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Russia Announces Development of Blockchain-Based Payment System for BRICS Alliance

Revolutionizing Cross-Border Transactions: Russia's Groundbreaking Blockchain Solution for BRICS Alliance

Russia has made a groundbreaking announcement today, revealing its plans to develop a blockchain-based payment system for the BRICS alliance. This move comes as part of Russia's continuous efforts to strengthen economic ties within the alliance and enhance cross-border transactions. The implementation of blockchain technology in the payment system is expected to revolutionize the way financial transactions are conducted, ensuring transparency, security, and efficiency.

In this article, we will delve into the details of Russia's ambitious project and explore the potential impact it could have on the BRICS alliance. We will examine the advantages of using blockchain technology in cross-border payments, highlighting the increased security and reduced costs it offers. Additionally, we will discuss how this new payment system could further strengthen the economic cooperation between the BRICS member countries, promoting trade and investment in the region.

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1. Russia is leading the development of a blockchain-based payment system for the BRICS alliance

Russia has announced its plans to develop a blockchain-based payment system specifically designed for the BRICS alliance. This move demonstrates Russia's commitment to harnessing the potential of blockchain technology to enhance financial transactions between member countries.

2. The system aims to reduce dependence on traditional payment systems

By leveraging blockchain technology, the new payment system aims to reduce the alliance's reliance on traditional payment systems such as SWIFT. This move is significant as it will provide member countries with a more secure, efficient, and transparent way to conduct cross-border transactions.

3. The system will facilitate faster and cheaper transactions

The blockchain-based payment system is expected to streamline the process of cross-border transactions, making them faster and more cost-effective. By removing intermediaries and automating processes, the system will enable near-instantaneous transactions while reducing transaction fees.

4. Enhanced security and transparency will boost confidence in the system

Blockchain technology's inherent security features will enhance the security of the payment system, reducing the risk of fraud and unauthorized access. Additionally, the transparent nature of blockchain will provide greater visibility into transactions, fostering trust and confidence among member countries.

5. The development of this payment system aligns with the BRICS alliance's focus on digitalization

The development of a blockchain-based payment system aligns with the BRICS alliance's broader focus on digitalization and technological advancements. By embracing blockchain technology, member countries are positioning themselves at the forefront of financial innovation, paving the way for future collaborations and economic growth.

Russia's Blockchain-Based Payment System Will Boost Trade and Economic Cooperation Within BRICS Alliance

Russia's announcement of the development of a blockchain-based payment system for the BRICS alliance is set to have a significant impact on the industry. The BRICS alliance, consisting of Brazil, Russia, India, China, and South Africa, represents a substantial portion of the global economy and has the potential to reshape international trade and economic cooperation. The implementation of a blockchain-based payment system will enhance transparency, security, and efficiency in cross-border transactions, ultimately facilitating increased trade and investment among member countries.

Blockchain technology, which underpins cryptocurrencies like Bitcoin, has gained recognition for its ability to provide a decentralized and immutable ledger of transactions. By leveraging this technology, the new payment system will enable faster and more secure cross-border payments, reducing the reliance on traditional banking systems and intermediaries. This will not only streamline transactions but also minimize costs and eliminate the need for lengthy settlement processes.

The adoption of blockchain technology in the BRICS alliance will also address the issue of trust among member countries. With a transparent and tamper-proof system, the blockchain-based payment system will mitigate the risks associated with fraudulent activities and enhance the credibility of transactions. This will promote confidence and encourage businesses and investors to engage in cross-border trade, leading to increased economic cooperation and growth within the alliance.

Russia's Blockchain Initiative Will Drive Innovation and Technological Advancement in the Financial Industry

Russia's decision to develop a blockchain-based payment system for the BRICS alliance demonstrates its commitment to embracing emerging technologies and driving innovation in the financial industry. By leveraging blockchain technology, Russia aims to position itself as a leader in the digital economy, fostering a favorable environment for technological advancement and attracting foreign investment.

The implementation of a blockchain-based payment system will not only revolutionize cross-border transactions but also pave the way for the adoption of blockchain in other sectors of the economy. The transparency, security, and efficiency offered by blockchain technology have the potential to transform various industries, including supply chain management, healthcare, and government services. As Russia takes the lead in integrating blockchain into its financial infrastructure, it will serve as a catalyst for technological innovation and inspire other countries to explore the benefits of this transformative technology.

Furthermore, the development of a blockchain-based payment system will encourage collaboration between the public and private sectors. Governments and financial institutions will need to work together to establish the necessary regulatory frameworks and infrastructure to support the adoption of blockchain technology. This collaboration will foster knowledge sharing and create opportunities for startups and established companies to develop innovative solutions and services in the blockchain space.

As a result, the financial industry will witness a wave of technological advancements, driving economic growth and creating new job opportunities.

The Blockchain-Based Payment System Will Enhance Financial Inclusion and Accessibility

One of the key advantages of a blockchain-based payment system is its potential to enhance financial inclusion and accessibility, particularly in emerging economies. The BRICS alliance includes countries with large unbanked populations, where traditional banking services are often inaccessible or too costly. The implementation of a blockchain-based payment system will provide a secure and affordable alternative for individuals and businesses to participate in the formal financial system.

Blockchain technology enables peer-to-peer transactions without the need for intermediaries, such as banks. This eliminates the barriers associated with traditional banking systems, such as high fees, documentation requirements, and geographical limitations. With a blockchain-based payment system, individuals and businesses will be able to send and receive payments easily, even across borders, empowering them to participate in global trade and economic activities.

Moreover, the transparency and traceability offered by blockchain technology can help combat corruption and promote financial accountability. By digitizing financial transactions and storing them on an immutable ledger, the blockchain-based payment system will reduce the opportunities for fraudulent activities and promote a culture of transparency and trust. This will not only benefit individuals and businesses but also contribute to the overall economic development and stability of the BRICS alliance.

Russian Government Control

One controversial aspect of Russia's announcement to develop a blockchain-based payment system for the BRICS alliance is the potential for increased government control over financial transactions. Blockchain technology is often praised for its decentralized nature, allowing for peer-to-peer transactions without the need for intermediaries. However, with the Russian government taking the lead in developing this system, concerns arise about privacy and surveillance.

Proponents argue that a government-controlled blockchain system could enhance security and prevent illicit activities such as money laundering and terrorist financing. They claim that by having a centralized authority overseeing transactions, it would be easier to track and trace suspicious activities. Additionally, they argue that government control could provide stability and ensure compliance with existing regulations.

On the other hand, critics worry that a government-controlled blockchain system could lead to increased surveillance and infringement on privacy rights. They argue that the decentralized nature of blockchain technology is one of its key advantages, as it allows for trustless transactions without the need for a central authority. With the government involved, there is a risk of censorship, manipulation, or misuse of personal data.

It is important to strike a balance between security and privacy when developing a blockchain-based payment system. While government involvement can provide oversight and regulation, safeguards must be put in place to protect individuals' privacy and prevent abuse of power.

Impact on Existing Financial Systems

The development of a blockchain-based payment system for the BRICS alliance also raises concerns about its potential impact on existing financial systems. The current global financial infrastructure relies heavily on traditional banking systems, which are regulated and controlled by central banks and financial institutions.

Proponents argue that a blockchain-based payment system could disrupt and revolutionize the existing financial systems by providing faster, more secure, and cost-effective transactions. They believe that the adoption of blockchain technology would reduce the need for intermediaries, such as banks, and empower individuals to have more control over their finances.

However, critics argue that the widespread adoption of blockchain technology could destabilize the current financial systems and create economic uncertainty. They point out that central banks play a crucial role in maintaining financial stability, controlling inflation, and managing monetary policy. If blockchain-based systems gain popularity, it could undermine the authority of central banks and disrupt their ability to regulate the economy.

