India Is Mulling Rupee-Ruble Payments System

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News Date: March 12, 2022

India is discussing how to set up a rupee-ruble payment mechanism to enable it to trade with Russia, to circumvent the U.S. sanctions regime.
During the last several months, several considerations have prompted the Modi government to rethink the wisdom of putting all its eggs in the U.S. basket.
Instead, India is returning to a more balanced approach, assessing its national interests vis-a-vis those of other countries and acting accordingly.
To Be Non-Aligned on Russia Policy Implies India Finding Trade Workaround.
Source: nakedcapitalism.com

Trump: We will end the radicalism in Washington DC

Donald Trump Perry, Georgia Rally Speech September 25:
With all of you in Georgia and conservative patriots all across the nation, we will end their reign of radicalism in Washington DC forever.
With a Republican Congress, we will fight for more jobs for Georgia families, fair trade for Georgia workers, and more Georgia factories forging more products stamped with that beautiful phrase Made in the USA.
You do not hear that too much. And you know, they are starting to say very strongly Merry Christmas.
Remember when I first ran, I said, you are going to say Merry Christmas.
They are all saying Merry Christmas again.
Full Rally Speech Transcript: www.rev.com

Introducing the new global financial system

Answers provided by Sergey Glazyev, Russian Geoeconomics Tzar:
The world's new monetary system, underpinned by a digital currency, will be backed by a basket of new foreign currencies and natural resources.
And it will liberate the Global South from both western debt and IMF-induced austerity.
Transition to the new world economic order will likely be accompanied by systematic refusal to honor obligations in dollars, euro, pound, and yen.
In this respect, it will be no different from the example set by the countries issuing these currencies who thought it appropriate to steal foreign exchange reserves of Iraq, Iran, Venezuela, Afghanistan, and Russia to the tune of trillions of dollars.
Full article: Authored by Pepe Escobar via The Cradle

India Is Mulling Rupee-Ruble Payments System

India is discussing how to set up a rupee-ruble payment mechanism to enable it to trade with Russia, to circumvent the U.S. sanctions regime.
During the last several months, several considerations have prompted the Modi government to rethink the wisdom of putting all its eggs in the U.S. basket.
Instead, India is returning to a more balanced approach, assessing its national interests vis-a-vis those of other countries and acting accordingly.
To Be Non-Aligned on Russia Policy Implies India Finding Trade Workaround.
Source: nakedcapitalism.com

UN Urges Debt Relief for Developing Nations

The United Nations Development Programme (UNDP) warns that the debt crisis in developing nations has reached unprecedented levels, with debt servicing consuming an increasing share of national revenues at the expense of development.
A new policy brief, released ahead of the G20 finance ministers meeting in Cape Town, highlights that 56 developing countries now spend over 10% of their revenue on interest payments, with 17 exceeding 20%, heightening default risks.
Total external public debt for the 31 poorest nations at risk of debt distress is estimated at $205 billion, while global debt servicing reached a record $1.4 trillion in 2023.
UNDP urges immediate reforms, including a more effective debt restructuring framework, systemic relief initiatives, and reduced borrowing costs to prevent a lost decade of development.
The upcoming Financing for Development conference in June will be a key platform for addressing these urgent issues.

Malaysia is exploring the adoption of the gold dinar

Malaysia is actively exploring the adoption of the gold dinar as a reserve currency, with Prime Minister Datuk Seri Anwar Ibrahim announcing this initiative in the Dewan Rakyat, the lower house of parliament.
An upcoming meeting on Islamic economics and finance in December will serve as a key platform for discussing and evaluating the feasibility and benefits of introducing a gold-backed currency.
This endeavor reflects Malaysia's commitment to sound economic management and its respect for Islamic financial traditions, with potential implications for both domestic and international financial systems.