Topic: BRICS mBridge "Dollar Killer" Goes Live (Read 411 times)

But Putin is right this time. Even Biden admits it...

https://x.com/nicksortor/status/1811518783636537655

Which does not mean he has always a good reason or that he is doing anything smart. Sometimes stupid is simply stupid, not a psy-op.

But it is the US that is aggressive.     

Putin is cunning, he does all this for a reason

The USD Federal Reserve Bank is about to fall. BRICS will be important then. If they have a solid base by then, the US may want to join. https://bitcointalksearch.org/topic/--5502432

The only country that could even think of competing with the US dollar would be China - and I am saying competing just to follow this through, because no country would like to have money that is controlled by the CCP. Even all the "BRICS" working together are simply not trustable enough for the capital markets, but again following just for the shake of it....

China is in the middle of a ridiculously large bank crisis. We are talking thousands (I am not exaggerating) of banks that lent to local construction companies have to write 40% of bad debt. Not a coin you'd use.

But that is what competition is all about.

You can make war and destroy. Competition. Or you can build a better money system for competition that builds thing up rather than destroys.

The US/Nato money systems have a back door built in where they create new money. Done right, it works. And done like it is being done, the banking system creates double... once for the 'citizens', and a second time for themselves... all at the same time. Deflation built in.

Anything negative about BRICS as a method to rule the world.has been in action with the USD for more than 100 years. That's why the nations want to get out of it. And that is why it is so successful... not because it is good.

Nope, it won't. The goal of BRICS is not to give people any freedom and you can bet on this because China has its hands in it. The goal is to weaken the USD, just like Roger Ver was trying to weaken BTC by launching BCH and Craig Wright tried to do the same with BSV.

Unfortunately for Russia and its allies, the rest of the world will not joint hem and drop USD. Imagine Europe, which along the US is helping Ukraine, joinins Russian monetary system to weaken the US.

But would not that be counter productive to the whole idea the BRICS is trying to do with their alliance, though? It is about the replacement of the USD as global medium of exchange in favor of they new currency.
By the way, the United States has such a bad relations with the main members of BRICS, that a membership would be rejected by Russia and China.
Still, I am curious though, assuming USA had a pass to join , what would be the conditions put onto the table for the biggest economy on the planet to get in the alliance?

It sounds almost sub-real if you think a bit about it.

^^^ World trade without the USD is here. But the US can join as long as it accepts simple membership like any other country or business.

Do you think the organization will do something useful?

Federal income tax cancellation works... math and logic.

He won't, but he can promise it as usual. The low income Latinos and Blacks, with due respect, are not there for being top of their class in general.

Trump out-Bidenning Biden,

I tend to distrust politicians that promise less tax but do not tell you what will they cut on. The usual answer is "efficiencies in government"... does it ring a bell?

But look, the low income black and latinos are happy with it... who am I to disagree?

^^^ You're just upset because Trump's cancelling of Federal Income Tax doesn't reach to your country.

What some of Trump voters do not seem to understand - I am talking mostly about low income black & latino communities - is the effects of what Trump has in mind in their economies. I guess not knowing about economy is one of the reasons they are low income in the first place, but:

- devaluation causes strong spikes of inflation. If they think they are bad under Biden, just wait for true inflation.
- Low income people are the ones mostly buying cheap Chinese goods. Tariffs on these will immediately hit their economies.

And make no mistake, due to tariffs loopholes that Trump says is going to close, many of those cheap Chinese products are de-facto at 0% tariff today.

They simply do not understand what is going to happen.

To me, it would not much sense to go for a devaluation of the USD, specially because of how do many countries see that currency as a store of value (at least in the mid term, it is not one in the long term). Though, during these recent debates and appearances Trump has had in public, he has shown his ignorance on how tariffs are supposed to work and how they are not going to benefit the United States people by taking money from China, but rather force businesses in USA to pay more to the State for the same importation goods they all need from abroad.
If tariffs are that difficult to understand for Trump, then I would not be surprised in the case he got convinced that devaluating their own currency would be good. Someone could put the case in front of Trump that devaluation would increase the competitivity of the USA to export more and more companies would be encouraged to keep their facilities in the continent, rather than moving to China. However, the secondary and unexpected effects are to be taken seriously.