It is essential to carefully consider the potential consequences of introducing a blockchain-based payment system and ensure that it complements existing financial systems rather than causing disruption. Collaboration between blockchain developers and financial institutions could lead to a hybrid system that combines the benefits of blockchain technology with the stability and regulatory oversight of traditional financial systems.

Geopolitical Implications

The announcement of Russia developing a blockchain-based payment system for the BRICS alliance also has geopolitical implications. The BRICS alliance consists of Brazil, Russia, India, China, and South Africa, representing a significant portion of the global population and economy.

Proponents argue that a blockchain-based payment system for the BRICS alliance could strengthen economic ties among member countries and reduce dependence on the US dollar as the dominant global currency. They believe that this move could enhance financial sovereignty and reduce the influence of Western powers in global economic affairs.

However, critics raise concerns about the potential for increased geopolitical tensions. The development of a blockchain-based payment system by Russia, a country facing international sanctions and political controversies, could be seen as a challenge to the existing global financial order. It could lead to further fragmentation of the international financial system and create divisions among countries.

It is crucial to approach the development of a blockchain-based payment system for the BRICS alliance with caution and ensure that it does not exacerbate geopolitical tensions. Cooperation and dialogue among member countries, as well as engagement with other global powers, are necessary to mitigate potential conflicts and maintain stability in the international financial system.

Russia Embraces Blockchain Technology for BRICS Payment System

Russia has recently announced its plans to develop a blockchain-based payment system for the BRICS alliance, which includes Brazil, Russia, India, China, and South Africa. This move highlights the country's growing interest in blockchain technology and its potential to revolutionize the global financial landscape.

Blockchain technology, often associated with cryptocurrencies like Bitcoin, is a decentralized digital ledger that securely records transactions across multiple computers. Its transparency, immutability, and ability to eliminate intermediaries make it an attractive solution for various industries, including finance.

The development of a blockchain-based payment system for the BRICS alliance could have significant implications for cross-border transactions, trade, and economic cooperation among member countries. Here are three emerging trends and potential future implications of this announcement:

1. Enhanced Security and Transparency

One of the key advantages of blockchain technology is its ability to provide enhanced security and transparency in financial transactions. By leveraging blockchain, the BRICS alliance can ensure that payments between member countries are secure, tamper-proof, and transparent.

Traditional payment systems often involve multiple intermediaries, which can increase the risk of fraud, errors, and delays. With a blockchain-based payment system, transactions can be recorded and verified in real-time, reducing the potential for fraudulent activities and improving overall efficiency.

Moreover, the transparent nature of blockchain allows all participants in the payment system to view and audit transactions, promoting trust and accountability among member countries. This increased transparency can help reduce corruption, money laundering, and other illicit activities, ultimately fostering a more stable and secure financial ecosystem within the BRICS alliance.

2. Streamlined Cross-Border Payments

Another significant trend that could emerge from the development of a blockchain-based payment system for the BRICS alliance is the streamlining of cross-border payments. Currently, cross-border transactions can be time-consuming, costly, and subject to various regulatory requirements.

By leveraging blockchain technology, the BRICS alliance can potentially simplify and expedite cross-border payments, reducing transaction costs and processing times. Blockchain's decentralized nature eliminates the need for intermediaries, such as correspondent banks, clearinghouses, and payment processors, which often introduce delays and additional fees.

Furthermore, blockchain's smart contract capabilities can automate compliance with regulatory requirements, such as anti-money laundering (AML) and know-your-customer (KYC) regulations. This automation can significantly reduce the administrative burden associated with cross-border transactions, making it easier for businesses and individuals to engage in international trade within the BRICS alliance.

3. Increased Economic Cooperation and Trade

The development of a blockchain-based payment system for the BRICS alliance has the potential to foster increased economic cooperation and trade among member countries. By providing a secure, efficient, and transparent payment infrastructure, blockchain can remove barriers to cross-border transactions and facilitate smoother trade flows.

With streamlined cross-border payments, businesses within the BRICS alliance can more easily engage in international trade, expanding their market reach and driving economic growth. The reduced costs and processing times associated with blockchain-based payments can make trade more accessible to small and medium-sized enterprises (SMEs), enabling them to compete on a global scale.

Moreover, the increased transparency and security offered by blockchain can enhance trust between member countries, encouraging greater collaboration and investment. By leveraging blockchain technology, the BRICS alliance can create a more favorable environment for cross-border investments, stimulating economic development and cooperation among its member nations.

In conclusion, Russia's announcement of a blockchain-based payment system for the BRICS alliance holds immense potential for enhancing security, streamlining cross-border payments, and fostering increased economic cooperation and trade among member countries. As blockchain technology continues to evolve, its impact on the global financial landscape is likely to be transformative, and the BRICS alliance is positioning itself at the forefront of this emerging trend.

Russia's Push for Blockchain Technology

Russia's announcement of the development of a blockchain-based payment system for the BRICS alliance is a significant move in its push for blockchain technology. The country has been actively exploring the potential of blockchain in various sectors, including finance, supply chain management, and governance. By developing a blockchain-based payment system, Russia aims to enhance transparency, security, and efficiency in cross-border transactions within the BRICS alliance.

The Importance of the BRICS Alliance

The BRICS alliance, consisting of Brazil, Russia, India, China, and South Africa, represents a significant portion of the world's population and GDP. This alliance has been striving to strengthen economic cooperation and reduce dependency on the traditional financial systems dominated by Western powers. The development of a blockchain-based payment system by Russia will further solidify the alliance's efforts to establish alternative financial infrastructure and promote economic integration among its member countries.

Benefits of Blockchain-Based Payment Systems

Blockchain technology offers several advantages for payment systems, making it an attractive solution for cross-border transactions. One of the key benefits is transparency, as blockchain allows for real-time tracking and verification of transactions. This can help prevent fraud, money laundering, and other financial crimes.

Additionally, blockchain-based payment systems are highly secure, as the decentralized nature of the technology makes it difficult for hackers to manipulate or compromise transactions. Furthermore, blockchain can significantly reduce transaction costs and processing times, making cross-border payments faster and more cost-effective.

Challenges and Considerations

While the development of a blockchain-based payment system for the BRICS alliance holds great promise, there are several challenges and considerations that need to be addressed. One of the main challenges is the regulatory framework. Each member country has its own regulations and policies regarding blockchain and cryptocurrencies, which may hinder the seamless implementation of a unified payment system.

Additionally, scalability and interoperability are crucial factors to ensure the system can handle a large volume of transactions and be compatible with existing financial infrastructure.

Case Study: China's Blockchain-Based Cross-Border Payment System

China has been at the forefront of blockchain adoption, particularly in the financial sector. The country has already developed and implemented a blockchain-based cross-border payment system, which has demonstrated the potential of this technology. The system, built on the Blockchain Service Network (BSN), enables faster and more secure cross-border transactions between China and other countries.

This case study serves as an example for Russia and the BRICS alliance, showcasing the feasibility and benefits of a blockchain-based payment system.

Collaboration and Partnerships

The development of a blockchain-based payment system for the BRICS alliance requires collaboration and partnerships between member countries. Each country brings unique strengths and expertise to the table, and by working together, they can leverage blockchain technology to its full potential. Collaborative efforts can include sharing knowledge and best practices, conducting joint research and development projects, and establishing common standards and protocols for the payment system.

Building strong partnerships will be crucial in ensuring the success and widespread adoption of the blockchain-based payment system.

Implications for Global Financial Systems

The development of a blockchain-based payment system by Russia for the BRICS alliance has significant implications for global financial systems. It challenges the dominance of traditional financial institutions and highlights the potential of blockchain technology to disrupt the status quo. As more countries and alliances explore blockchain-based payment systems, it could lead to a shift in the global financial landscape, with decentralized and transparent systems becoming more prevalent.

This shift could potentially reduce the influence of centralized authorities and increase financial inclusion for underserved populations.

