1st...China may already be gold backed digital as well but opts to hide it from the world...

 

 

Awake-In-3D:     Gold Backed Russia Ruble.

ARTICLE: BRICS Summit – No Gold-backed Currency Will Be Announced.

BRICS is certainly exploring an asset/gold-backed common currency monetary system to divorce it’s allied members from USD &d FIAT currency dependency.  However, all of the prognosticators claiming that BRICS will “announce” a new common currency this week will be severely disappointed. The truth is, the BRICS Alliance is far from ready to execute such a bold plan. The most we can hope for is that several new member nations will be accepted into BRICS+ block. They will potentially announce an expanded intent to conduct cross-border trade in their local currencies as well.