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The Shanghai Cooperation Organization (SCO) is advancing talks on a unified payment system to increase national currency use, aligning with BRICS efforts to counter Western economic dominance. A New Era? SCO’s Talks on Unified Payment System Revealed Shanghai Cooperation Organization (SCO) Secretary-General Zhang Ming detailed efforts to create a unified payment system among SCO member … Read more
The G7’s finalized deal approving a Russian assets-backed loan of $50 billion to support the Ukrainian war effort has the potential to upset the Western financial system. Critics state that the U.S. and other countries may face repercussions, including losing the trust of some of their allies. Russian Assets-Backed Loan Has the Potential of Changing … Read more
Morgan Stanley analysts caution that the 2024 U.S. presidential election could unleash severe market volatility, driven by prolonged ballot counting, economic uncertainty, and unpredictable voter sentiment. Election Delays and Surprises: Morgan Stanley Predicts Shifts in Market Paths Morgan Stanley analysts Monica Guerra and Daniel Kohen examined the potential market impacts of the 2024 U.S. presidential … Read more
With 5,255 delegates attending, the 16th BRICS Summit in Kazan focused on building a “multipolar world order” and reducing reliance on dollar-based systems. With Over 5,000 Delegates, BRICS Summit Sends a Message to the Dollar’s Dominance More than 5,000 delegates gathered in Kazan for the 16th BRICS Summit which took place from Oct. 22-24, marking … Read more
BRICS has condemned Western economic dominance and currency control tactics, accusing the West of using reserve currencies as “weapons” to maintain its monopoly. BRICS Says No to Western Monopoly, Criticizes Currency Control Strategies Russia’s Deputy Foreign Minister and BRICS Sherpa Sergey Ryabkov has clarified that the BRICS alliance is not intended as an anti-Western bloc … Read more
The Russian Finance Minister offered insight into the inner workings of the new BRICS payment system at the recent summit held in Kazan. Anton Siluanov stated that the modern system will take digital financial assets into account and will be able to deliver financial messages. BRICS Proposed Payment System Might Use Digital Assets as Currencies … Read more
Iran’s president slammed the UN Security Council and International Monetary Fund (IMF) at the BRICS summit, accusing them of losing effectiveness due to Western interference. He called for BRICS nations to reduce reliance on Western financial systems and push for a new global order. The president urged the bloc to strengthen alternative institutions and reshape … Read more
Western efforts to isolate Russia have faltered as 36 nations attended the BRICS Summit in Kazan, a Russian official has declared. The BRICS leaders summit, chaired by Russia, saw 22 high-level delegations, highlighting Russia’s continued global influence despite sanctions and efforts by the U.S. and EU to marginalize it. West’s Isolation Strategy Fails: 36 Nations … Read more
Jan Nieuwenhuijs, a seasoned gold market analyst, has observed a change in gold purchasing flows, stating that while the East previously drove prices up, Western investors are now in charge of pushing the gold market to new heights. However, a ‘perfect storm’ for gold prices might ensue if the East starts buying again. Western Investors … Read more
President Javier Milei has taken yet another step in reducing the size of the state. Through the President’s Office X account, Milei revealed that he would axe AFIP, the current tax enforcer in Argentina, replacing it with a simpler, smaller agency, eliminating over a third of the institution’s current structural organization. President Javier Milei Announces … Read more
