More News, Rumors and Opinions Tuesday Afternoon 3-26-2024
TNT:
CandyKisses: BRICS Adopts Non-Dollar Payment System
Mawazine News-Baghdad
The BRICS Group is on the move to expand non-dollar payments, as Group countries seek to move away from the U.S.-controlled SWIFT banking system.
The group’s plans, which include Russia, China, Brazil, South Africa, India, Saudi Arabia, the UAE, Egypt and Ethiopia, include the creation of an international BRICS Pay payment system based on blockchain technology, i.e., based on digital assets.
It will be possible to overcome Western sanctions and obstacles thanks to this decentralized mechanism, which will include multiple currencies, and the mechanism will contribute to strengthening the economic influence of the BRICS group and accelerating the emergence of a supranational currency, which is a direct threat to the position of the US currency.
A major goal of the BRICS countries is to move away from the dollar and use national currencies in business transactions. It should be noted that 95% of trade transactions between Russia and China are in rubles and yuan.
“All of this enhances the ability to repay and strengthens economic resilience to uncertainty, uncertainty and external shocks,” says Shin Yi, head of the BRICS Research Center at Fudan University’s Development Research Institute of China.
The idea of the mechanism revolves around the creation of a special platform based on digital currencies in the countries of the "BRICS" to implement financial settlements, which will break the monopoly of the Western "SWIFT" system of financial operations around the world, and a few days ago, Russian Assistant President Yuri Ushakov revealed the intention of the "BRICS" countries to create a payment system based on digital currency technology.
With the US dollar used as a tool in sanctions and the arrival of U.S. public debt at an astronomical level, countries in the world, led by the BRICS countries, are increasing the use of national currencies in international trade.
************
Tishwash: Sanad: Washington is blackmailing Baghdad with dollars, and the Sudanese government must end the sanctions file
Independent MP Mustafa Sanad called on the government of Muhammad Shiaa al-Sudani to expedite discussions on removing foreign forces.
Sanad said in a televised interview followed by Mawazine News: “The Iraqi government must strongly adopt the Iraqi files, and the most important of these files are the foreign presence file and the banking file, stressing that there are Iraqi banks that were contributing to the activity of the economic cycle and were closed by Washington.”
He added, "The existence of some violations among these banks does not require closing them and assigning Jordanian or Gulf banks to carry out their work, and this is considered the biggest mistake."
He pointed out that "the US Federal Reserve has reduced the pumping of dollars to Iraq in the recent period, and we hope that this file will be discussed during the Sudanese's upcoming visit to Washington." link
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man How are they going to attract foreign investment? They're going to open their borders with an International currency ... and they're going to rock and roll. The signs are everywhere. Al Sudani recently said he was going to make a change to the dinar to 1.32 dinars to the dollar, which is about $0.76. But that doesn't include adding the Real Effective Exchange Rate.
Frank26 You've got the prime minister of Iraq already having a discussion with former President Trump. You got the prime minister of Iraq already having a discussion with former President Bush. It's interesting now we have the foreign minister in DC...he's talking with the United States Treasury...No one talks to anybody at the White House until April the 15th because...they're not going there to hand them the exchange rate they want to use, they're going there to activate it and tell them that's it...
The Central Bank announces an increase in dollar transfers through official channels
Nader: 3-26-2024
Banks OUT Of Cash And Start To Dump Everything, As HUNDREDS More Banks Face Failure
Atlantis Report: 3-25-2024
The financial sector is on the verge of a serious crisis, with many banks struggling due to severe cash shortages.
This has led to institutions desperately selling off assets, causing a widespread crisis that could affect the entire industry. With hundreds more banks at risk of failure, the impact of this unfolding disaster is likely to spread throughout the global economy, potentially causing an unprecedented chain reaction.
Today, we will look at the potential causes of bank liquidity crises, explore their potential domino effect on the financial system, and examine possible solutions.