Topic: The disappointing outcome of BRICS 2024 - page 2. (Read 589 times)

I highly recommend studying the financial interaction between russia and China. since 2022, when russia started a new stage of war against Ukraine, and started a large-scale terrorist war against Ukraine, russia has had problems with oil and gas sales. This accounts for half of Russia's total income (selling raw materials, in fact). Most of the oil, the terrorist countries, now actively 2 countries China and India. So find out how is the mutual settlement in rubles, yuan and rupee ? You will be surprised, but India simply blocked all the funds of Russia, for the sold oil, promising to return them later, somehow, in the form of dividends, from ... and China, paying for oil with yuan, simply does not allow to buy anything worthwhile in China for “dirty” yuan (dirty with Russia). It is “Russia's best friend” and “partner” in BRICS  

Let me remind you once again: BRICS is not a union of partners, it is a union of competitors, where the smartest are trying to maximize their profits by destroying some countries without the slightest hesitation. Or do the latest examples tell a different story ?

No sooner had I said that the presence of some countries in the BRICS is just a ploy to get additional benefits from the “suffering” pariah countries than some surprising news appeared:

Russia has started emergency purchases of butter from the UAE.
For those who did not understand the news - I explain.
There is a Vologda region in Russia. It is famous for its butter.
So the UAE is almost half the size of the Vologda region.
In addition, the UAE is a country created entirely in the desert. There is nothing but desert there. There are regular sandstorms there. In the summer, it's +50 in the shade.
And now huge Russia (the largest country by territory, 40% of the world's natural resources, ....) has rushed to buy butter from these tiny desert Emirates.
Boundless Russia. With all its endless flooded meadows and generous fields, with all its centuries-old praised cows, with all the “rich traditions of agriculture”.
Russia just doesn't care about oil. Russia is busy making cannons.
But cannons are good at killing people, but cannons are not good at feeding people.
That's why we need to ask for oil from the Emirates. But at the same time you must continue to shout about the greatness of Russia.

PS And “the cherry on the cake” - do you know for what currency the UAE sells its oil to “the richest Russia”? Yes, you guessed it - for US DOLLARS 

I never knew if Brics would have a single currency, I don't think they would do that. BRICS countries are examining various alternatives including digital currencies.
For example, countries like China and Russia have made great progress in the field of central bank digital currencies CBDC, so issuing a digital currency under the BRICS umbrella is also among the options.
Or they could issue a common currency in the future, but I don't think they would force any BRICS member to do so.
Not a disappointment, they are slowly expanding and getting more participation.

You are misunderstanding the nature of this process They don't refuse to accept them they can't service them. And whatever China has - China has it, and the “great Russia which fights the US and the dollar” strongly recommended everyone to bring with them ... dollars, which Russia will gladly accept ! Don't you think it is comical and pathetic against the background of statements of Russian President Putin (international criminal) that the dollar is worthless and should be gotten rid of ?

UnionPay is a good Chinese payment system, but it is centrally managed by the Chinese government with all the possible peculiarities, which is also worth paying attention to. It works in my country and payments are accepted.

Regarding Turkey - I will say at once that this is my personal opinion, to me today's steps of Turkey seem to be just a game to get more profit. Turkey is not making an unambiguous choice to one side or the other, Turkey is trying to maneuver, extracting maximum benefits for itself from today's “dynamic situation”. But here is what I support - it is better for Turkey to choose the vector of the EU and the Western market than to “tight embrace” with the pariah countries or criminal countries.
Although Turkey can use these countries for its current benefit, like China made Russia its slave and raw materials appendage

PS Turkey is a beautiful country, I used to vacation there every year and traveled the country from Istambul to Mersin. Culture, history, nature, national cuisine - everything deserves attention !

If they refuse to accept Visa or MasterCard, that's not a problem because China has UnionPay and that's very good too. I have been using UnionPay for years and can't find a difference between it and Visa or Mastercard. I was always able to pay everywhere with it. So if they ban Visa and Mastercard, they have UnionPay. This is not their weak point.

Btw I don't like the idea of joining BRICS and I hope my country won't join it. What's on the table for any country to join BRICS? Dedolarisation? Isn't it better to join the EU? Not every country can join EU because of their location but I think Turkey will do better in the EU than in BRICS. The problem is that the EU takes too long to accept countries and that's what makes BRICS stronger with the help of corrupt politicians. Russian FSB is doing a great job.

It seems that the de-dollarization of BRICS also went down the drain, “thanks to the efforts” of President Putin (an international criminal). As it turned out, as a result of the BRICS2024 summit, India, UAE, Brazil, Egypt, and to a large extent China, abandoned the path of dedollarization. They were smart enough to understand that dedollarization, in today's situation, is the loss of world markets.  This is coming from the countries that make up 75%+ of the BRICS economy. The rest of the “fighters against the dollar” look like bums (although from the point of view of economic solvency they look like that), who tell everyone that they “will not pay attention to the flirtations of Miss World” 

PS And what is very indicative - if you compare the results of the summit in the Western media and the Kremlin media, you will see a surprising, almost diametrical difference in information. Therefore, I recommend to use adequate media as sources of information, not “manual media” of dictators/criminals like Russian, Iranian and similar.

