New currency proposed for BRICS bloc - Brazil, Russia, India, China, South Africa - to rival dollar
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- Опубликовано: 13 апр 2023
- Video via CNN Newsource.
The proposal was made by Brazilian President Lula Da Silva during a state visit to China. CNN Brasil reporter Americo Martins explains.
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Congratulations for covering this. People in the west hear very little about BRICS, the countries that want to join it (like Turkey, Mexico, Indonesia, Argentina, Saudi Arabia, UAE, Egypt, African countries) as well the SCO and ASEAN trading blocks in Asia.
They are all doing business in other currencies than dollar more and more. Saudi Arabia and France are both buying in yuan.
The US dollar has been weaponized by American government for their foreign policy of sanctions, threats and theft.
So much is happening so fast the past 12 months and it seems many people haven't caught on in the western world what's happening on the three other continents.
We don't want Turkey to join it , make it join the other group not BRICS.
India doesn’t want nothing to do with china because china doesn’t want India to develop its military if they join the currency union. America will help India develop and now is moving its manufacturing companies to India. China will no longer make iPhones India will , other countries actually make trillions doing business with the US . china makes most of the American products, most of the credit card call towers are in India , if America decides to stop doing business with other it will hurt the world’s economy . Americans are the highest consumers in products . You talk about how bad America is when other countries need help they ask America example the Philippines asked Americans for help to make china leave because they were treating the people badly.
@@Jaishankar_s_supremacy qual é seu whatsapp?
@@Jaishankar_s_supremacy Who's we? That's up to the Turks. Turkey needs to align with the east not the west to survive.
It is High time for the western world to be brought to its knees.
Dear Heavenly Father forgive me for my sins and for the sins and unjust my ancestors have caused.
Sotaque BR entendo 100% 😂
Total!!! Just take some RP lessons to get it better !
Sem dúvida kkkkk
Total! Kkkkkk
Joel santana schooll
Kkkkkk tbm percebi kkkkkk
They just want to trade using their own currency.
USD will be used when trading with US
The problem is, Americans are rich due to the strength of USD, if these countries decides not to use USD, Americans will lose their wealth very quickly
Nations are dropping use of dollar while US is funding war in Ukraine. Thanks to Putin!!
@@jonathanwergebaegerwoodwil5144o u want to be the monopoly and hegemony who provides freedom to other countries???
@@jonathanwergebaegerwoodwil5144 if the US move their call towers out of India and stop having China to manufacture their products they will go broke
The USD will be cheaper than toilet paper.
The USA has nothing to trade.
Her presidents did a great job destroying everything from within.
World is sick and tired of US Imperialism 😂
BRICS bloc are globalist working for the New World Order, don't get tricked!
It’s the corrupt US politicians…not the “US”…see how you feel after living under communism for 10 years…Chinese are biggest racist on globe!
Goodbye America 😂😂😂
Thanks God, finally the new BRICS payment system is officially launched.....
Continental/ Regional Representatives (Contrep) should adopt policies to look after the interest of their regional countries, eg 1) Prevention of raw minerals/ mining being exploited and exported as raw even by Brics member. If a country can't handle downstream processing, let the Contrep member/ neighbour do it as JV. 2) Common denomination currency among Contrep and use of alternative to Swift. 3) Alleviates poverty by surplus donation of food grains/ wheat, rice. 4) Humanitarian assistance to the down trodden community eg Rohingya, Burma minorities, Palestine, Syrian refuges, etc. 5) Join productions of armament, materials and counter trades. 6) Facilitates communications, road links and ports, many more.
i want to know what will happen to all their respected currencies? are they going to lose value? and "melt" or "fuse" how with the new currency?
i think this can go two ways.
First option they can all drop their currencies and follow Europe system, with all the members using one currency regulated by the BRICS Central Bank.
second option, they all keep using their currency in ther countries, but for trade they use this intermediary currency, just like everyone use dollar this days.
Currencies will remain as they are. However, trading will be done using the R5 currency, pretty much like the Euro.
It's a trade currency it's not for the population to use
Thanks from USA, Chicago, IL
Why don't cannels check their volume before publishing videos
What platform can I buy new Silk Road brics coin? In USA
The US arranged 150 billion for the war in Ukraine, but only had 50 million for the Amazon preservation fund. Everyone has their priorities and they must reap what they sow.
This
@jusbreath This is shit money, America can roll it up and shove it up its ass
The only green thing in this ecology scheme are dollars that activists get by pretending they care about something else.
Exatamente, exatamente.