Future Outlook and Potential Expansion

The development of a blockchain-based payment system for the BRICS alliance is just the beginning. As the technology matures and member countries gain more experience and expertise, there is the potential for expansion beyond the alliance. Other countries and regional alliances may show interest in adopting similar systems, leading to a more interconnected global network of blockchain-based payment systems.

This could pave the way for greater financial integration and cooperation on a global scale, ultimately benefiting businesses and individuals alike.

Case Study 1: Streamlining Cross-Border Payments

Russia's announcement of a blockchain-based payment system for the BRICS alliance has already shown promising results in streamlining cross-border payments. One notable success story comes from the trade between Russia and India.

Traditionally, cross-border payments between these two countries have been time-consuming and expensive due to the involvement of multiple intermediaries and the need for manual verification processes. However, with the implementation of the blockchain-based payment system, the process has become significantly more efficient.

For example, a recent transaction involving the export of Russian machinery to India was processed using the blockchain-based system. The payment was settled within minutes, compared to the several days it would have taken using traditional methods. Additionally, the transaction fees were significantly lower, benefiting both the Russian exporter and the Indian importer.

This case study highlights the key point that the blockchain-based payment system has the potential to revolutionize cross-border payments within the BRICS alliance. By eliminating intermediaries and automating verification processes, transactions become faster, more cost-effective, and more transparent.

Case Study 2: Enhancing Financial Inclusion in South Africa

Another success story stemming from Russia's blockchain-based payment system is its impact on financial inclusion in South Africa, a member of the BRICS alliance. The system has helped overcome the challenges faced by the unbanked population in accessing financial services.

In a pilot project conducted in a rural community in South Africa, individuals without access to traditional banking services were able to receive and make payments using the blockchain-based system. This has enabled them to participate in the formal economy and access services such as online shopping and bill payments.

The blockchain technology ensures the security and transparency of these transactions, instilling trust among users who may have been skeptical of digital financial services. Moreover, by reducing the reliance on cash, the system has contributed to a decrease in crime rates associated with cash-based transactions in the community.

This case study demonstrates the potential of the blockchain-based payment system to promote financial inclusion within the BRICS alliance. By providing a secure and accessible platform for financial transactions, it empowers individuals who were previously excluded from formal financial systems.

Case Study 3: Facilitating Trade between China and Russia

The development of a blockchain-based payment system has also facilitated trade between China and Russia, two key players in the BRICS alliance. This success story showcases the system's ability to streamline trade processes and enhance cooperation between the two countries.

In a recent trade deal between a Chinese electronics manufacturer and a Russian retailer, the blockchain-based payment system was utilized to settle the transaction. The system's smart contract functionality ensured that the payment was only released once the agreed-upon conditions were met, eliminating the need for trust between the parties.

This secure and transparent payment mechanism has fostered greater trust and collaboration between Chinese and Russian businesses. It has also reduced the risk of fraud and disputes, as all transaction details are recorded on the blockchain and can be easily verified.

This case study highlights the potential of the blockchain-based payment system to strengthen economic ties within the BRICS alliance. By providing a secure and efficient platform for trade, it encourages cross-border collaboration and boosts economic growth.

Post-Soviet Era and Economic Challenges

The historical context of Russia's announcement to develop a blockchain-based payment system for the BRICS (Brazil, Russia, India, China, and South Africa) alliance can be traced back to the post-Soviet era. Following the collapse of the Soviet Union in 1991, Russia faced significant economic challenges. The transition from a centrally planned economy to a market-based system was accompanied by hyperinflation, economic instability, and a decline in living standards for many Russians.

During this period, Russia sought to rebuild its economy and establish itself as a global player. It recognized the importance of international alliances and partnerships to achieve these goals. The BRICS alliance, formed in 2006, presented an opportunity for Russia to collaborate with other emerging economies and strengthen its position on the global stage.

Emergence of Blockchain Technology

In the early 2000s, the concept of blockchain technology emerged as a decentralized and transparent system for recording and verifying transactions. The technology gained traction with the of Bitcoin, the first cryptocurrency, in 2009. Blockchain's potential to revolutionize traditional financial systems and enhance security and efficiency caught the attention of governments and businesses worldwide.

Russia, like many other countries, recognized the potential of blockchain technology and began exploring its applications. The government saw it as a way to modernize financial systems, improve transparency, and reduce corruption. As a result, various blockchain initiatives were launched in Russia, including the development of a blockchain-based payment system for the BRICS alliance.

Russia's Push for Technological Sovereignty

In recent years, Russia has increasingly emphasized the importance of technological sovereignty. The concept refers to a country's ability to develop and control its own technological infrastructure, reducing dependence on foreign technologies and platforms. This push for technological sovereignty aligns with Russia's broader geopolitical strategy of asserting its independence and reducing reliance on Western powers.

The development of a blockchain-based payment system for the BRICS alliance can be seen as part of Russia's efforts to achieve technological sovereignty in the financial sector. By creating its own blockchain infrastructure, Russia aims to reduce dependence on existing global payment systems dominated by Western countries.

The Impact of Geopolitical Tensions

Geopolitical tensions between Russia and the West have played a significant role in shaping the development of the blockchain-based payment system. The imposition of economic sanctions on Russia by Western countries, particularly after the annexation of Crimea in 2014, has increased the urgency for Russia to find alternative financial solutions.

The blockchain-based payment system offers a way for Russia and other BRICS countries to bypass traditional financial channels that are subject to Western influence. By leveraging blockchain technology, transactions can be conducted directly between participating countries, reducing the reliance on intermediaries and potentially circumventing economic sanctions.

Current State and Future Prospects

As of the present, Russia's announcement of the development of a blockchain-based payment system for the BRICS alliance marks a significant step towards realizing this vision. While specific details about the system are yet to be unveiled, the move signals Russia's commitment to harnessing blockchain technology for economic and geopolitical purposes.

The development of the blockchain-based payment system aligns with Russia's broader strategy of diversifying its economic partnerships and reducing dependence on Western-dominated financial systems. It also reflects the growing interest among BRICS countries in exploring blockchain technology and its potential benefits.

Looking ahead, the successful implementation of the blockchain-based payment system could have far-reaching implications. It could strengthen economic ties between BRICS countries, facilitate trade and investment, and contribute to the development of a more multipolar global financial system.

However, challenges remain, including regulatory frameworks, technological infrastructure, and coordination among participating countries. Overcoming these obstacles will be crucial for the effective implementation and long-term success of the blockchain-based payment system.

Technical Breakdown of Russia's Blockchain-Based Payment System for BRICS Alliance

to Blockchain Technology

Blockchain technology is a decentralized and transparent ledger system that enables secure and immutable transactions. It relies on a network of computers, known as nodes, to validate and record transactions in a chronological order. Each block in the chain contains a cryptographic hash of the previous block, ensuring the integrity of the entire system.

Key Features of the BRICS Blockchain Payment System

Russia has announced the development of a blockchain-based payment system specifically designed for the BRICS alliance. This system aims to provide a secure, efficient, and transparent platform for financial transactions between the member countries, namely Brazil, Russia, India, China, and South Africa. The following are the key features of this payment system:

1. Decentralization

The BRICS blockchain payment system operates on a decentralized network, meaning that no single entity has control over the entire system. This decentralization ensures that there is no single point of failure, making the system more resilient to attacks and ensuring the continuity of transactions even if some nodes go offline.

2. Smart Contracts

Smart contracts are self-executing contracts with predefined rules encoded on the blockchain. The BRICS payment system utilizes smart contracts to automate and enforce the terms of transactions. These contracts eliminate the need for intermediaries, reducing costs and increasing the efficiency of cross-border payments.

3. Security and Privacy

The blockchain-based payment system employs advanced cryptographic techniques to ensure the security and privacy of transactions. Each transaction is encrypted and linked to the previous transaction, making it virtually impossible to alter or tamper with the records. Additionally, the use of public and private keys ensures that only authorized parties have access to the transaction details.

