Suche
Mein Konto
Russia's boldest BRICS plan: multi-currency revolution against the dollar!
BRICS plans a multi-currency system to break the dominance of the US dollar, Russia's proposal discussed at the summit.
Russia's boldest BRICS plan: multi-currency revolution against the dollar!
Russia wants to shake the dominance of the US dollar with a bold move! In the run-up to the upcoming BRICS summit, Moscow is drumming up support for a “multicurrency payment system”. Sounds complicated? It's actually quite simple: each country pays in its own currency in order to avoid the dollar and weaken the control of the Western financial giants. This is how watcher.guru reports on Russia's plans.
China and Iran are likely to welcome this idea with open arms, as both are keen to free themselves from the dollar's shackles anyway. But Moscow's proposal fell on deaf ears among the other BRICS members, particularly India and the United Arab Emirates (UAE). India has already made it clear that it is loyal to the dollar, while the UAE relies heavily on the green US currency to keep its glittering global cities running.
Whether Russia's daring plan will succeed or be dismissed as a desperate act at the October 22-24 summit in Russia's Kazan region remains to be seen.