When you stretch the 'rubber band' all out of shape like Biden has been doing, everybody will like it when it snaps back to normal.

The questions are:
1. Can Trump snap it back before it breaks;
2. Can Trump snap it back softly enough that it doesn't destroy itself in the process.

China won't entirely like what Trump is doing even though they agreed to it. The thing that might turn them against Trump and the 'system' is the ME (Israel) wars. If (when) that happens, it will take the whole fan down.

devaluating a coin has happened a number of times even in advanced economies and it makes sense under certain conditions - mostly when the exchange rate is simply not real. devaluing is the recognition that a country's economy is living in a fantasy. It did happen with the British Pound decades ago and with some other currencies around the world.

https://theeconreview.com/2018/10/16/how-soros-broke-the-british-pound/



The question is how would that make sense for a global currency such as the US. I think donald grump has a very narrow vision of what makes the US successful and ignores global effects - so devaluation he may try yes.

I don't know about you, but in my personal opinion, devaluating one's own national currency in order to boost exportation of goods to other countries sounds quite reckless and only responding to the needs of manufacturing corporations to continue in profit (those which are still in the USA, I mean. We all know much of what is consumed in USA comes from China, anyways).

That plan would imply there could be a boost in the exportation, that is true, but it would be painful for the average person to pay higher prices for everything with is imported into the country.
If that guys wanted to increase exportation, then he should re-check and enhance the trading treaties the USA has with it's commercial partners, instead of passing the burden upon the average person.

These are nonsense. The Federal Reserve is privately owned by bankers. Trump does not decide on monetary policy, nor does the US government. They can only borrow from the Fed, and that's it

His advisor on this matter is a well know economist that vouches for the devaluation of the dollar. If you see what happeneds in Argentina, even if it is not  the best example because is a shitcoin, the inflation spikes when you devalue the coin and I am not sure the US will accept this, the people I mean, because they do not feel their are in such a dire situation as Argentinians.

https://www.politico.com/news/2024/04/15/devaluing-dollar-trump-trade-war-00152009


So silly that they argue "too much printing".

Does he? I have followed Trump and American politics for a while and I was not nearly aware Trump had some ideas in mind about economics, specially applied to his own currency, the USD. Do you say Trump does not want the United States dollar to continue to thrive because his alledge alliance and contact with the Kremlin, or is it because other reason?
I would like to know where you got that information from, honestly. Most people are talking about the incoming public debate Trump is going to have against Joe Biden tomorrow and at this point, it would seems nobody is paying attention whether the USA dollar is losing steam as a reserve currency in the international markets or not, to me it does not look like it is. At least here in my country, handling dollars has become so common and it is part of the daily routine.

The pandemic was mostly (mis)managed by Trump. Hospital collapsing, people dying 3rd world style and meanwhile Trump sending checks to the people with a letter saying "this is thanks to me"...



And now as usual they try to re-write history and blame someone else.

But do not get this wrong - Trump does want the dollar to collapse, he thinks that it is not advantageous to have a strong coin -  so all this talk about "printing too much" is just plain disinformation as his own plans are even worse in that sense.

So what do you think politicians were supposed to do for them to help people to keep their lives together, if not giving stimulus checks for two thousand dollars to those who were elegible? It was a measure by Trump administration by the way, and I think I was okey enough so people would avoid to be thrown out to the street by their landlords and also one needs to keep in mind during the pandemic millions of people found themselves unable to continue working, so they did not have means to buy food or pay their bills. Sure, in general terms and when comes to the inflation that came next it is easy to say it was irresponsible, but there were not many options left.


