BYE-BYE PETRODOLLAR: 159 Countries now slated to adopt new BRICS payment system
As soon as October, Russia's long-awaited international BRICS payment system will be ready to go with some 159 countries said to be in the process of ditching the U.S. dollar as their official settlement currency.
For several years, Russia and other BRICS member nations have been working on an alternative to the Western-controlled SWIFT international settlement system. Russia was banned from SWIFT following its invasion of Ukraine, but now there is a new system emerging from BRICS that threatens to make SWIFT obsolete.
If the new payment system is a success, it will render Federal Reserve Notes (FRNs) obsolete as well. The world will no longer be held hostage by the so-called petrodollar, which reports warn could have massive global market ramifications.
The West's continued sanctions on Russia have only hastened the speed at which Russia is developing this new BRICS payment system. Its design will promote local currencies and alternative settlement methods that sidestep the U.S. dollar entirely.
As soon as October, Russia's long-awaited international BRICS payment system will be ready to go with some 159 countries said to be in the process of ditching the U.S. dollar as their official settlement currency.
For several years, Russia and other BRICS member nations have been working on an alternative to the Western-controlled SWIFT international settlement system. Russia was banned from SWIFT following its invasion of Ukraine, but now there is a new system emerging from BRICS that threatens to make SWIFT obsolete.
If the new payment system is a success, it will render Federal Reserve Notes (FRNs) obsolete as well. The world will no longer be held hostage by the so-called petrodollar, which reports warn could have massive global market ramifications.
The West's continued sanctions on Russia have only hastened the speed at which Russia is developing this new BRICS payment system. Its design will promote local currencies and alternative settlement methods that sidestep the U.S. dollar entirely.
BYE-BYE PETRODOLLAR: 159 Countries now slated to adopt new BRICS payment system – NaturalNews.com
As soon as October, Russia’s long-awaited international BRICS payment system will be ready to go with some 159 countries said to be in the process of ditching the U.S. dollar as their official settlement currency. For several years, Russia and other BRICS member nations have been working on an...
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