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Putin's fake money: goodbye to BRICS dollars - but no one is following suit!
BRICS distances itself from de-dollarization: Russia and China isolate themselves on the currency issue; India resists.
Putin's fake money: goodbye to BRICS dollars - but no one is following suit!
Russian President Vladimir Putin is pulling out all the stops at the BRICS summit in Kazan! He proudly presents an imaginative BRICS currency - but it's just a dummy! BRICS itself declares it to be unofficial because there is a lot going on behind the scenes. The enthusiasm for a common BRICS currency has fizzled out faster than hot coffee. Countries like India, South Africa and Brazil are backing down and refusing to participate in Russia's de-dollarization agenda, which is designed to circumvent sanctions.
Real progress on the new BRICS currency? None! Consensus is required, but the members are divided. India in particular is not keen on the de-dollarization bandwagon because without the hot dollar, its ambitious economic agenda would come to a standstill." as watcher.guru reports "Russia and China's drive for global economic dominance is met with serious reservations. Only countries like Iran, plagued by US sanctions, dance along to Russia and China's macho party.
The march toward de-dollarization? A stumbling block! The US dollar remains the trendsetter of the monetary cosmos. The BRICS bloc may shout loudly - but without unity it remains toothless saber rattling " according to watcher.guru “.