US DOLAR vs BRICS 🚨BRICS NEWS: New Central Bank, Currency Update, Dedollarization and Focu...

Bloggers Note: While the West's Governments and Corporations and BANKS and accounting and lobbying firms are gathering ALL the CASH available including OLD MONEY to  implement digital central bank reserves in a forthcoming overnight operation....BRICS is becoming quite interestingly enough an investments bonanza.

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With Transcript 

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hello and welcome back everyone I hope

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you're having a wonderful day thank you

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very much for joining me it has been a

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while since I shared an update on the

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bricks block developments there have

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been several important events several

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developments which we will incorporate

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into today's video we'll talk about the

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announcement regarding the new currency

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bricks Central Bank we'll talk about a

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group of Asian countries effectively

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ditching the dollar and several other

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important points that I would like to

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bring up let's start with an entire

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group of Asian countries recognizing the

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need to trade in their local currencies

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this is a big one the association of

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Southeast Asian Nations is focused on

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promoting local currencies and is now

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set to discontinue using the US dollar

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for cross for a trade among its members

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their combined GDP is approximately $4

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trillion so it is quite significant and

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I would like to add here that nominal

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figures like combined GDP or total

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annual trade numbers or something else

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that is not the point here the point is

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the trend because this is merely the

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starting point that we're seeing so for

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10 developing countries the combined GDP

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of 4 trillion dollar might not sound

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like that big of a deal but it's really

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the trend the shift away from the

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reserve currency of the entire world

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that we're talking about think about it

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this way we're seeing developing

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countries choose not to rely on the

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United States dollar anymore as they

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deem it too risky the alliance includes

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Vietnam Thailand Cambodia Indonesia

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brune Laos Malaysia Myanmar Philippines

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and Singapore the countries fear that

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the rise in the US national debt of the

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militarization of the West and

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escalating conflicts will negatively

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impact their local economies as well as

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their prospects of development so

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therefore the group made the decision to

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focus on strengthening their National

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currencies and developing closer ties

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with our partners in addition to that

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any Western sanctions will now have a

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much much smaller impact on these

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economies this brings us to what you are

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likely waiting for the most uh what

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you're interested in the most

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interesting part to you the bricks

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currency is there going to be one

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currency used by The Block members as we

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know creating a completely

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self-sufficient Standalone Financial

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system in order to disengage from the

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West's ability to exert its dominance

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via sanctions and other types of

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economic measures that is indeed the

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main goal for the bricks block

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inherently by default once this new

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mechanism is in place and it will be

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soon from what I can tell the US dollar

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will be substantially weakened as the

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demand for it will decline globally in a

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recent interview South African

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Ambassador in China whose name is

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cabonga qu admitted that there is

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progress being made towards a common

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Brick's currency he once again said that

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the excessive dependence on the dollar

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is what's driving this work the bricks

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currency initiative is discussed during

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the brics finance ministers meeting in

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May with the details to be revealed

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later this year in October during the

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official the big Summit that will be

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held in Kazan in Russia so this year

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there will be nine member countries

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participating and new members are

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expected to be announced too in a

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previous video I shared the details of

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the bricks blockchain technology

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infrastructure you may recall the

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development uh of that technology is

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primarily driven by Russia and China who

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already have similar infrastructures in

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place if you haven't watched that video

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you will find it linked in the

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description below I do think that it is

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very important because that is going to

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become the basis of this new Financial

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system so it will eventually become the

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payment settlement platform for the

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entire block sources at the bricks new

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development Bank highlight that the

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block is looking at the prospects of

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creating a central bank for bricks that

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would eventually have the responsibility

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and of course the authority to issue a

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common currency for member countries so

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there's going to be a central bank that

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will coordinate not only the currency

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issuance eventually but also and I'm

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presuming here uh guiding fiscal

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policies of the Block's members very

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similarly to how the EU tries to more or

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less cordinate these types of policies

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among its members recently Russia's

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Deputy foreign minister Serge yov voiced

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his support for the creation of the

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brics Central Bank as well so it is

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likely going to happen and I'm assuming

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that we will hear the big news the

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announcement later this year and just

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several months from now in October the

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fact that the bricks is working on an

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alternative Financial system does not

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really mean that the block will ignore

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trade opportunities with European

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countries for example many people seem

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to think that there's going to be some

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type of a trade war or hostility even if

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there is I don't really think that it's

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going to come directly from the bricks

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Block members because the bricks block

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and this is very important to understand

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it is not hostile towards trade

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opportunities with the rest of the world

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the block wants to expand and it wants

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to develop and it's likely going to see

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corporation on those terms of course

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that are convenient to the Block's

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members and that is going to be the

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biggest difference from now on the

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bricks is likely uh going to see

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cooperation with Europe um as was

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expressed by China's president Xi

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Jinping during his meeting with European

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leaders in May for the EU trading with

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the bricks members would be extremely

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beneficial although the United States is

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unlikely to approve if those

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transactions are not settled in dollars

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um but states such as Hungary and Serbia

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for example will definitely greatly

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benefit from developing ties with the

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bricks and judging from XI jinping's

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recent visit to these countries that

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very well may be part of their plan

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moving forward now the fourth

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development that I would like to discuss

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is the increased attention uh on African

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countries and the increased involvement

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of Russia and China in the continent the

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head of the new development Bank uh

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dilar Rusev stated that the braks is

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ready to invest in Africa to help it

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address its biggest challenges this was

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said during dma Rusev's trip to

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Johannesburg not too long ago it goes

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without saying that this is a big win

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for Africa as a continent that's been

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historically colonized and drained of

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its resources it exploited and never

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really received much in return from the

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developed world this is a big

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development The Continuous poverty did

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help contribute to extreme disparity and

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certainly played an important part in

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how unstable the entire region has been

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so Rusev said that the bank will finance

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physical and digital infrastructure

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projects in Africa and it will focus on

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educational ones here's what she said

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the new Development Bank has the

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potential to be the leader of projects

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that address the most urgent challenges

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of African countries she said pointing

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out that although Africa's share of

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foreign direct investment Rose to 88.8%

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of global foreign direct investment in

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2021 from just 4.9% in 2010 a decade

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earlier it can and must rise much more

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so hopefully this quick update was

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interesting and useful let me know in

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the comments below what do you think

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about these developments do you think

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that a central bank that will cater to

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the needs of the Brooks block is a good

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idea let me know in the comments below

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as always I would love to hear from you

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thank you for taking the time to watch

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the video subscribe like and share if

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you found it interesting and I'll see

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you back here tomorrow have a good one

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