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BRICS Alternatives to SWIFT

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News Date: March 1, 2022

BRICS is the acronym denoting the emerging national economies of Brazil, Russia, India, China, and South Africa.
It is a growing eastern world alliance led by China.
In another effort to reduce their dependence on the US dollar, BRICS members have been building their own global payment infrastructures for international transactions that are independent of the US dollar and can serve as alternatives to SWIFT, the leading messaging network for financial transactions worldwide.
This allows BRICS members, especially those who are often subjects of US sanctions, to create their own rules for international banking and settlement. Moreover, by extending alternative financial infrastructure to other countries and regions, BRICS can create greater buy-in for their own system and increase their financial and political influence through this alternative system.
Some BRICS members have independently developed their own cross-border payment mechanisms in recent years.
Both Russia and China have launched their national alternatives to the SWIFT global banking network and introduced their systems to broader global markets. Source: www.cambridge.org

BRICS commission on space cooperation

A joint commission on space cooperation of the BRICS countries was established, kicking off a new chapter of joint observation and data sharing of remote sensing satellites among the five member states.
The Joint Committee was officially launched on Wednesday, opening a new chapter in the remote sensing satellite observation.
The constellation is made up of existing satellites contributed by the space agencies.
Sources: globaltimes

New Defense Secretary on quick removal of US troops in Afghanistan

New acting Defense Secretary Christopher Miller has hired a senior adviser that has frequently pressed for the quick removal of U.S. troops in Afghanistan, the Defense Department confirmed on Wednesday.
Sources: thehill.com

What is Section 230 which Trumps wants terminated?

Section 230 is a piece of Internet legislation, passed into law as part of the Communications Decency Act (CDA) of 1996 (a common name for Title V of the Telecommunications Act of 1996), formally codified as Section 230 of the Communications Act of 1934 at 47 U.S.C.§ 230.
Targeting fake news and the US presidential elections, Trump and others have attacked Section 230, saying it has given companies too much legal protection, allowing them to escape unscathed.
Sources: twitter.com, opoyi.com

Trump predicts a market crash in the next 12 months

Former President Donald Trump anticipated a US economic crash and expressed a hope that it would happen within a year, prior to a potential second term in office, if he were to win the November election.
'When there's a crash, I hope it's going to be during this next 12 months because I don't want to be Herbert Hoover. The one president - I just don't want to be Herbert Hoover,' Trump stated in an interview Monday on Lindell TV.
In 1929, during Herbert Hoover's first year as president, the US stock market crashed, triggering the start of the Great Depression, leading to widespread economic hardship and unemployment across the nation.

China increased Russian gold import

Russian Gold Rerouted to China Amid Western Ban.
China imported $108.8 million worth of Russian gold in July - a 750% increase from June and a 4,800% increase from the same month last year.
China may be just one of several important new destinations for Russian gold in Asia and the Middle East.
Source: themoscowtimes.com

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