A few observations after the summit.
One of the goals of the summit was for the Russian dictator (and international criminal) to show that he is not an outcast and has some importance.
What really happened in Kazan ?
To understand whether Putin's “Russia is the leader of BRICS” narrative is working or not ?   The answer is very simple - no, Russia is not a leader in BRICS. The leader of BRICS from an economic point of view is China, and China's competitor in the organization is India, not Russia.
It goes without saying that in Russia, propaganda channels were going around talking about the “huge importance” of Putin's meeting with Chinese President Xi Jinping.
But if you read the media of the free and adequate world, the main event for them was the first meeting between Xi Jinping and Narendra Modi, Prime Minister of India, in five years.
Well, and the classic question that has been worrying many people for the last few years - the members of the BRICS alliance - are they allies and partners or ... ? ?
As practice and the summit have shown, at the moment, they are rather competitors fighting for personal gains. And even the huge expectations of the Russian dictator to unite the “global south” under the idea of “anti-American union and the fight against the dollar” failed, because most of the BRICS countries are interested in cooperation with Western countries.

Clearly the disadvantages are much higher than the advantages.
Those ministers don't have companies which buy at the international markets. The US Dollar is accepted in most parts of the world. Not much goods are needed from the non Dollar community.

Both ministers not coming from the economical sphere of a country does not help. Both are career politician. Politics went haywire since no skilled people are at the helm of a country.  


https://en.wikipedia.org/wiki/Ned_Nwoko


https://en.wikipedia.org/wiki/Mohammed_Ali_Ndume

What I absolutely agree with is that there should always be an alternative and healthy competition ! It would be foolish to support alternative-free monopolization. But as always, there are nuances
1. The dollar model of international settlements is convenient, familiar, and integrated into many world processes.
2. YES, it brings additional “bonuses” to the USA, it is also stupid to deny. And it makes some less successful people wildly jealous. Yes, the U.S. was once smarter, more nimble and cunning.
3. Yes, they allow to punish some regimes and countries. And this also does not like it, and first of all the countries that are criminals or playing on the edge of legality and lawlessness. And TODAY this is the main reason why the BRICS, Russia in the first place, tells tales about “useless dollar”, an alliance against the US and the dollar. I remember from all the time of the USSR as from all TV, radio in schools and factories, we were told from morning till night that “the dollar will soon die”, “the Western world will collapse”, and other propaganda nonsense. Question - where is the USSR with its “strong ruble and beautiful socialism”? ))
4. BRICS was and hopefully will remain an economic union. And a union for the sake of IMPROVEMENTS, not a union against someone/something.   And its results have shown that adequate and powerful BRICS participants realize where they want to be pushed, and therefore they refuse from an alliance “against someone”, especially when they are pushed to “oppose” those with whom BRICS benefits - the Western markets. That is why the BRICS said: we are not fighting the dollar, we are creating a convenient mechanism of mutual settlements within the BRICS. WE will not oppose the US, we will build mutually beneficial conditions for all, including mutually beneficial interaction with other unions, payment systems and countries. BRICS is not a self-isolated union from the whole world, it is an economic union of countries that have common interests and want to establish more comfortable economic relations between them.

No matter how we perceive the words - softly or more harshly, the meaning is the same: China has ceased to benefit from the “quick victory war” terrorist war launched by Russia against Ukraine. Now Russia has dragged Iran, North Korea, and not openly China into it. Although 3 years ago, Putin promised China this very solution, to show the world that pressure and state terror will not be punished, that the west is weak and fragmented and will be even more fragmented and weakened by contradictions.... And the theroist countries can rule the world, for example China, tacitly supporting such actions of russia, will be able to occupy Taiwan easily and without consequences. Now Putin tried to drag the BRICS into his political games, where they are losing and dragging Iran and North Korea to the bottom.... China has realized that doing business with a loser is not profitable, it is enough for China that russia has become its raw material appendage and new market. But further escalation will hurt China, which already has a lot of problems and no good solutions....

The race for de-dollarisation shouldn't be seen as a political or economic attack on the US. It is a fight to survive the negative effect of the monopoly enjoyed by the dollars. Recently two senators Ned Nwoko and Mohammed Ali Ndume from Nigeria called for the de-dollarisation of the economy. They argue that there is a need for alternatives to transacting international businesses in other currencies other than relying heavily on United States dollars. The world needs to have another dominant currency so that countries can make choices. The only reason why there is this antagonism of BRICS currency is because Russia and China which are enemies of the West are behind it.

Another reason some countries want an alternative currency is the economic weaponisation of the US Dollar and SWIFT. If countries are sanctioned fairly there might be no agitation to have an alternative. Some countries are sanctioned just because they don't want to have a relationship with the US and its partners. Meanwhile, other nations are given the freedom to freely have international relations. If the punishment for nations who invade a nation or kill innocent civilians is an economic sanction, let it be applied to all nations. There should be no segregation or favouritism.          

BRICS single currency might not be a perfect solution but is a step in the right direction.