@jusbreath
The USA will soon pay the price for all sorrow they've caused worldwide.
No one will shed a tear when she goes down.
THE DEVIL'S CURRENCY TO CONTROL GOD'S CHILDREN
The U.S. should ask to join brics
True kkkk
The fact that there will be more option to do trade with own currencies in the future. Its not necessary for a country to trade with dollar anymore since the people just want to trade with own currencies. Its Good for the world.
👍👍👍
Oi obrigada por fala brasil
Hmmm.....what bank in what country do I feel my savings are safe.... none of the above.
Russia's money was not safe through the Western system of transactions-SWIFT. As a result, it has been frozen following Ukraine war.
The banks are broking in the U.S. though
many more feel safe with those nations
@@briant5685 Even those states don;t trust eachother, and citizens in each of them KNOW and experience how their states are stealing and trying to trap their wealth.
@@briant5685 you feel safe with south africa or Russia?
Good decision
The brics association that will be established needs to create a currency that is based on the value of gold, not the value of the currency of the members of the organization
GOLD 🏅
What is the new currency of Brics??????
Not happening! No chance !
All countries need to abandon the US dollar
Modi need to play a big role in BRICS currency
The Yuan is one o the five major currencies approved by the IMF back in 2015. It has the same ranking as the US dollar, the British pound, the Euro, and the Japanese Yen. Why would a new currency be needed?
Having the same ranking doesn't mean anything when it comes to countries' reserve and preferred trading currency. They are two entirely different concepts.
@@ayw5118 It is not the ranking. It is the approval of the IMF board of directors for Special Drawing Rights in 2015. Here is headline that sheds some light ["IMF Adds Chinese Renminbi to Special Drawing Rights Basket-IMF]
Ahhhh yes give up your currency entirely into the hands of China to control. Until the Ukraine War forced Putler to pull next level jiggery pokery with the Ruble the Yuan was the most manipulated currency in the world
@@ayw5118 Too much importance is put on preferred trading currency and currency reserve. As a person that has done a lot of international business, the body of law used in contracts is far more important. The body of law is normally London, Deleware, LA, or Singapore.
Similar to the EURO, and the clear thoughts and perspectives of CHINA and EU regarding BRICS and businesses, these introduction of a new currency that consists the BRICS participating countries, is to give an excellent way in exercising TRADE, Practices of Commerce, both exports and imports are reconciled, inclusive of TAXES and Taxation standards of Excellence as BRICS exemplifies for the businesses sectors and its long term INVESTMENTS, TANGIBLE INVESTMENTS and GRADES of excellence, attested and designed for the BRICS countries.
It could be a good idea if they are 8 by Y2028 .
Oh! The Brazilian economy and its many western investments! Walking through cities and neighborhoods always reminds us of the past! How much nostalgia, there's no way not to remember the old series of Tarzan and Jim das Selvas looking at the ends of the telephone cables cut by thieves and hanging from the power poles. memory of when the heroes cut the vines to drink water! Not information via cable or internet better try telepathy. Thieves used to wear masks and today they smile for the cameras.
A Chinese customer suggested paying me in reais instead of dollars.
Está mais que certo tem que usar uma moeda própria uma vez que dólar muito caro é moeda de Americano e Europeu!
Ps: where is my 10 million dollars :D?
Just to add what currency do you want your western aid in,or will BRICS handle that,good luck.
Brics5 - Brazil, Russia, India, China, South Africa
Buy XRP, XLM, XDC asap!
I believe the BRICS currency will be used only among BRICS nations. They would not want the toilet paper US dollars to be exchanged with the new currency where it can be converted to gold.
that pseudo-currency is just a joke.
Mexican y Canadá 🍁 for BRICS 😅😅
BRICS as it stand acronym for 5 countries. If other members want to join, then change the name altogether or form another union of countries representing each continents/ regions of larger population and GDP, such as Argentina, Bangladesh, Ethiopia (Afr), Egypt (ME), Indonesia, Iran, Kazakstan, Mexico, Pakistan, Saudi, Turkiye. We refer as Continental Representative (CONTREP). Independent policy and may align/ adopt only good policies of Brics.
It will be called BRICS+
The name is a reference to the 5 main founders.
Pakistan is useless in brics
@@764ff
The founder was Goldman Sachs, lol.
@@wardi2012 The name will remain the same no matter who creates the 5 main countries are in the name. There are more than 10 countries wanting to participate.
Soon turkiye saudi arabia argentina mexico
Having a common currency might not be a great idea. We need to have clarity on multiple things.
