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"Russian Finance Minister Anton Siluanov says BRICS members are working on various financial innovations including the development of a "digital" cross-border payment system to carry out monetary services within the economic bloc"
De-dollarization is what makes Trump shit his big baggy pants.
"Trump has threatened BRICS member countries against any move that undermines the “mighty US dollar,”
BRICS are now stronger/bigger than the US.
@NotImpressed for a very long time the MO of the USA has been to lend large amounts of money to developing countries, creating a debt which they then have to pay back to the USA over decades plus interest.
But since the dollar is a fiat currency and they issue it themselves it cost the USA absolutely nothing to give the loan in the first place. No wonder they are panicking that the world is going to stop using the dollar - their little scam is coming to an end.
@peterbrown
Absolutely. The US should learn to co-operate commercially with the BRICS