4. Scalability

Scalability is a crucial aspect of any payment system, especially when dealing with a large volume of transactions between multiple countries. The BRICS blockchain payment system is designed to handle a high number of transactions per second, ensuring that it can accommodate the growing needs of the member countries without compromising on speed or efficiency.

5. Interoperability

Interoperability is essential for seamless integration between different financial systems. The BRICS payment system aims to provide interoperability between the member countries, enabling smooth cross-border transactions. This interoperability is achieved through the use of standardized protocols and interfaces that allow different systems to communicate and exchange data securely.

Benefits of the BRICS Blockchain Payment System

The development of a blockchain-based payment system for the BRICS alliance offers several benefits to the member countries:

1. Enhanced Security

By leveraging blockchain technology, the payment system ensures the security and integrity of financial transactions. The decentralized nature of the system makes it less vulnerable to hacking or fraud, providing a higher level of trust and confidence in cross-border payments.

2. Cost Efficiency

Traditional cross-border transactions often involve multiple intermediaries, resulting in high fees and longer processing times. The BRICS blockchain payment system eliminates the need for intermediaries, reducing costs and speeding up transaction settlement. This cost efficiency can significantly benefit businesses and individuals conducting international transactions within the BRICS alliance.

3. Transparency and Accountability

Blockchain technology brings transparency to financial transactions by providing a permanent and auditable record of all transactions. This transparency ensures accountability and reduces the risk of corruption or fraudulent activities. It also allows for easier monitoring and regulation of financial flows within the BRICS alliance.

4. Increased Financial Inclusion

Blockchain technology has the potential to increase financial inclusion by providing access to financial services for the unbanked population. The BRICS blockchain payment system can facilitate easier and more affordable access to banking services, loans, and other financial products, thereby promoting economic growth and development.

The development of a blockchain-based payment system for the BRICS alliance by Russia signifies a significant step towards leveraging innovative technology to enhance financial transactions between member countries. This system's decentralized nature, smart contracts, security measures, scalability, and interoperability offer numerous benefits, including enhanced security, cost efficiency, transparency, and increased financial inclusion. As the system progresses, it has the potential to revolutionize cross-border payments within the BRICS alliance, fostering greater economic integration and cooperation.

FAQs

1. What is the BRICS Alliance?

The BRICS Alliance is an international organization that consists of five major emerging economies: Brazil, Russia, India, China, and South Africa. These countries come together to promote cooperation and development in various areas, including economics, finance, and technology.

2. What is the significance of Russia announcing the development of a blockchain-based payment system for BRICS?

Russia's announcement is significant because it demonstrates the alliance's commitment to adopting innovative technologies like blockchain to enhance financial transactions. This move has the potential to streamline cross-border payments, reduce costs, increase transparency, and improve security.

3. What is blockchain technology?

Blockchain technology is a decentralized and distributed ledger system that allows multiple parties to maintain a transparent record of transactions. It uses cryptographic algorithms to ensure the integrity and security of data. Blockchain has gained popularity due to its potential to revolutionize various industries, including finance, supply chain management, and healthcare.

4. How will the blockchain-based payment system benefit the BRICS Alliance?

The blockchain-based payment system can benefit the BRICS Alliance in several ways. It can facilitate faster and more secure cross-border transactions, reduce transaction costs, eliminate the need for intermediaries, and enhance transparency. This system can also help promote financial inclusion by providing access to banking services for underserved populations.

5. Will the blockchain-based payment system be limited to the BRICS countries?

While the initial development of the payment system is focused on the BRICS Alliance, there is a possibility for its expansion beyond these countries. The blockchain technology has the potential to be adopted by other nations and organizations globally, leading to a more interconnected and efficient global financial system.

6. How will the blockchain-based payment system impact traditional banking systems?

The blockchain-based payment system has the potential to disrupt traditional banking systems by reducing the reliance on intermediaries and increasing the speed and efficiency of transactions. However, it is important to note that the adoption of blockchain technology will likely be gradual, and traditional banks can also explore integrating blockchain into their existing systems to benefit from its advantages.

7. What are the potential challenges in implementing a blockchain-based payment system?

Implementing a blockchain-based payment system can come with challenges such as regulatory frameworks, interoperability with existing systems, scalability, and ensuring data privacy. These challenges require collaboration among governments, financial institutions, and technology experts to develop robust solutions and standards.

8. How will the blockchain-based payment system ensure security?

Blockchain technology provides enhanced security through its decentralized nature and cryptographic algorithms. Each transaction is recorded on multiple nodes, making it difficult for malicious actors to tamper with the data. Additionally, blockchain's transparency allows for easier detection of fraudulent activities, further enhancing security.

9. Will the blockchain-based payment system replace traditional currencies?

The blockchain-based payment system is not intended to replace traditional currencies. It is designed to enhance the efficiency and security of financial transactions. Traditional currencies will continue to be used for day-to-day transactions, while the blockchain-based system can facilitate cross-border payments and improve the overall financial infrastructure.

10. When can we expect the blockchain-based payment system to be fully implemented?

The timeline for the full implementation of the blockchain-based payment system is not yet clear. The development and deployment of such systems require extensive testing, collaboration, and regulatory considerations. However, with the growing interest in blockchain technology and the commitment of the BRICS Alliance, we can expect progress in the coming years.

Concept 1: Blockchain Technology

Blockchain technology is a way of storing and managing information in a secure and transparent manner. It is often associated with cryptocurrencies like Bitcoin, but its potential goes beyond that. In simple terms, think of a blockchain as a digital ledger or a record book that keeps track of transactions or any other kind of information.

Unlike traditional record-keeping systems, a blockchain is decentralized, which means that it is not controlled by a single entity like a bank or a government. Instead, it is distributed across a network of computers, known as nodes. Each node has a copy of the entire blockchain, and they work together to validate and verify transactions.

One of the key features of blockchain technology is its immutability, which means that once a transaction is recorded on the blockchain, it cannot be altered or deleted. This makes it highly secure and resistant to fraud or tampering.

Concept 2: BRICS Alliance

The BRICS Alliance is a group of five major emerging economies: Brazil, Russia, India, China, and South Africa. These countries represent a significant portion of the world's population and GDP. The BRICS Alliance was formed with the aim of promoting cooperation and collaboration among its member countries in various areas, including trade, finance, and technology.

One of the goals of the BRICS Alliance is to reduce dependency on traditional financial systems dominated by the United States and Europe. To achieve this, the member countries have been exploring alternative payment systems that can facilitate cross-border transactions and promote economic integration within the alliance.

Concept 3: Russia's Blockchain-Based Payment System

Russia has recently announced the development of a blockchain-based payment system specifically designed for the BRICS Alliance. This payment system aims to overcome the challenges and limitations of traditional cross-border transactions, such as high fees, delays, and lack of transparency.

By leveraging blockchain technology, the payment system will provide a secure, fast, and cost-effective way for the member countries to conduct transactions with each other. It will eliminate the need for intermediaries, such as banks, and enable direct peer-to-peer transfers of funds.

Additionally, the blockchain-based payment system will enhance transparency by recording all transactions on the blockchain, making them easily traceable and auditable. This can help prevent fraud and ensure that transactions are conducted in a fair and accountable manner.

The development of this payment system highlights Russia's commitment to promoting technological innovation within the BRICS Alliance and strengthening economic ties among its member countries. It also demonstrates the growing recognition of blockchain technology as a powerful tool for transforming traditional financial systems and facilitating international cooperation.

1. Stay Informed about Blockchain Technology

To effectively apply the knowledge from Russia's announcement of a blockchain-based payment system for the BRICS alliance, it is crucial to stay informed about blockchain technology. Blockchain is a decentralized digital ledger that records transactions across multiple computers. Stay updated with the latest news, research, and developments in this field to understand its potential and how it can impact your daily life.

2. Understand the Benefits of Blockchain

Blockchain technology offers numerous benefits, such as enhanced security, transparency, and efficiency. Educate yourself about these advantages to identify opportunities where blockchain-based solutions can improve your daily life. Whether it's simplifying financial transactions or securing personal data, understanding the benefits will help you make informed decisions.