Those stimulus programs probably allowed the United States not to get stuck into a recession at the same time the COVID pandemic was going on.

I think people understand it perfectly, but it is a good thing that you remember and make everyone else aware of how the pandemic was handled and how the printing press was set in motion. Let's have a look at some "pandemic management" examples and some economic management examples, from the past and from the future if I may:

https://www.beckershospitalreview.com/digital-marketing/mayo-clinic-takes-down-webpage-after-ex-trump-official-cites-it.html


https://www.crfb.org/blogs/how-much-did-president-trump-add-debt



https://www.forbes.com/sites/billybambrough/2020/03/28/donald-trump-and-the-fed-are-destroying-the-us-dollar/

And for the future...

https://www.politico.com/news/2024/04/15/devaluing-dollar-trump-trade-war-00152009

Watching the dollar lose reserve currency status while our politicians are completely blind to how currency works has been a learning experience for me. I don’t think people will ever understand just how bad management of the pandemic was and just how irresponsible our leaders were with the printing press.

That is a way to seeing to it, though, I believe Russia is not as isolated as the media, specially the western media says... I believe there are still countries which are willing to make deals with Russia, being China and India the most important ones, I think.
The North Korea show was more about a way to threaten the west and the Allies of the United States with whatever weaponry there is in North Korea... Russia being a semi pariah state, makes sense for it to ally with a total pariah like NK and Kim. If North Korea did not have nuclear capabilities, they would be completely irrelevant in geopolitics.

I do not see India playing only the Ruzzia card and certainly not the China card. BRICS as of today is an intellectual chimera in terms of having a real cohesion or a community of interests of sufficient size. Ruzzia is making noise about BRICS to cover their international isolation - they were even ridiculed when visiting a country that is the pariah of the world (North Korea).

It could be seen in that way, yes.
But it is not only about Vladimir Putin and the Kremlin, the alliance goes beyond Russia, after all. I see the organization as a collection of countries which seek for a change in the balance of economical and political power, taking much of it from the west (the United States) and focusing more in the east. The bulk of the political power of BRICS as well as their economical power lies in China and India, not in Russia.
In my opinion , It is more about China looking for new ways to expand their influence than Russia trying to get more allies. At it stands for now, It could be possible to be a member of BRICS and still not be in favor of the invasion of Ukraine by Russia. It would be more damaging for a country within the alliance to criticize Chinese politics than doing the same to Russian politics.

Is BRICS a way for Putin to somehow gather allies?

BA, the Moscow exchange has suspended the USd / Ruble pair because they have been forced to do so by sanctions - they did not choose to, they were forced to. I am happy you are considering this as good news, but I am not sure that the companies that do business in Ruzzia consider it the same way as you.

What I am certain is that China is very happy to have extra demand for their currency. I am not sure if you are Chinese, but if you are Texan, there is nothing good on a cheaper USd for you.

BREAKING: #Russia just banned all trading in the #dollar and euro, across the Moscow exchange. The collapse of the #dollar and the rise of #BRICS currencies is happening faster than we even anticipated. Every time the incompetent fools in Washington D.C. apply more dollar sanctions to the world, the world reacts by dumping dollars and shifting to a new multi-polar economic reality. So now the #MOEX has halted all transactions in dollars. This same thing will soon be announced by Saudi Arabia which will halt the sale of oil in dollars. This will implode the dollar virtually overnight as countries around the world begin panic dumping the failed US currency. #Gold and #silver are the last refuge of asset safety in a world where western currencies are being obliterated at breakneck speed. Plan accordingly.

Moscow stock exchange (MOEX) suspends all trading in dollars, euros as global shift away from western currencies accelerates - https://www.naturalnews.com/2024-06-13-moscow-stock-exchange-suspends-trading-dollars-euros.html.

Check the bibliography at the site.

It took over 100 years for the USD (Federal Reserve Note) to become what it is today. BRICS doesn't want to compete. They want to join and make right usage. That's why they have joined BIS, which the US uses.

