Parky60 Loc: People's Republic of Illinois

In June, during the BRICS forum – an alliance between Brazil, Russia, India, China and South Africa – Vladimir Putin announced that a new global reserve currency was in the works, along with a new mechanism for international payments outside the Western financial system. Presently, the world’s monetary architecture rests on the primacy of the US dollar, with other currencies playing an important role, including the Euro and IMF Special Drawing Rights – a basket of currencies under the International Monetary Fund. However, if the BRICS reserve unit becomes viable, then the potential exists for a multi-polar new financial order and a Western/Eastern currency rivalry with economic and political ramifications.

Currently, Argentina and Iran have solicited to join BRICS. Egypt and Turkey have also expressed interest, and China’s Xi Jinping recently called for a quickening of the enlargement process.

Canuckus Deploracus Loc: North of the wall

Some of us have been warning about this for years...

Thanks for sanctioning Russia and proving that the system is viable