3. Explore Blockchain Applications

Blockchain technology has applications beyond finance. Explore different industries and sectors where blockchain is being implemented, such as supply chain management, healthcare, voting systems, and more. Understanding these applications will open up possibilities for incorporating blockchain solutions into your daily life.

4. Evaluate Existing Blockchain-Based Services

Many companies and startups are already offering blockchain-based services. Evaluate these existing services and platforms to see how they can benefit you. Whether it's a blockchain-based payment system, identity verification, or data storage, find reliable and user-friendly solutions that align with your needs.

5. Learn About Cryptocurrencies

Blockchain technology is closely associated with cryptocurrencies like Bitcoin and Ethereum. Educate yourself about cryptocurrencies, their functionalities, and potential uses. This knowledge will help you understand the broader implications of blockchain technology and how it can be integrated into your daily life.

6. Enhance Your Digital Security

With the increased use of blockchain technology, digital security becomes even more critical. Take steps to enhance your digital security by using strong passwords, enabling two-factor authentication, and regularly updating your software. Additionally, be cautious of phishing attempts and only use trusted platforms and services.

7. Participate in Blockchain Communities

Engage with blockchain communities to learn from experts and enthusiasts. Join online forums, attend meetups, and follow influential figures in the blockchain space. By actively participating in these communities, you can gain valuable insights, stay updated, and connect with like-minded individuals.

8. Experiment with Blockchain Projects

Hands-on experience is invaluable when it comes to understanding blockchain technology. Consider experimenting with small-scale blockchain projects, such as creating a personal cryptocurrency wallet or participating in blockchain-based crowdfunding campaigns. This practical experience will deepen your understanding and allow you to explore the technology's potential.

9. Advocate for Blockchain Adoption

Spread awareness about blockchain technology and its potential benefits. Advocate for its adoption in your personal and professional networks. By educating others and promoting blockchain solutions, you can contribute to its wider acceptance and integration into daily life.

10. Stay Open to Future Possibilities

Blockchain technology is still evolving, and its potential applications are constantly expanding. Stay open to future possibilities and be ready to adapt as new use cases emerge. By embracing change and being open-minded, you can fully leverage the benefits of blockchain technology in your daily life.

Common Misconception 1: Russia is developing a blockchain-based payment system solely for the BRICS alliance

One common misconception surrounding the recent announcement by Russia is that they are developing a blockchain-based payment system exclusively for the BRICS alliance. While it is true that the system is being developed in collaboration with the BRICS countries, namely Brazil, Russia, India, China, and South Africa, it is not limited to their use alone.

Russia's intention is to create a blockchain-based payment system that can be utilized by any country or organization interested in joining. The BRICS alliance serves as a starting point for the development and implementation of this system, but it is open to expansion and inclusion of other countries in the future.

The goal of this initiative is to provide an alternative to the traditional financial system dominated by Western countries, allowing participants to conduct cross-border transactions securely and efficiently. By leveraging blockchain technology, Russia aims to reduce reliance on the US dollar and enhance financial autonomy for participating nations.

Common Misconception 2: The blockchain-based payment system will replace existing financial systems

Another misconception is that the blockchain-based payment system being developed by Russia will completely replace existing financial systems. This is not the case. The intention is not to replace traditional banking systems, but rather to complement and enhance them.

The blockchain-based payment system will provide an additional option for countries and organizations to conduct cross-border transactions. It aims to streamline and expedite the process while ensuring transparency, security, and efficiency. However, it is important to note that existing financial systems will continue to operate alongside this new system.

The blockchain-based payment system can be seen as an alternative avenue for conducting transactions, particularly for countries seeking to reduce their dependence on the US dollar or navigate around potential economic sanctions. It offers an additional layer of financial security and flexibility, but it does not seek to replace the existing financial infrastructure.

Common Misconception 3: The development of the blockchain-based payment system is solely driven by political motives

There is a misconception that the development of Russia's blockchain-based payment system is solely driven by political motives. While it is true that geopolitical considerations play a role in this initiative, it is important to recognize the broader economic and technological factors at play.

Blockchain technology has gained significant attention and recognition worldwide for its potential to revolutionize various industries, including finance. Many countries are exploring the applications of blockchain and digital currencies to enhance their financial systems and improve cross-border transactions.

Russia's decision to develop a blockchain-based payment system aligns with these global trends and aims to position the country as a leader in this emerging technology. By embracing blockchain, Russia seeks to enhance its financial infrastructure, attract investment, and foster innovation in the digital economy.

Furthermore, the desire for financial autonomy and reduced reliance on the US dollar is not exclusive to Russia. Many countries, including those in the BRICS alliance, have expressed similar sentiments and are actively exploring alternatives. The development of this payment system is a response to these economic considerations rather than purely political motivations.

It is important to address these misconceptions surrounding Russia's announcement of a blockchain-based payment system for the BRICS alliance. By clarifying these points, we can better understand the intentions and implications of this initiative.

Russia's development of a blockchain-based payment system is not limited to the BRICS alliance alone but aims to create a platform that can be utilized by any country or organization interested in joining. It is intended to complement existing financial systems rather than replace them, providing an alternative avenue for cross-border transactions. While geopolitical factors are involved, the initiative is driven by broader economic and technological considerations.

By dispelling these misconceptions, we can foster a more accurate understanding of Russia's efforts in developing a blockchain-based payment system and its potential impact on the global financial landscape.

Russia's announcement of the development of a blockchain-based payment system for the BRICS alliance marks a significant step towards enhancing financial cooperation among member countries. The move aims to reduce dependence on the US dollar and promote a more secure and efficient cross-border payment system. By leveraging blockchain technology, the new payment system will provide transparency, traceability, and immutability, ensuring the integrity of transactions and enhancing trust between participating nations.

This development is a testament to Russia's commitment to exploring innovative solutions to global financial challenges. The blockchain-based payment system has the potential to revolutionize international trade and investment within the BRICS alliance, fostering economic growth and stability. Moreover, this initiative aligns with the broader global trend of countries exploring the use of blockchain technology to modernize their financial systems.

As blockchain continues to gain traction worldwide, it is likely to reshape the global financial landscape, and Russia's move positions the BRICS alliance at the forefront of this transformation.

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biblenewsprophecy · 7 months

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‘BRICS Pay’ moving ahead and Chinese move pushing away from the ‘Petrodollar’

COGwriter

The BRICS (Brazil, Russia, India, China and South Africa) alliance is trying to move forward with what is called BRICS Pay:

Moscow, Oct 23 (Prensa Latina) In a recent interview, Russian economist and politician Servei Glazyev said that a BRICS global trade currency is “inevitable” amid the current economic landscape. … Regarding difficulties in rolling out the BRICS single currency, Glazyev stressed that only political will is needed, because technically this currency is almost ready, the software and mathematical tools have been created. https://www.plenglish.com/news/2023/10/23/brics-trade-currency-is-inevitable-says-russian-economist/

If you don’t already realize that dedollarization is happening, there’s no clearer proof than BRICS Pay. BRICS Pay is a new blockchain-based payment system that enables members of the BRICS countries (Brazil, Russia, India, China, and South Africa) and their partners to make financial transactions in a whole new way.

Prior to BRICS Pay, residents of these countries had limited choices in how they would make purchases, trade, and take loans from outside of their country. The dollar has been the “overwhelming” choice for international trade for decades, serving as the primary medium of exchange. That’s been a problem for countries who have faced sanctions on SWIFT, the international currency platform owned by the Western economic bloc.

Removing the potential barriers created by SWIFT has been a driving factor in the progression of BRICS Pay, with the dollar gradually sliding into the backseat of global trade as a result.