It is very simple to explain - there are many hysterical hysterics (I will not mention their names here), who do not care about the essence of the dialog, but just shit in the topic they do not like, promote hateful concepts, justifying terrorism, crimes against humanity, and similar things that some rogue countries and terrorists are trying to push in BRICS. I think it is not acceptable. And at the moment, not a single post of a person who simply has an alternative view to my opinion has been deleted, which confirms the above. I recommend that your opinion on self-moderated threads go to other threads that are not far from mine - then share what you get back

You don't like the way I speak the truth ? That's your problem !
You attribute to me patriotism and defense towards USA ? Give me at least one example where I say it directly ! Why are you lying and manipulating now Perhaps you want to give an example where I call some countries terrorists - it does not say that I am a patriot of the USA, but is based solely on personal experience as a citizen of Ukraine. So if I am a patriot, I am a patriot of Ukraine only

Yes I know that not everyone likes the truth, especially the truth about themselves. The main thing is not to hide it and carry it to the masses to resist the purposeful propaganda and attempts to hide the reality !
So those who do not like self-moderation and the truth - can answer nothing and pass by the topic

The fact that this is a self-moderated topic explains a lot about @drbeer himself I mean not even that he is wrong, to be fair he is right and yes Dollar is strong just like it always been and while BRICS are trying, so far they have nothing. Doesn't mean they won't have anything in the future, but we have seen what a common currency does, Europe has one, and they are considering literally disbanding it, so we can safely say that it doesn't really make anything better.

But it's a new thing, and the results are far inferior to what they expected and outlook isn't good, but we need to give them some time. The reason why what @drbeer does is funny because while he is right, he uses his words so carelessly that people literally get annoyed by "how" he says things and not "what" he says He is a pure patriot American, will defend American rights everywhere, and even if he is wrong, he will decline being wrong, which makes him questionable even when he is right, like this topic He is right here, but people still do not want to confirm that lol.

In reality no. Unfortunately we need control to make economic progress for a society. not for the individual. Crime is entrepreneurship with a different set of values. 


There are so many people involved, many who interpret the words of their leader harsher, other softer.
In that perspective the danger is greater than just using XI's words. Not many people around who keep their words to the letter.

Dedollarisation to fight western domination but of the number of countries that have joined, is there any significant positive economic growth? Only China and India excel in economic growth and the rest are still in a situation that remains unstable. Based on data on projected economic growth it refers to US $35.5 trillion debt and if it continues to surge it will certainly make the US find itself in a financial burden. the impact on other countries is very bad because they store foreign exchange in dollars. the solution is that the US must prove with the new president who will be elected to solve the problem of their accumulated debt.

1. It is enough to listen to Xi Jingping's speech, and the noticeable change in the rhetoric of the Chinese Foreign Ministry towards the war unleashed by Russia against Ukraine. It has become definitively unprofitable for China.....
2. Putin spoke about the BRICS single currency, or rather actively tried to put it in the ears of all participants at the beginning of the summit, and did not hide that the task of the BRICS single currency is to get away from sanctions! He also openly called to make BRICS a union not for the development of the economies of the participants, but a block against the U.S. and the dollar. This is what I have been talking about for several years - some players, or rather BRICS members, the world pariahs and those close to this status, try to use BRICS exclusively to solve their political problems and complexes.

If you don't like the information, immediately hang such clichés, and willfully lie, for example about “is clueless as always and not done his research”
I spent several days studying the materials of this summit. True, I did not use knowingly biased russian media, but read adequate sources and interviews. Let you now try to prove the opposite to everyone here: you “as always ignorant and without having done your research”, and at the same time attributing your own words to me, just primitively broadcasting someone else's opinion without checking it ?

And then let's talk about how Russia and China tried to push the idea of a single currency of the BRICS union in the form of the Chinese yuan (for foreign economic settlements), and then the president of Russia (an international criminal) ran and showed everyone some colorful paper, saying that this is the prototype of the single currency of BRICS
So who here “ignorantly and without information” labels people whose opinion he cannot refute ?

Dr beer is clueless as always and not done his research

brics is not going to be a single currency.. he needs to learn how each country of brics will have its own domestic currency on a new distributed ledger system(crypto) where by the forex is done multi-laterally via a system called the m-bridge

there wont be a single currency reserve, but instead each countries own domestic crypto will have an allotment locked up in the m-bridge to do the currency interchange to other currencies

I wonder where did you get that China told Russia to stop its useless special op (aka war vs Ukraine)?

The PS is really intriguing as the US plus most allies have seen the superiority of the western war doctrine, Capabilities plus skills wins against mass.

In BRICS we should not forget that BRICS is a Replacement of Swift, non bound to any country so their (BRICS memberstate's) vision.
Swift itself is about to change and adopt to modern times.   Mentioned here: https://archive.ph/svgEc 
Original under https://www.economist.com/international/2024/10/20/putins-plan-to-defeat-the-dollar

Yep the West didn't like it when they exported their economy but that's just how they make business. They don't export war but build businesses and drown countries with debts still.

Everybody just wants to rule the world. It just happens that they are about to do it. Whether BRICS wins to dominate and their currency becomes the reserve currency, it still be the same as US would do, they will also be using their currency to sanction countries.