SCO to expand trade in national currencies

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News Date: September 16, 2022

China-led SCO bloc agrees to expand trade in national currencies.
The leaders of the Shanghai Cooperation Organisation (SCO) agreed on Friday to take steps to increase the use of national currencies in trade between their countries, according to a joint declaration adopted on Friday.
Source: reuters.com

Putin vows a fair world order after next BRICS summit

Addressing a year-end press conference that lasted more than four hours on Thursday, President Putin criticized the West's idea of a 'rules-based world order,' calling it non-existent and claiming that rules change based on political agendas.
He announced the 2024 BRICS summit in Kazan, under Russia's presidency, will aim to establish a fairer global order, dismissing the current narrative as unpredictable and driven by transient interests.
He stated the summit will 'demonstrate that there are enough forces in this world, powerful countries who want to live not by those unwritten rules, but rather by the rules enshrined in fundamental, cornerstone documents, which include the United Nations Charter...'
In October 2024, Russia will host the largest-ever BRICS summit in Kazan

BRICS Developing Independent Financial System, Russian Envoy

BRICS countries are developing an independent financial system free from third-party dominance, according to Russian Ambassador to China, Igor Morgulov.
Speaking at the 12th World Peace Forum in Beijing, Morgulov noted the increasing volume of Russia's transactions in national currencies with other BRICS nations.
He highlighted that Russia-China trade has reached $240 billion, with 92% of settlements in rubles and yuans.
Morgulov emphasized that BRICS is moving away from dollar dominance, developing mechanisms for an independent financial system.
Although a new single currency is not imminent, the group, which now includes Brazil, Russia, India, China, South Africa, Ethiopia, Iran, and Egypt, is progressing toward this goal.
"We are leaving the dollar-dominated space and developing the mechanism and tools for a truly independent financial system," he stated by RIA Novosti.

The largest package of tax cuts

President Donald Trump: We passed the largest package of tax cuts in American history, saving the average family of four over $5,000 a year.
Source:www.youtube.com

The financial system is changing right now

Russian minister says: we are working on digital One World One Currency for trade - local media.
Russian financial messaging system will be able to replace SWIFT - financial infrastructure will work smoothly - Russian Central Bank Chair.
Stocks booming in Chinese SWIFT alternative - CIPS.
The Cross-Border Interbank Payment System (CIPS) is a payment system that offers clearing and settlement services for its participants in cross-border RMB payments and trade.
It is a significant financial market infrastructure in China.
CIPS is sometimes referred to as the China Interbank Payment System.
Bank of Russia Resumes Gold Buying After Two Years on Sidelines.
Russia-Ukraine war is 'a financial war now': Deutsche Bank

Gold is the future as inflation coming in hot

Federal Reserve Chairman Jerome Powell keeps telling us not to worry about rising prices, assuring us that any increase in price inflation is transitory. It appears most of the mainstream is buying this hook line and sinker.
The collapse of fiat currencies will demolish the state theory of money, and not for the first time. Irrespective of how long it takes, the rapid loss of fiat currencies purchasing power means that governments will no longer be able to finance their obligations. There will, therefore, come a point where fiat money must be abandoned in the search for monetary stability. The demise of fiat is the demise of state money and the function of its replacement will be to restore public trust.
The replacement money can only be based on something in governments possession. And either in their treasury departments or central banks, other than each others fiat they only possess gold in their monetary reserves.
Sources: kingworldnews.com, schiffgold.com