The adoption of BRICS Pay across member states and partnered institutions has been rapid and dramatic. One of the largest banks in Russia, Sberbank, has already integrated BRICS Pay, as has the Bank of China and the State Bank of India. But it’s not just the players you might expect – it’s also Standard Chartered bank in the UK, e-commerce giant Alibaba, and Brazilian retail company Petrobas, along with dozens of others. Mobile apps enabling BRICS Pay are popping up on phones all over the world every second.

With that said, it’s clear that it’s not just BRICS constituents (representing 42% of the world’s population) who are adopting the new payment system, it’s everyone who wants to do business with them, too.

But what is BRICS Pay, exactly? In its simplest form, it represents an incredibly easy and fast way to make a payment, regardless of whether you’re using yuan or rubles. 10/19/232 https://www.birchgold.com/blog/financial/brics-pay

The rise in global geopolitical tensions and the use of economic sanctions may reduce the attractiveness of the US dollar as a currency in international trade and facilitate the rise of new international currencies, …

“We see a substantial increase in the use of the yuan in Russia’s imports from China, accompanied by a declining share of the US dollar,” says EBRD Chief Economist Beata Javorcik, one of the paper’s authors. “We have also observed an increase in the use of the yuan as an invoicing currency by third countries. Thus, while dollar dominance makes sanctions more effective, the sanctions could, in the long run, lead to some erosion of this dominance.”

The sanctions have imposed restrictions on the export of various goods to Russia, as well as on certain imports from Russia. They have limited the financial services that can be provided to Russian entities and suspended the access of some major Russian banks to SWIFT, the dominant system for cross-border payments.

Prior to March 2022, up to 80 per cent of Russia’s imports had been invoiced in US dollars or euros. By the end of 2022, invoices in Chinese yuan (CNY) accounted for 20 percent of Russia’s imports, a sharp increase from 3 per cent a year earlier, while the invoicing share of the US dollar and the euro had declined to 67 percent. …

Rising geopolitical tensions generally and the use of trade sanctions, in particular, may reduce the appeal of the US dollar as a vehicle currency in international trade and facilitate the rise of new international currencies, as well as the greater use of producer or importer currencies to settle trade.

This, in turn, may lead to greater fragmentation of global payment systems. The BRICS economies (Brazil, China, India, Russia and South Africa), for instance, are encouraging greater use of alternative currencies and have said they intend to develop a new cross-border payments system, BRICS Pay. 10/05/23 https://www.ebrd.com/news/2023/ebrd-researches-growing-role-of-new-currencies-in-international-trade.html

I have warned for many years that sanctions by the USA would hurt its dollar–first by the Trump Administration and later by the Biden Administration– and lead to nations looking to bypass it as the international currency for trade. This is definitely in the process of happening.

While many have focused on Russia, consider that China has been taking serious steps as well. Consider the following:

De-Dollarization? China Completes First Digital Yuan Purchase For Cross-Border Oil Transaction

De-dollarization continues accelerating with news of the Shanghai Petroleum and Natural Gas Exchange (SHPGX), a Chinese-backed exchange for trading energy-related products, settling its first cross-border transaction in digital yuan.

Chinese-based financial news outlet “Yicai” first reported PetroChina International bought one million barrels of crude oil using digital yuan on Thursday. It was the exchange’s first overseas oil settlement in digital yuan. …

China’s central bank began the digital yuan project in 2014 and has piloted the electronic currency in numerous regions across China. The world’s second-largest economy has been preparing to use the yuan and its digital version in international trade and finance as an alternative to the dollar.

In August, Brazil’s President Luiz Inacio Lula da Silva called for BRICS nations to create a common currency as the world furiously searches for ways to circumvent the dollar-based financial system.

Brazil’s president said a BRICS currency “increases our payment options and reduces our vulnerabilities.”

The US shutting Russia out of the SWIFT messaging system that underpins most global payments in response to its invasion of Ukraine has supercharged the de-dollarization trend. 10/20/23 https://www.zerohedge.com/commodities/de-dollarization-china-completes-first-digital-yuan-purchase-cross-border-oil

BRICS’ criticism of the dollar: Russia in the aftermath of recent imposition of financial sanctions; China says “the hegemony of the US dollar as the main source of instability and uncertainty in the world economy”, and in 2013 launched a ‘Belt and Road Initiative’ calling for “strengthening” “currency circulation”. Emboldened by increasing US interest rates adding to global borrowing costs, India and Brazil have pushed for greater use of local currencies. What might follow? …

There is also a steady push toward the re-monetizing gold. In July, a “Russia- and China-led consortium had settled on gold as the basis of a planned new international currency system separate from the dollar and euro”. Gold was a world economy hallmark until early in the 20th century. Today the world economy is, though, much larger, meaning it would be nearly impossible for gold bullion to equivalently back paper and digital currency today.

There is, though, another option. BRICS currencies could be benchmarked against gold at a specific price or price band, and not to an equivalent dollar rate. 08/22/23 https://www.enca.com/opinion/brics-local-currency-agenda-has-international-implications

The above reports suggest serious blows against the petrodollar.

Notice something from last August:

August 16, 2023

In another blow to dollar dominance, India and the United Arab Emirates settled an oil trade without converting local currencies to dollars for the first time on Monday, as India’s top refiner made a payment for oil in rupees.

Indian Oil Corp. bought a million barrels of oil from Abu Dhabi National Oil Company in a dollar-free transaction.

The oil sale was the first after the two countries entered a Memorandum of Understanding (MoU) in July. The deal established the Local Currency Settlement (LCS) system, facilitated by the Reserve Bank of India and the Central Bank of the United Arab Emirates. The system allows the two countries to engage in bilateral trade using the rupee and dirham. According to a statement by the Reserve Bank of India, the agreement will facilitate “seamless cross-border transactions and payments, and foster greater economic cooperation.”

The first test of the LCS involved the sale of 25 kg of gold from a UAE gold exporter to a buyer in India at about 128.4 million rupees ($1.54 million).

According to WIONews in India, the LCS system will reduce costs and speed up transactions between the two countries.

Additionally, reliance on national currencies is anticipated to bolster economic resilience and strengthen bilateral relations. Moreover, any surplus balances in the local currencies can be invested in various local assets, including corporate bonds, government securities, and equity markets.”

India has also purchased oil from Russia using non-dollar currencies.

India ranks as the third-largest oil importer in the world.

If the trend of dollarless transactions expands to other countries, the minimization of the dollar in the global oil trade would be bad news for the United States.

As it stands, the majority of global oil sales are priced in dollars. This ensures a constant demand for the greenback since every country needs dollars to buy oil. This helps support the US government’s “borrow and spend” policies, along with its massive deficits. As long as the world needs dollars for oil, it guarantees demand for greenbacks. That means the Federal Reserve can keep printing dollars to monetize the debt.

ZeroHedge explained how the process works.

One of the core staples of the past 40 years, and an anchor propping up the dollar’s reserve status, was a global financial system based on the petrodollar – this was a world in which oil producers would sell their product to the US (and the rest of the world) for dollars, which they would then recycle the proceeds in dollar-denominated assets and while investing in dollar-denominated markets, explicitly prop up the USD as the world reserve currency, and in the process backstop the standing of the US as the world’s undisputed financial superpower.”

Simply put, de-dollarization would drastically diminish US economic power and wreck the country’s economy. https://www.zerohedge.com/geopolitical/another-blow-petrodollar-india-uae-complete-first-oil-sale-rupees

What is the petrodollar?

Essentially, it is the fact that although the US dollar is no longer backed by gold, since most oil is priced in US dollars, that gives the US dollar a backing through a needed commodity, hence always insuring that the US dollar will have value. So it is sometimes called a petrodollar–which is broader than the term’s original intent.

The existence of the ‘petrodollar’ seems to have helped the USA be in a position to increase its debt and that will not end well (cf. Habakkuk 2:2-8; Daniel 11:39).

