The Twilight of the US Dollar By James Reed
All is set for the creation of a new world currency coming from the anti-West BRICS alliance. The alternative will be hammered out at the BRICS summit in August 2023. The currency will no doubt be fully integrated into Central Bank Digital currencies. It will spell the end of the US dollar. That, as Mike Adams over at Natural News.com has argued in many articles, will also spell the end of the US, as the free ride on debt tht having the US dollar as world currency will end, and the whole castle of cards, collapses. Nothing much has been written about the effects upon Australia, but common sense would indicate, given high levels of US investment here, that Australia will face a day of reckoning as well.
“The BRICS alliance is exploring the creation of an innovative currency, with plans to share proposals on its establishment at the forthcoming summit in South Africa, according to Alexander Babakov, deputy chairman of Russia's parliament, the State Duma.
Speaking at the St. Petersburg International Economic Forum event in New Delhi, India, on Thursday, Babakov said that the plan is to initially transition to using domestic currencies in transactions and then introduce and circulate a digital or alternative form of a groundbreaking currency in the near future.
Babakov anticipates that the BRICS leaders summit will reveal a preparedness to implement this particular initiative, with work on the project ongoing, news agency Sputnik reported.
Babakov did not dismiss the potential emergence of a unified currency that could be used among the BRICS nations.
The proposed currency would be backed not only by gold but also by other assets, including rare-earth elements or even land.
The BRICS association comprises the world's most prominent emerging economies, including Brazil, Russia, India, China, and South Africa.
Several nations, such as Argentina, Iran, Indonesia, Turkey, Saudi Arabia, and Egypt, have expressed their intention to become part of this economic bloc.
The upcoming BRICS summit is scheduled for August 2023.”
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