patrick.net

I've recieved the report Improvement of the International Monetary and Financial System which the Russian Ministry of Finance prepared for BRICS+ finance ministers. Key takeaways:
- NO NEW CURRENCY, not gold-backed, not commodity basket, not currency basket, not Unit crypto scam;
- Core principles of security, independence, inclusion, and sustainability will underpin new IMFS;
- No new payment system is agreed, but they're working on parallel developments in messaging (replace Swift) and domestic payments interoperability;
- Russia has proposed to BRICS Central Banks a supranational infrastructure common settlement platform, but this is not agreed;
- Russia proposes a BRICS Clear platform for inter-depository settlements (supplement or replace Euroclear and Clearstream);
- Outsize reserves in USD need sovereign reassessment;
- EMDE funding vulnerability needs urgent review;
- New Development Bank should embody core principles and serve as example to others;
- IMF and SDR not keeping up with world needs;
- BRICS Credit Rating Agency hindered by third-party restrictions, USD reliance, data collection, and common analytics framework.

https://x.com/Kathleen_Tyson/status/1845817497032732857

Between the new magic BRICS currency and my Iraqi Dinar investments, my retirement is set!

I wonder how many flights to Kazan are being cancelled now?

DemocratsAreTotallyFucked says

I wonder how many flights to Kazan are being cancelled now?

Reserve currency means foreign countries mostly hold US dollars as short term US Treasuries. That helps in increase demand for US Treasuries. However, examine how China has slowly reduced its US Treasuries holdings since 2014.

The Social Security Trust Fund, Federal Reserve (along with American 401k and IRA account holders) are the number 1 buyer of US Treasuries, not China, Japan, or any of the foreign countries combined.

A lot of these American account holders have at least 40% in US Treasuries (i.e., like Vanguard Lifestrategy Moderate Growth Fund).

My guess is the US federal government remains solvent by eventually reducing Social Security payments to "rich and well-off senior citizens", as part of some means test.

.

AD says

Reserve currency means foreign countries mostly hold US dollars as short term US Treasuries. That helps in increase demand for US Treasuries. However, examine how China has slowly reduced its US Treasuries holdings since 2014.

Selling USTs increases demand for USDs, actually.

LOL, South Africa.

The only thing funnier than that is India and China agreeing to share a currency.

Brazil, Russia, China, and South Africa sounds like a recipe for massive corruption.

I'd put more trust in Iraqi Dinars

https://www.gulf-times.com/article/692826/opinion/the-brics-still-dont-matter

BRICS issued toilet paper:



See the Taj Mahal? That's a tomb.

Still, ppl would rather have this than the euro:

DemocratsAreTotallyFucked says

"What is happening to the Euro?"

The Globalist Nazis want to bankrupt Europe. Recall that the they blew up the
Nord Stream pipeline and were proud of the fact.

The_Deplorable says

The Globalist Nazis want to bankrupt Europe. Recall that the they blew up the
Nord Stream pipeline and were proud of the fact.

The euro is used to back pegged currencies in Africa (West African CFA franc & Central African CFA franc) like the USD is for the currencies used many the Carribean and Latin American countries. On top.of that, the 500 euro note is popular with money launders over the $100 note.

But that data refers to SWIFT transactions. I never knew the euro was processed via SWIFT. Learn something new every day.

So, does this really mean that the drop is likewise only in said SWIFT transactions? Because the euro probably is transacted outside of SWIFT, like in intra euro zone transactions.

https://www.bbc.com/news/articles/c624m4kgrg3o

Yup. Brazil definitely sabotaged the BRICS summit.

https://open.substack.com/pub/doomberg/p/lula-hoops

In a huge statement following the US Election, the European Union (EU) has said it will purchase oil from the United States, not BRICS member Russia. Indeed, European Commission President Ursula von der Leyen said Friday that the union is considering replacing Russian liquefied natural gas (LNG) imports with those from the US. The move would be a huge one in the West’s battle against BRICS, one where the US already has multiple sanctions over Russia.

https://watcher.guru/news/eu-ditches-brics-opts-for-us-oil-over-russian-supply

DemocratsAreTotallyFucked says

"In a huge statement following the US Election, the European Union (EU) has
said it will purchase oil from the United States, not BRICS member Russia."

These are the Globalist Nazis talking. Not the free Europeans. A free Europe will buy Russian
oil and gas because it is cheaper.

The_Deplorable says

A free Europe

No such animal.

A free Europe will buy Russian oil and gas because it is cheaper.

DemocratsAreTotallyFucked says: "No such animal."

True. Not yet...

That is why Europe's Globalist Nazis are purchasing oil from the United States,

The_Deplorable says

A free Europe will buy Russian oil and gas because it is cheaper.

DemocratsAreTotallyFucked says: "No such animal."

I remember Trump telling EU and NATO about how they are dependent on their adversary (Russia) for energy security.

He naturally got mocked by the left for this.

A few years later, Anthony Blinken smirked during a news conference about how Germany can buy LNG from America after the Nordstream pipeline disaster.

It will be interesting how this resurfaces during the negotiations with the Kremlin.

.

https://www.youtube.com/live/Quzf5l5YASs?si=HhWjOXPgW15lT7xX

DOGEWontAmountToShit says

And it's related to bricks and dedollarnazification exactly how?

BTW, the mighty Rubble is less than 0.9 US cents now.

DOGEWontAmountToShit says

I wonder how many flights to Kazan are being cancelled now?

there’s no trade between us and Russia

FortwayeAsFuckJoeBiden says

DOGEWontAmountToShit says

I wonder how many flights to Kazan are being cancelled now?

there’s no trade between us and Russia

Most dollars are traded between countries other than the US.

RWSGFY says

And it's related to bricks and dedollarnazification exactly how?

Mis-fire. Good catch.

Meant to upload this one:

AD says

My guess is the US federal government remains solvent by eventually reducing Social Security payments to "rich and well-off senior citizens", as part of some means test.

As it should be.

They should also means test all of the young people on SS disability. They're a lot of able bodied people that get SSDI. Social Security and welfare office's main purpose is to pay administrators and perpetuate poverty.

https://truthsocial.com/@realDonaldTrump/113573130299319701

Wow! Bitcoin props up USTs and also the dollar. Amazing.