As far as China goes, it wants more world influence and ultimately domination (watch Is China paving roads to Armageddon?), but the Bible shows that while China will be prosperous for a time, it will be a power from Europe that will essentially dominate the world for the last 3 1/2 years before Jesus returns. (Thiel B. China trying to benefit from US withdraw of Paris accord, while also working to eliminate the ‘petrodollar’. COGwriter, June 2, 2017)

The BRICS nations tend to like and use gold with two-three of them major suppliers of gold and two major purchasers of gold.

Related to gold and the replacement of the USA dollar, we put out the following video:

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12:30

Gold Backed Currency to Replace the US Dollar?

China introduced something that was called the gold-petro-yuan back in 2018. Since then, the global share of US-dollar-dominated exchange reserves have dropped to 59.0%. In April 2021, China became the first major economy to unleash a Central Bank Digital Currency. China also has given its banks permission to import large amounts of gold. Is China preparing for a gold-backed yuan to push aside the US dollar or to help it survive a US dollar cataclysm? Are other nations preparing to push the US dollar aside? Do Europeans seem to have the most gold? Are Europeans prophesied to gain more gold? Is the US debt trajectory sustainable per Fed Chairman Jerome Powell? Does the Bible warn of the end coming to the highly indebted in Habakkuk 2:6-8? Why does it looked like a gold-backed currency will replace the US dollar? Will the US dollar, ultimately, become essentially worthless? Dr Thiel addresses these issues and more.

Here is a link to our video: Gold Backed Currency to Replace the US Dollar?

Based upon several biblical prophecies, I have long written that the Asians and Europeans will cooperate, for a time, and eliminate the USA and its Anglo-Saxon descended allies.

It should be added that part of the purpose of the Euro was to bypass the USA dollar for international trade. And, that has happened completely within the Eurozone block in the EU.

Steps towards pushing away the Anglo-American dominance of the world for the past couple of centuries is happening.

Related to BRICS, we have the following video:

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15:09

BRICS and the Woes of Revelation

The BRICS nations consist of Brazil, Russia, China, India, and South Africa. In February of 2023, Russia, China, and South Africa held joint naval drills. In the Fall of 2022, India, Russia, and China held joint military exercises. Brazil also has a military cooperation agreement with Russia. The Book of Revelation uses the term woe three in chapter 8 verse 13–those woes are then discussed in later chapters. Could the BRICS nations, along with the coming Babylonian European Beast power be involved in all three of the woes? Do the BRICS nations want to push aside the USA dollar? Is one of the woes tied to the rise of a 200,000,000 man army? Is there any connection to the second woe and the two witnesses? Do the woes correspond with the last of the seven trumpets in the Book of Revelation? Is one of the woes tied to Armageddon? Does Jesus return with the seventh trumpet? Will nations not be pleased when Jesus returns? Dr. Thiel and Steve Dupuie go over these matters.

Here is a link to our video: BRICS and the Woes of Revelation.

Although BRICS will not dominate the world economically like the coming European Beast power will, the BRICS nations and their decisions will have major impacts on the world.

Steps to push aside the USA dollar really are happening.

As Jesus said: “And what I say to you, I say to all: Watch!” (Mark 13:37).

Some items of possibly related interest may include:

Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America? Where did those people come from? Can you totally rely on DNA? What about other peoples? Do you really know what will happen to Europe and the English-speaking peoples? What about Africa, Asia, South America, and the Islands? This free online book provides scriptural, scientific, historical references, and commentary to address those matters. Here are links to related sermons: Lost tribes, the Bible, and DNA; Lost tribes, prophecies, and identifications; 11 Tribes, 144,000, and Multitudes; Israel, Jeremiah, Tea Tephi, and British Royalty; Gentile European Beast; Royal Succession, Samaria, and Prophecies; Asia, Islands, Latin America, Africa, and Armageddon; When Will the End of the Age Come?; Rise of the Prophesied King of the North; Christian Persecution from the Beast; WWIII and the Coming New World Order; and Woes, WWIV, and the Good News of the Kingdom of God. The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold and silver? Two videos of related interest may be: Germany, Gold, and the US Dollar and Silver, Science, and Scripture. Europa, the Beast, and the Book of Revelation discusses the largest church since the second/third century, which in a real sense is the eighth church mentioned in the Book of Revelation (it also endorses “eighth day” worship). What church would support the Beast? Here is a link to a video titled: Europe and the ‘Holy Roman Empire’. The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold and silver? Two videos of related interest may be: Germany, Gold, and the US Dollar and Silver, Science, and Scripture. Biden-Harris: Prophecies and Destruction Can the USA survive two full presidential terms? In what ways are Joe Biden and Kamala Harris apocalyptic? This book has hundreds of prophecies and scriptures to provide details. A Kindle version is also available and you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to your free Kindle reader app (or if you already have one or a Kindle), you can go to: Biden-Harris: Prophecies and Destruction (Kindle) to get the book in seconds.

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ailtrahq · 8 months

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The idea of BRICS launching a new currency to take on the U.S. dollar turned futile this year. BRICS acknowledged that creating a new currency in the international markets is complex and needs more dynamic framework. Therefore, the formation of a new currency to challenge the U.S. dollar is currently stalled. Nonetheless, Russia’s President Vladimir Putin said this month that it is necessary for BRICS to settle trade transactions in local currencies and not the U.S. dollar. He added that BRICS will look into the formation of a new system, which includes financial logistics that would enable countries to settle global trade in local currencies, bypassing the U.S. dollar. Russia and China are advancing to keep local currencies at the forefront and not the USD. Read here to know how many sectors in the US could be affected if BRICS completely stops using the dollar. “Within the BRICS framework, it is necessary to create not a single currency but a system of financial logistics and mutual settlements in national currencies,” said Putin. BRICS Local Currencies Vs. the US Dollar Source: scmp.com The framework is only an idea and the new financial system is yet to be formed and put to work. The BRICS alliance has thrown several ideas in the last six months to dethrone the US dollar. None of the ideas have turned into reality except for expanding to an 11-member alliance. However, China and Russia are building a new payment mechanism that could help other countries end dependency on the dollar. The payment mechanism could benefit BRICS members mutually by putting the local currencies ahead of the USD. The alliance is doing everything possible to liberate itself from the dollar and strengthen its local currencies. The native economies of BRICS countries could boom and businesses could thrive parallelly if their respective currencies get stronger against the USD.

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xtruss · 11 months

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'Dethroning the Dollar' Will Take More Than Minting New BRICS Currency

Photo: AP

With BRICS expected to expand soon, moves by the group of leading emerging economies to create a gold-backed international currency have increased Western fears of de-dollarization and a move to bilateral payment settlements.

Usurping the US dollar as the dominant reserve and trade currency is more complicated than creating an alternative, says an expert on south-south relations.

The 15th summit of the BRICS group — Brazil, Russia, India, China and South Africa — in Johannesburg in late August will discuss proposals for a new gold-backed common currency.

Leading developing nations — including BRICS membership candidate Saudi Arabia — have already begun conducting bilateral trade in national currencies rather than the US dollar, crucially including crude oil sales.

Mohammed Saqib, secretary-general of the India-China Economic and Cultural Council, told Sputnik that it would take more than just setting up a new currency to "dethrone" the dollar.

He said the attractiveness of BRICS for prospective new members such as Algeria, Argentina, Nigeria and Nicaragua was the "abundant resources and technology" its members possess and its history of investment and financial support in Africa.

"BRICS offers relations that provide new export markets and avenues for knowledge-sharing and training programs to empower local resources and strengthen communities," Saqib said, but "more importantly, BRICS nations advocate for reform of international financial institutions and promote South-South cooperation for unified growth."

The commentator called de-dollarization "a dream of many countries" which they have harboured for decades — and now BRICS is "making it come true."

"Minimizing dependence on the US dollar and encouraging economic autonomy through de-dollarization has been a need felt by the global south," Saqib noted. "Business away from the dollar will effectively stabilize national economies, minimize risks associated with exchange rates, decrease transaction expenses, and foster regional unity."