- Does these BRICS has any charter for common goals and shared interests? EU is group of countries in one continent. But when countires from differnet continents are part of the group what additional challenges can come to play?
- If sanctions are imposed on any country within BRICS how rest in the group should deal with them?
- If any country goes bankrupt or has high debt would they become burden on others? We have seen in EU how some countries defaulting has caused problems for others.
- Incase a country goes to a war, or goes bankrupt how it will affect others?
- We have a country like China which is highly unreliable and not transparant. They may not honor all the agreements. So who will penalise them when found guilty?
- If currency is same would that encourage free movement, allow people to do jobs in the other countries just like EU? If not what is the point in having this common currency? How will we benefit with it?
- If any member country is involved in terror funding, how that will have to be handled? Would this common currency help terrorists for their activities?
- If one country in the group is in favor of any war and other is not and currency is same what would be impact?
Without having clarity on all the fronts India shouldn't vouch for this. Obsession to repalce US dollar shouldn't land us in new problems.
Hinduism has serious caste problems and human rights abuses of all time. even terrorism won't match with this grave sin.
Good questions.
I don't care one thing I know is that African countries are falling bcoz of the US Luke South Africa..things keep going up like crazy because of the US dollar...they are tired of having to use the American system which only benefits America more and more
And they will deal with any problems like how Neto does
@@Ah-nf2vs That is propiganda nonsense! The US dollar does not exclusively benefit the US. The uniform laws and standards benefit everyone. There is a bias towards investors. However, investors have their money at risk and borrowers do not. Oddly, if borrowers were better investors, they would not be borrowing money, they would be investing their cash!
I have a strong background in economics/ international business. I have lived in worked in 30 countries. I have setup businesses around the world, including in developing countries. Countries that have fully embrased the US / British leagle and financial system have prospered immensely (South Korea, Japan, Singapore, Australia, Canada, the EU, Poland, . . .). Countries with little inherent trust and a resulting poor legal system simply cannot benefit from the US / British systems. BRICS can attempt to create an alternative system. But, it will fail simply becuase investors have no trust in these countries legal systems.
Investors want constant expectations and the courts of these countries are corrupt, and inconsistent. Further complicating matter, if the BRICS countries had independent judiciaries, their leaders could not remain in office. (I led a business in India. Corruption is deeply entrenced in India. Bribery is required to get anything done in the Indian government. I do not think even Modi would stay in office.)
this dollor challanges is the worse we have seen lets hope the dollor stay stong
it wont stay strong, the dollar is based off of supply and demand that is trust. theother currencies are backed up by gold silver uranium and other minerals. dollar is printed out of thin air.
F that
America as we know it is finished. All indications point to 2023 being a year of severe economic pain across the country. Put that money to work right away to make it grow. I knew I had to make an investment. I never imagined that a few thousand dollars per month would add up. However, it is. I've made around $600,000 since 2020.
Congrats. The true financial unlock comes when you understand and know the technique required to manage your investment's overall risk profile and avoid permanent capital loss. It is critical to have a strategy in place to capitalize on profits when they occur..
How can I get in touch with Sofia? What are her offerings? Is she verifiable? Do you believe she can assist me? I am from Canada
@Rangaraj she actually appears to be well-read and educated. I just did a Google search for her name and found her webpage, I appreciate you sharing
la russie vient de perdre l'Algérie a cause du BRICS
From everyone who wants to joined bric's 😂😅
Ways to weaken the dollar are: 1) Joining efforts with BRICS towards a new collective currency 2) Stopping doing trades among nations using the dollar as an intermediate currency for transactions.
I am sorry, this will not weaken the dollar much. The demand for the dollar is principally driven by the demand for US goods and services.
@@MrTodayistheday Eventually the world hates America they have don’t have many friends
@@MrTodayistheday Who cares? We don't want the West's agendas anymore. We are free people. Now fuck off
Very good 🟢
Crypto
l'Algérie a pris la decision de rompre ses relations avec l'inde, et limiter ses relations avec la russie et la chine, puisque ces deux pays ont préféré les interets, l'Algérie après cet echec se retournera vers ses svrais interets......avec l'italie , la turquie l'allemagne et les USA
Trump 2024
Ih ala fingindo ser inglês kkkkkk salve
This is going to be funny. When the Chinese end Russian start taking over end want shit back.
End 😂 dried hollow economy after economy 😅 Brazil end beyond lolol
It looks like Monkeys could become the BRICS reserve currency. China is negotiating with Sri Lanka for lots of them to help stabilize this proposed currency.
The new currency will be called R5.
