Will A New BRICS Currency Kick Off The GCR.

[Luigi1]

Here's an article of Dinarian interests...

BRICS are developing a new currency to topple the USD.

Will this event kick off the GCR.

Treat as a rumor.  Not verified.  Your opine.

 

 

From Other Sources:                       BRICS NEW REPORT: A Common Currency, New BRICS AI Center, New Members.  Everything Changes Forever.

ARTICLE:  In the intricate landscape of global geopolitics, the seeds of BRICS were sown back in 2001, yet it wasn't until 2009 that this powerhouse coalition officially solidified its presence with the inclusion of Brazil, Russia, India & China.

 

South Africa added its weighty influence to the mix in 2010. Even before the recent expansion, these formidable nations collectively wielded significant economic clout, accounting for approximately 26% of the world's wealth & boasting a population share of nearly 41% by 2023.

 

Fast forward to a pivotal moment in South Africa, where the BRICS summit of 2023 set the stage for a monumental shift.

Amidst deliberations, a bold decision emerged: to extend invitations to five new nations to join the BRICS fraternity. Among the chosen were Egypt, Ethiopia, Iran, Saudi Arabia & the United Arab Emirates. Argentina, too, received a coveted invitation, though regrettably declined under the helm of its new leadership.

 

At the heart of the discourse during the initial rendezvous in South Africa was Iran's fervent advocacy for advancing discussions on banking & payments, with particular emphasis on the realm of digital currency.

 

Notably, BRICS found itself in the unique position of hosting both Russia & Iran, nations grappling with Western sanctions, thus amplifying the discourse around alternative payment systems.

 

 The notion of a common digital currency among BRICS nations had been circulating within diplomatic circles for some time. While the idea had been somewhat downplayed during the previous summit in August, with a preference for leveraging local currencies in trade transactions over the ubiquitous USD, Iran's advocacy hinted at a potential resurrection of the common currency dialogue.

 

However, Russia, assuming the role of BRICS chair, had expressed reservations regarding the feasibility of such a unified currency system prior to the expansion. With an influx of interest from 20 to 30 prospective member states & existing BRICS constituents eager to broaden the coalition's reach, the prospect of transformative change looms large on the horizon.

 

Delving deeper into the realm of trade dynamics, Mehdi Safari, the Iranian Deputy Foreign Minister entrusted with economic affairs & the nation's BRICS Sherpa, articulated a vision for a paradigm shift towards the utilization of national currencies within BRICS.

Anticipating positive strides in key economic and financial domains, Safari underscored Iran's proactive stance in engaging with BRICS initiatives throughout the year.

 

Meanwhile, Egypt, newly inducted into the BRICS fold, expressed a fervent desire to fortify ties with existing members, recognizing the potential for mutually beneficial collaboration.

 

Hala al-Said, the Planning Minister, unveiled plans to bolster trade volumes, a sentiment echoed in discussions with Dilma Rousseff, President of the New Development Bank, aimed at augmenting cooperation between BRICS & the NDB.

 

Against this backdrop of burgeoning economic interdependence, Egypt's accession to BRICS heralds a strategic maneuver to alleviate its chronic foreign currency shortages, charting a course towards reduced reliance on USD transactions & an influx of fresh investments, albeit with a recognition that tangible benefits may materialize gradually over time.

 

Beyond economic imperatives, BRICS aspires to wield influence on the global political stage, challenging the prevailing Western-dominated order epitomized by institutions like the World Bank & the IMF.

[coorslite21]

The Euro was a failed experiment on having a common currency for that region..  I doubt BRICS will make the same mistake....

CL