What this means is that Turkey is already working with Russia as are all the other nations that use BIS. It's news to people who don't understand a little about BIS. Try https://duckduckgo.com/?q=usd+and+bis&ia=web.

BIS effectively makes usage of any national currency to be a viable thing. And, it's been around for a long time. So, simple BRICS moves change the whole face of world economy.

I don't know about you,  it it would be very unlikely for Turkey to join BRICS, while being an active member of NATO. BRICS, having Russia as one of the most important members within the qualition, would have a conflict of interests with Turkey being part of NATO and at the same time trading with them.
It would be beneficial for Russia, in the end, to start creating divisions within NATO, but I am not sure whether Turkey would sacrifice their membership for another one.
They may try to continue to join the European Union and start getting Euros circulating in their Economy, instead of Chinese Yuans or wherever the BRICS allegedly will try to create to dethrone the United States dollar.

Too much hot air and little to no action from BRICS to actually replace the USD as a global currency. It has almost been a year now and I still cannot find a single place or broker which offers me that currency they were alledgedly creating.

Leaders in other nations aren't so stupid. Here's another one that wants to join BRICS, even if it hurts their position in the EU.


Turkey signals desire to join BRICS and abandon EU membership dreams

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https://www.naturalnews.com/2024-06-07-turkey-joining-brics-abandoning-eu-membership-hopes.html
Turkey is interested in joining the BRICS group of emerging economies.

BRICS is an acronym for Brazil, Russia, India, China and South Africa. This organization, which is believed to be on the road to dominating the global economy, recently announced its willingness to expand by inviting Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates to join the bloc.

BRICS' five original members have indicated that their priorities going forward will expand to include tackling financial and economic issues, such as pushing for reforms to the World Bank and the International Monetary Fund, and establishing a BRICS "Interbank Cooperation Mechanism."

Furthermore, BRICS has indicated its desire to expand beyond tackling economics and finance by working together to help resolve regional issues, such as Iran's desire to establish a nuclear program, and the ongoing conflicts in Libya, Syria and Afghanistan. (Related: BRICS nations are now openly preparing for a global collapse of the dollar.)

Turkish Foreign Affairs Minister Hakan Fidan noted on Tuesday, June 4, that his country is interested in joining BRICS.

"Certainly, we would like to become a member of BRICS. So, we'll see how it goes this year," said Fidan.

In an interview with the South China Morning Post, Fidan noted that the BRICS group could offer Turkey a "good alternative" to its longstanding and repeatedly stalled desire to join the European Union (EU), especially if Ankara is interested in boosting its economic prospects.

Fidan noted that while Turkey was in a customs union with the EU, it was still exploring new opportunities for economic cooperation, including with BRICS.
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Generally "BIS" stands for Bank for International Settlements.


ALERT! BRICS Nations Join The BIS, Seeking A DIGITAL CURRENCY! Banking System IN COLLAPSE - https://www.youtube.com/watch?v=-ZaaS6JxcZ8.





[moderator's note: multiple posts have been merged]

What started out as a simple charity, has exploded into a method for world trade between nations. I can't wait until they make it available to individuals. Of course, maybe it is for bigger people already. Doesn't mean that you have to put all your money into it. Simply means that there will be fair trade across borders... without the corrupt USD.


BRICS mBridge "Dollar Killer" Goes Live

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https://www.zerohedge.com/news/2024-06-06/brics-mbridge-dollar-killer-goes-live
The platform is enabled to undertake real transactions
Authored by GoldFix ZH Edit

Today:
Commentary: D-Day ECB Day
Premium: Tom Luongo, mBridge update

Key Moments:

0:00- Intro
1:36- D-Day Quote
2:56- ECB Day, Michael Every comment
5:45- Tom Luongo Chat Preview
9:31- BRICs mBridge Primer and update

https://www.youtube.com/watch?v=7Hj7C-QnrzU
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