The BRICS trade and economic partnership group is made up of Brazil, Russia, India, China and South Africa {GO DEEP}. The alliance was originated in part to explore alternatives to the dollar as a global trade currency. They discussed several options in their prior meetings long before Russia took action into Ukraine.
With western sanctions against Russia now in place, there are increasing reports that China and India have developed alternatives. This is one such example:
(Via LiveMint) – Russia, many of whose banks have been cut off from the Swift financial network, is exploring opening alternative payment channels with India, including linking Unified Payments Interface (UPI) with the Faster Payments System (FPS) of the Bank of Russia, to continue cross-border trade.
According to Dmitry A. Solodov, a spokesperson for the Russian embassy in New Delhi, his government has also asked Indian lenders to connect to the financial messaging system of the Bank of Russia to facilitate interbank transactions. In addition, the two sides are discussing accepting RuPay and MIR Cards within national payment infrastructures, Solodov said in an emailed statement.
“All these options are on the table and are being discussed by the two governments, the Reserve Bank of India and the Bank of Russia,” said a senior Indian government official, requesting anonymity. (read more)
This might just be a path to break the back of the Globalists – Especially those whose lair is in Brussels and NYC.
If it breaks the back of the middle classes of Western Civilization, they’re OK with it. Because they’re buying up as much land and hard assets as they can, and when the inevitable crash comes they will have stuff and the middle class will have paper.
precious metals and related equities make up less than one half of one percent of the portfolios of the “advanced” countries of the world. another reason that the late developments on the world stage will help the “developing” world at the relative expense of their current economic betters.
from the beginning of written history to the discovery of fossil fuels and the invention of the steam engine, china had the highest per capita income, most of the time.
mean reversion.
This is precisely what happened after WwI and Germany because of the Versailles Treaty. The crushing blows of this treaty cause many German’s To starve as their money became worthless. Those with international connections were able to borrow and buy up real estate, businesses, etc while others starved. This in large part lead to the Germans starting another war after Hitler gained power.
They can buy up all they want, the question is, can they keep it?
Billy Bob Gates may own hundreds of thousands of acres of farmland…but who is going to farm it? Will his “money” be worth anything? And if 1000 people moved in and squatted, will he have the private army to send them off?
In the world we are heading towards, ownership will be an anachronism even for the elites
The idiots in DC have stolen so many dollars, and so many cronies are sitting on stolen dollars. When the dollar is worthless so will be our pols to their friends. That is the silver lining.
speaking of which, got silver (and platinum) miners?
More paper…
I am not the originator of this thought – knowing what you know about President Trump, do you really believe he would do what he did as President – only to abandon us now?
This from his rally:
““It’s time to protect our own sovereignty. It’s time to save our own nation from the people who are trying to destroy it. The people controlling Biden, Pelosi and the others.”– President Donald Trump
This was a Key reveal and a very important statement. Trump is speaking about the globalist here within our own country and breaking free from them! Remember when he called them the “invisible enemy”. Now he is directly speaking to them! Look how far we’ve come Patriots!”
more excerpts from the last rally
https://diannemarshallreport.com/trump-said-tonight-its-time/
I am loving these Marshall Report links, I feel encouraged after reading.
Thanks for posting.
Demo☭rats want to burn the middle and working class with Massive Inflation.
Then they “numb the pain” with $000s in Monthly Inflation-Fighting Checks to “America’s Workers” that UniParty RINOs will pass, because it’s “heartless” not to.
The Checks end in December and won’t be renewed unless the UniParty that funded them is reelected.
Can we kick out all the un-needed fraudulent H1-visa workers from India who took jobs from Americans yet????? They are NOT better-trained than US workers or our grads. They just work cheap and live 7 to a room in San Jose and San Francisco.
They will be moving back to India as that is where the jobs and growth will be.
If you feel like taking a gamble, put some money in Rubles and park it.
I honestly will not be surprised if comes 2 years from now you make 30x or more in return.