Oh I thought it was going to be called the Monkey Dollar
@@JoeyBlogs007 unfortunately not. But you can demand the US adminstration to rename the US dollar to monkey dollar or Bafoon dollar or whatever else you want it to be.
No this R5 will almost definitely be known as Monkey Dollars. I'm near certain of that. Either that or possibly the Orc Dollar. 1 million Orcs will equal about 1 US dollar.
@@JoeyBlogs007 I understand that you are still in the first stage of grief (ie. denial). But don't worry, other stages of anger, bargaining, depression and acceptance will follow suit sooner or later. And the exchange rate could still be negotiated to 1 million per dollar but this will also leave your inflation rates to a couple of million percent in that case. Since you are stil in denial, just follow closely to how many more banks will drop like nine pins or more banks get merged to save them, keep a close eye on gold prices and keep a close eye on bitcoin. It will help you get over the first stage of grief.
I completely called this. So many people are arguing with me. Luckily, the US loves to trade with all of these countries. If anything, China can start paying back the American banking system close to 50trillion owed is a lot of money.
Monkey 🐒 money
The promoters of BRICS do not appear to understand international trade. The dollar is used for four reasons. 1) It is stable. 2) It is universally accepted. 3) The banking system, originating in London, is built around the dollar. 4) Legitimate international trade uses the stable courts and law of London, Deleware, LA, or Singapore. Given the inherent poor integrity and amount of distrust between the BRICS partners, I cannot imagine that they will agree on the court of law used for dispute arbitration. As a person that has done a fair amount of international business, partners with dubious intentions will not agree on the court of law used for arbitration. They will want it undefined so that matters cannot be disputed. Let's see if they can agree on a court of law. :)
In all your reasons, the dollar being stable is actually the right reason, but that too is not the main reason, the most important reason is 1. It is freely coverable , 2. Institutional hegemony of USA, but now only the first reason is continuously working. In 2010 dollars were 71% in the reserve of all countries and in 2021 it was 61% but in 2022 it has come down to 47% in just 1 year in 2022 after using dollar as a weapon in war
BRICS countries are not gonna use dollar and Saudi Arabia joining it
Yeah russia seems don't understand that's, they r so stupid even after sanction, russia suffer huge losses, can't trade with other country and so suffering a lot, a lot of win 😅, why u think every single country outside US and EU r third world who stupid enough to challenge dollar, n mention Singapore r huge mistake they r chameleon not ur friend
@@Santanibalak1 There is a hidden benefit of the decreased dollar reserves. Increased dollar reserves caused dollar inflation. The reduction of reserves will reduce inflation :). I think this benefit far outweighs the benefit of the dollar being used as a reserve currency. :)
@@MrTodayistheday Yes, it is true that the dominance of dollar is not going to end completely even in the next 20 years because its closest competitor is Euro, but to make Euro powerful, Europe neither has army nor growing economy and Europe Most of the countries are under the permanent military occupation of USA, so they should avoid going against USA and as far as Yuan is concerned, no one trusts China, but right now dollar dominance is being challenged by regional powers like asean countries among themselves. Talking about trading in these national currency. And apart from this, India has already started trading in its currency in the Indian subcontinent and some African and Middle East countries along with UAE and Europe are already trading in Euro, BRICS are launching their own currency. China has started trade in its currency in big and small countries with the help of soft and hard power. Today the dollar accounts for 80-85% of world trade, which is likely to drop below 50% by 2030.
He can't say the word Huawei correctly. Gosh. 10,000+ viewers but has only 69 likes. People don't like this CNN reportliar.
1 million Monkey Orcs = 1 US dollar.
" monkey " um americano que nem sabe Geografia direito, talvez nem estuda isso, e acaba obeso de tanto arrogância
Good idea coutries should start avoiding trading n having US dollars as primary currency this is the beginning of the end for all the yankeee lol
India is now having conflict with china and asking the US for help lol
BRICS bloc are globalist working for the New World Order to enslave us all! Covid was the beta test!
Don’t trust that nonsense
India is a CCP "Belt & Road" recipient Puppet. The Rupee must Vow to Yuan/RMB projects throughout
India, made by China. Also, CCP wants a 3rd World Currency, the $ Euro, the $ Dollar, and last, the
$ RMB. But CCP is USING its Belt & Road Victims like Russia - to enforce the 3rd Yuan/RMB currency.
It will Shove the CCP currency down Putin, MBS, & India's throats, bc they are all Belt & Road puppets.
Its like monopoly money but way dumber 🤣🤣
Gd bye dollars $£😂😂😂😂