BRICS New Development Bank breaks away from US dollar t.co/qnm8lSB2Ty
— Gilda Morkert (@g_morkert) April 24, 2023
In a bold move that challenges the US-dominated World Bank, the New Development Bank (NDB), established by the BRICS group, embraces local currencies for its loans.
NDB President Dilma Rousseff has confirmed that the bank plans to provide 30% of loans in local currencies of its member nations, effectively moving away from using the US dollar in international trade.
www.msn.com/en-us/money/markets/brics-new-development-bank-breaks-away-from-us-dollar/ar-AA1aebR8?ocid=msedgntp&cvid=92d813c8a11946cfb83a227429b627c8&ei=10
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one theory: Mar 31, 2023
Let’s discuss the US Dollar as a reserve currency, China’s recent plan to disrupt the dollar, and what this means for the future
Steve Forbes is back!!
Skip to 1:45 in this video for some GOOD news for the US dollar!!
Apr 13, 2023
Steve Forbes explains why the Chinese Yuan will not replace the US Dollar s the world’s reserve currency.
this analyst is a bit more pessimistic! either way, this issue is important!
BRICS New Development Bank now offers loans in local currencies instead of US dollars. pic.twitter.com/PnMBwVF51E
— Watcher.Guru (@WatcherGuru) April 23, 2023
BRICS development bank are lending and trading with each other without using the US dollar. More countries are joining BRICS.
Bye bye fiat. pic.twitter.com/f80JqbQmMY— Qmum (@Nancy023922191) April 24, 2023
The head of the New Development Bank ,NDB (BRICS bank),says they are committed to give out 30% of credits in local currencies by 2026.
De-dollarizing……
Welcome to the multipolar world:
The head of the New Development Bank ,NDB (BRICS bank),says they are committed to give out 30% of credits in local currencies by 2026.
De-dollarizing……
(Dilma Vana Rousseff) pic.twitter.com/Q5nSXzU15X
— Richard (@ricwe123) April 18, 2023
De-dollarization is real and is happening fast.
Dollar share when from 73% (2001) to 55% in (2020).
Went from 55% to 47% since sanction launched on Russia, now de-dollarizing at 10x faster than the previous two decades. #gold #silver— Wall Street Silver (@WallStreetSilv) April 24, 2023
China’s equity in the BRICS New Development Bank is exactly the same as the other four founders, while the US is the largest shareholder in the IMF and World Bank, with veto power.
You can see the difference.
China's equity in the BRICS New Development Bank is exactly the same as the other four founders, while the US is the largest shareholder in the IMF and World Bank, with veto power.
You can see the difference. pic.twitter.com/9mEnJgb4wj
— DaiWW (@BeijingDai) April 17, 2023
BRICS Bank Is Used As a Tool For The Bloc’s Economic Agenda
Egypt Joins the BRICS New Development Bank!!!
CGTN Europe
As a move to address the perceived U.S. hegemony of the IMF, Russia is ready to develop a new global reserve currency alongside China and other BRICS nations in a potential challenge to the dominance of the U.S. dollar. This chess move will allow BRICS to build their sphere of influence and unit of currency within that sphere.
South African President Cyril Ramaphosa has claimed that Saudi Arabia wants to join BRICS. He says Crown Prince MBS showed interest in joining the bloc during his recent meeting with him. Is Riyadh trying to disassociate itself from the West? Molly Gambhir reports.
h/t Spock