There you go, folks. The nation takes another notch downward thanks to the Bumbler-in-Chief. But no mean tweets, right?
Video–Part 2: The New CPI and “The End of the Dollar Empire”
https://warroom.org/2022/03/15/phillip-patrick-talks-about-growing-risks-to-the-economy/
Here is another:
Russian banks turn to China as Visa, Mastercard suspend businessBY
BLOOMBERG
Updated March 7, 2022 10:54 AM CST
https://fortune.com/2022/03/06/russian-banks-turn-to-china-as-visa-mastercard-suspend-business/
And as a reward, we need to grant more H1B visas so we can lower wages here while becoming more dependent on a potential adversary, just like profit seeking non-patriots have already done with China.
Especially since a great many of these trades are futures trades – contracting to buy so-much oil at a set-price so-many months in the future – inflation and deliberate currency manipulation are disastrous business risks. Both of which are now commonplace with the US Dollar.
Traders should have a millisecond-by-millisecond competing choice as to which currency(ies) they will use, and which “bourse” will process the transaction. It should always have been this way. Consumers pay a lot of money needlessly because it isn’t. Change is inevitable, and positive.
P.S.: To me, this isn’t just about “sanctions” nor any other short-term political move – this is business. We now have all of the secure technology and infrastructure to implement all of these alternatives, and to set them in competition with one another to the betterment of all. You will pay less at the store for everything that is imported, and especially for fuel (both foreign and domestic) when this has been done.
If a trading system (or a currency-issuing national government) is taking unfair advantage of a trader, the party who ultimately pays the price is you. The traders should be empowered to “vote with their feet” to secure the best deal.
India appears to be about business regardless of what Claus Schwab or Joe Biden have to say, eg, they’ve been an easy, key source for ivermectin and hydroxychloroquine, professional, inexpensive and no prescription.
So long, World Reserve Currency status!
Hello, George Washington toilet tissue and Abe Lincoln wallpaper….. 🙁
Remember “Sound As A Pound?”
Well, just look at (formerly) Great Britain today!
Joe Biden’s foreign policy actions have driven China and Russia together, and is now further isolating America from key trading and strategic partners. The American multinationals, who gleefully sold out America with the blessing of Bush’s, Clinton’s, and Obama, and moved operations into China and India have to be feeling good- things have come full circle it seems.
Which is worse? Either the Congress and the President knew or did not know the outcome of the 1980s tax law changes they enacted doing away with accelerated depreciation. The inevitable consequences collapsed commercial real estate values and destroyed the Savings and Loan industry. Today, the Putin invasion is setting up the collapse of the Dollar as the Reserve Currency. BRICS, OPEC even France have wanted this for years, “The US is a parasite on the world’s economy,” said Vladimir Putin. Because it looks like the US/NATO/Ukrainian cabal could have easily appeased Putin earlier – this all looks like a set-up. Plot or incompetence…which is worse? In any event Biden is a Loser for America.
If you stare straight at the currency manipulation and gross inflation of the US Dollar which is brought about directly by the actions of the American government … can you, as a businessman, seriously say that Putin is wrong in his assessment? 🤷♂️
In just the last few months, the US Congress has conjured trillions of new US Dollars right out of its a*shole and dumped that money into circulation. Of course, every nation engages in these practices to some extent, as it is their sovereign right to do so, but nothing like the Americans do.
Most of these contracts are futures contracts, which are disastrously susceptible to these things.
As far as “appeasing Putin” goes, I think that he tried to talk, tried to negotiate, for far too long. And he was lied to by diplomats at every turn. When he finally decided to make a military move, he announced his exact intentions and you can plainly see that he has followed them. He’s going to achieve in a few weeks what years of “talking” never did.
America has yet again proven to be a two faced liar led by a group of sociopathic war mongers that were installed via a coup. Who can blame any of these countries for looking for a more stable alternative that Putin is offering? The US is Babylon, time to leave her.
Anyone believing eastern Ukraine is the goal here has no clue.