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"The west is terrified of BRICs" - Charles Bausman during BRICs 2024.
Charles Bausman shares with João (https://linktr.ee/odemiralivrepodcast) his impressions after three days of BRICs summit.17
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"Russia, which chairs the BRICS group this year, has called on its partners to create an alternative to the International Monetary Fund (IMF)"
Related tangent:
Linking fast payment systems across borders: considerations for governance and oversight
This consultative report - issued as part of the G20 cross-border payments programme - describes initial considerations on governance and oversight for fast payment system (FPS) interlinking across borders.www.bis.org
They published a 29 page PDF/paper on the subject. So much effort in trying to build a network of proprietary systems that would yield the same results as just using a decentralized crypto platform that can already deliver the desired benefits right now.
The Bank for International Settlements is debating whether to shut down a pilot cross-border payments platform after Russia's President Vladimir Putin identified the underlying technology as a tool to circumvent sanctions and potentially undermine the dollar's dominance in the global financial system.
The mBridge project -- which promises to allow sending money around the world without relying on U.S. banks -- was among topics discussed by central banks and finance chiefs at last week's annual meetings of the International Monetary Fund and World Bank in Washington, according to people informed about the talks. Shutting it down was among the options, the people added, asking not to be named discussing confidential deliberations.
Agustin Carstens, the BIS general manager whose term ends in June, said Saturday at an event of the Group of 30 in the U.S. capital that "we cannot directly support any project for the BRICS because we cannot operate with countries that are subject to sanctions. I want to be very clear about that."
The United States has been increasingly using the dollar's role as a key conduit of financial transactions worldwide to implement international sanctions, in particular after Russia's invasion of Ukraine. This has prompted attempts to seek alternatives that would be safe from U.S. interventions, even though the dollar remains the main currency of international trade and there are little signs this will change any time soon. ...
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Today we have more than 100 staff working in our seven Innovation Hub centres in eight locations throughout North America, Europe and Asia, as well as a strategic partnership with the Innovation Centre of the New York Federal Reserve.
The Innovation Hub undertakes projects across six broad themes: (i) suptech and regtech, (ii) next generation financial market infrastructures, (iii) open finance, (iv) cyber security, (v) green finance and (vi) central bank digital currency, or CBDC. Our CBDC work accounts for a large part of the Innovation Hub's project portfolio and certainly accounts for much of the public attention. ...
Whoa. I did not see that coming. It's not like the BIS should be suddenly surprised by the revelation that the BRICS were interested in mBridge or that mBridge allows participants to avoid using the dollar or SWIFT level sanctions/control. I thought they were on board with the plan as these things were painfully obvious, but it appears they were, in fact, blind and stupid (and are now embarrassed).
Ringside seat.I am beginning to believe that although I was born in 1940, I have a darn good chance of living long enough to witness a total upheaval and destruction of all that we now consider standard and normal.
Interesting times. 有趣的
That's why it is good to have been born in 1940. I remember ration books and blackout curtains.Ringside seat.
I wonder if anyone will survive to profit from what we see.
In the panoramic novel Lucifer's Hammer, there was a short vignette of the moment the comet strikes Earth. Two archeologists are digging ruins out of an ocean cliff.
The sky is ablaze. The older one covers his face. until the blazing orb disappears into the ocean.
He looks at his apprentice and says: "I hope you covered your eyes."
The apprentice is frantic. "I think I'm blind!"
To which the older one says: "I don't think it matters."
The younger one turns to scream a curse at him, and then stops, silent. That quickly, he realized what he meant - as the ocean pulled back, the tsunami rolling in.
That may be us. What we learn, what justice or schadenfreunde we might feel, is probably gonna be lost.
Conspiracy theories about a so called New World Order (NWO) and a one world currency have been around for a long, long time. So long that most people, who are not disposed to giving conspiracies a moment's thought, and who have been paying attention to the global economic news, have to be a little unnerved by mainstream reports of global banking institutions talking about the potential for the Dollar to lose it's role as the world's reserve currency.
There is a mostly invisible war occurring right now. It's invisible to the unwashed masses who are not paying attention. It behooves every individual to learn about it so that they have the opportunity to make choices and potentially influence the outcome.
Timeline
10/10/08:
10/15/08:
12/04/08:
03/17/09:
03/18/09:
03/24/09:
03/25/09:
03/25/09:
04/24/09:
04/28/09:
05/14/09:
08/17/09 - Jim Rickards talks about the IMF's QE program with SDRs undermining the dollar:
09/03/09:
09/07/09:
09/27/09:
10/01/09:
10/27/09:
02/28/10 - Tungsten filled gold bars exposed:
04/26/10:
05/05/10:
06/30/10:
08/05/10:
08/26/10:
09/07/09:
09/08/10:
09/14/10:
11/07/10 - Robert Zoellick, the World Bank chief, a former US Treasury official and former managing director of Wall Street bank Goldman Sachs published a statement in the FT calling for a global currency of sorts to be centrally managed using gold as a measuring stick:
01/24/11:
01/30/11:
01/31/11:
Full Rickards interview: http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/1/31_Jim_Rickards_files/Jim Rickards 1:31:2011.mp3
02/07/11:
More on the GLD redemptions: http://fofoa.blogspot.com/2011/01/who-is-draining-gld.html
02/10/11:
02/14/11:
02/22/11:
03/22/11:
04/14/11:
05/02/11:
05/17/11:
06/13/11:
07/14/11:
08/01/11:
08/03/11:
08/04/11:
08/17/11:
08/17/11:
08/17/11:
08/19/11:
08/23/11:
08/29/11:
08/30/11 Ned Naylor-Leyland discusses PAGE and the Renminbi:
09/05/11:
09/08/11:
09/14/11:
09/18/11:
09/19/11:
10/24/11:
Commentary
There is a lot missing from that timeline, but I hope I included enough to show that gold is center stage in this currency war among nations and central banks.
I have a hard time imagining that there is sufficient political support for establishing a global central bank or global currency given the vivid pain the Euro is experiencing right now. The warts of central banking with fiat currencies are being exposed and I believe that people are waking up to the reality of the problem.
As things play out, I can see a move to restoring some form of precious metals backed currencies world-wide. It appears that most of the world's central banks are already desperately trying to shore up their gold reserves.
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