BRICS mBridge "Dollar Killer" Goes Live

[BADecker]

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


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
...

[BADecker]

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


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.
...





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]

[Hispo]

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.

[BADecker]

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.

[BADecker]

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.

[paxmao]

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 [...]

Check the bibliography at the site.

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.

[nakitalk]

Is BRICS a way for Putin to somehow gather allies?

[Hispo]

Is BRICS a way for Putin to somehow gather allies?

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.

[paxmao]

Is BRICS a way for Putin to somehow gather allies?

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.

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).

[Hispo]

Is BRICS a way for Putin to somehow gather allies?

....

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).

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.

[OgNasty]

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.

[paxmao]

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.

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

Rochester, Minn.-based Mayo Clinic removed information on hydroxychloroquine from its website after a former Trump administration official said the health system validated its use as a COVID-19 treatment, the Post Bulletin reported Sept. 26.

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

In the recent GOP primary presidential debate, former United Nations Ambassador Nikki Haley claimed that President Trump added $8 trillion to the national debt while Florida Governor Ron DeSantis said that President Trump added $7.8 trillion to the debt. These statements are true, depending on how you measure additions to the debt. We estimate the ten-year cost of the legislation and executive actions President Trump signed into law was about $8.4 trillion, with interest.

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

Donald Trump And The Fed Are Destroying The U.S. Dollar
[...]
It's been an historic week for the U.S. with president Donald Trump signing a record $2.2 trillion coronavirus-induced emergency stimulus package.

And for the future...

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

Trump trade advisers plot dollar devaluation Advisers close to the former president — particularly his former trade chief Robert Lighthizer — are considering policies that would weaken the dollar relative to other currencies, which could juice U.S. exports but also fuel inflation.

[Hispo]

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.

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.

[paxmao]

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.

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.

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.

[Hispo]

...

🍑

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.

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.

[paxmao]

...

🍑

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.

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.

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

Advisers close to the former president — particularly his former trade chief Robert Lighthizer — are considering policies that would weaken the dollar relative to other currencies, which could juice U.S. exports but also fuel inflation.

So silly that they argue "too much printing".

[BitGoba]

...

🍑

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.

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.

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

Advisers close to the former president — particularly his former trade chief Robert Lighthizer — are considering policies that would weaken the dollar relative to other currencies, which could juice U.S. exports but also fuel inflation.

So silly that they argue "too much printing".

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

[Hispo]

...

🍑

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.

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.

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

Advisers close to the former president — particularly his former trade chief Robert Lighthizer — are considering policies that would weaken the dollar relative to other currencies, which could juice U.S. exports but also fuel inflation.

So silly that they argue "too much printing".

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.

[paxmao]

...

🍑

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.

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.

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

Advisers close to the former president — particularly his former trade chief Robert Lighthizer — are considering policies that would weaken the dollar relative to other currencies, which could juice U.S. exports but also fuel inflation.

So silly that they argue "too much printing".

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.

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/

Following an interview with the then President of the Bundesbank, Helmut Schlesinger, it was revealed that the pound sterling was one of those currencies that could “come under pressure” and be devalued since it was trading at levels that were far away from its inherent value. This caused a huge dent in market sentiments and probed major speculation about the pound and the possibility of it being devalued.

Meanwhile in New York City, Soros and his Quantum Fund had been building a $1.5 billion short position anticipating that an overvalued pound would be compelled by the market to drop down to its equilibrium price devoid of any artificial intervention. A short position, in essence, allows an investor to garner profits when the price of a commodity or security goes down rather than up.

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.