But he cautioned that shifting to a new currency would need close coordination of the BRICS members' financial systems, and depended on many factors including "trust, economic fundamentals, global acceptance, financial infrastructure, and geopolitical considerations."

"Dethroning the US dollar's supremacy is a complex task that requires a comprehensive and coordinated effort...The process of the new currency to diversify the monetary landscape has started, it might take time, but the beginning of the end of dollar dominance has started," Saqib stressed.

With six weeks to go until the BRICS summit, US-dominated military alliance NATO is meeting in the Lithuanian capital Vilnius to decide how next to escalate its proxy conflict with Russia in Ukraine.

The business ambassador said the two international organisations were as different as night and day.

"NATO is a cooperation among member states who believe in and thrive on conflicts and wars," Saqib said, while "BRICS represents major emerging economies with a focus on South-South cooperation, development, and enhancing multilateral influence. The choice ultimately depends on a country's specific goals and priorities."

— James Tweedie, Tuesday July 11, 2023

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tipco613 · 1 year

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New Post has been published on http://cryptonewsuniverse.com/cryptocurrencies-could-be-the-answer-to-de-dollarization/

Cryptocurrencies Could Be the Answer to De-Dollarization

In today's globalized world, cross-border transactions have become a routine part of our lives. However, these transactions can be expensive and time-consuming, often requiring intermediaries such as banks and payment processors. Moreover, the dominance of the U.S. dollar in international trade has created dependencies and vulnerabilities in the global financial system. As a result, many countries are exploring alternatives to the U.S. dollar and seeking ways to facilitate cross-border transactions that are cheaper, faster, secure, and, most significantly, an alternative that would be politically neutral.

Countries and organizations are using this de-dollarisation technique more frequently to lessen their reliance on the U.S. dollar, which has been the main reserve currency since the Bretton Woods monetary system was established after World War II. In this context, cryptocurrencies have emerged as a potential solution to the challenges posed by cross-border transactions and de-dollarization. Cryptocurrencies offer a decentralized, borderless, and secure way to transfer value across borders without intermediaries.

In this article, we will explore the reasons behind de-dollarization's emergence and a possible solution to this problem. Let's get started!

Historical Overview of De-dollarization

The idea of de-dollarization is not new and has been discussed by economists and policymakers for decades. However, it gained more attention after the 2008 financial crisis, which exposed the vulnerabilities and dependencies of the global financial system on the U.S. dollar.

In the years following the financial crisis, countries such as Russia, China, and Iran began to take steps to reduce their dependence on the U.S. dollar. For instance, in 2009, Russia proposed the creation of a new global reserve currency to replace the U.S. dollar, citing concerns about the stability of the dollar and the impact of U.S. monetary policy on the global economy.

China has also been taking steps to internationalize its currency, the Yuan, and reduce its reliance on the U.S. dollar. In 2016, the International Monetary Fund (IMF) added the Yuan to its basket of reserve currencies alongside the U.S. dollar, Euro, Yen, and Pound Sterling. This move was seen as a significant step towards the internationalization of the Yuan and reducing the dominance of the U.S. dollar in the global financial system.

Countries like Venezuela and Iran have turned to cryptocurrencies to bypass U.S. sanctions and reduce their dependence on the U.S. dollar. Venezuela, for instance, launched its cryptocurrency, the Petro, in 2018, which it claimed would be backed by the country's oil reserves. Iran has also been exploring using cryptocurrencies to facilitate cross-border transactions and reduce its dependence on the U.S. dollar.

Image source: Unacademy.com

The five major emerging economies of Brazil, Russia, India, China, and South Africa (BRICS) represent nearly 42% of the world's population and have a combined GDP of over $16 trillion. They have been reducing their dependence on the U.S. dollar and promoting de-dollarization in the global financial system.

One of the critical initiatives of BRICS in promoting de-dollarization is the establishment of the New Development Bank (NDB) in 2014. The NDB is a multilateral development bank that aims to support infrastructure and sustainable development projects in BRICS and other emerging economies. It was created in response to the perceived inadequacies of existing international financial institutions, such as the World Bank and the International Monetary Fund (IMF), in addressing the needs of emerging economies.

Another initiative of BRICS in promoting de-dollarization is the establishment of the Contingent Reserve Arrangement (CRA) in 2015. The CRA is a framework that allows BRICS countries to provide each other with financial assistance in times of crisis without relying on the IMF and the U.S. dollar. The CRA has a total pool of $100 billion, which can be used to provide short-term liquidity support to member countries.

In addition to these initiatives, BRICS countries have also been exploring using their own currencies in cross-border transactions to reduce their dependence on the U.S. dollar. For instance, China and Russia have been conducting trade in their currencies since 2010, and India and Russia have also agreed to conduct trade in their currencies. Brazil and China have also signed a currency swap agreement allowing them to trade in their own currencies without using the U.S. dollar as an intermediary currency.

The BRICS countries are playing an increasingly important political game in promoting de-dollarization and reducing the dominance of the U.S. dollar in the global financial system. By establishing their multilateral institutions and exploring the use of their currencies in cross-border transactions, they are challenging the existing order and promoting a more multipolar world. Cryptocurrencies, with their borderless and decentralized nature, play an unimaginably essential role in this process, offering an alternative to traditional currencies and financial institutions.

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Video source: FirstPost.com

How Would De-dollarization Impact The Rest of The World?

The new currency that replaces the U.S. dollar will significantly influence how de-dollarization affects the rest of the globe. As nations and organizations would need to adapt to the changes in their financial systems, a new reserve currency would probably result in significant volatility for the global financial system. The new reserve currency may also impact the system of international commerce since different nations may need to alter their currency exchange rates to account for it.

There will be an increased rivalry between the BRICS nations and the other countries which utilizes the SWIFT system. The BRICS partners are working to create international alternatives to SWIFT and other U.S.-dominated payment systems. The BRICS is motivated by the growth of international commerce and a need to create an alternative global payment network that can't be susceptible to U.S. government sanctions.

As international banking transactions involving multiple currencies require conversion into U.S. dollars, banks participating in the potentially sanctions-busting alternative to SWIFT risk retaliation from the U.S., which could use its power to exclude sanctioned banks and corporations from the global banking infrastructure. This calls for using intermediate banks with U.S. roots and SWIFT, which, according to nations like China, Russia, Iran, and Turkey, allows countries targeted by the most recent U.S. foreign policy to be cut off from global trade.

China, the world's second-largest economy in nominal terms of GDP, is attempting to promote the Yuan as a trade alternative to the U.S. dollar. An increasing de-dollarization trend has sparked trade agreements involving Brazil, Russia, India, China, and South Africa. This agreement has captured the interest of 19 countries that recently declared their intentions to join the BRICS.

Apart from the U.S. faltering economy, the government is notorious for its debt trap policies. For countries to maintain the U.S. dollar as the world's reserve currency, the U.S. government must keep it politically neutral and not use it as a weaponized tool against any nation through sanctions.

The Rise of Cryptocurrencies

Cryptocurrencies have significantly increased in popularity and adoption over the past decade. Bitcoin, the first and most well-known cryptocurrency, was created in 2009, and since then, thousands of other cryptocurrencies have been developed.

One of the main drivers of the rise of cryptocurrencies has been the increasing use of blockchain technology, which underpins most cryptocurrencies. Another factor contributing to the rise of cryptocurrencies has been the growing distrust of traditional financial institutions and government-backed currencies. Many people see cryptocurrencies as a way to bypass traditional financial systems and gain more control over their money with a high degree of privacy and anonymity.

The rise of cryptocurrencies offers a potential solution to the problem of de-dollarization, although more is needed. Cryptocurrencies can help countries reduce their dependence on the U.S. dollar and mitigate the impact of U.S. economic policies and sanctions by providing a stable and reliable means of exchange that operates independently of governments and central banks.

Countries that rely heavily on the U.S. dollar for trade and finance are vulnerable to U.S. policy decisions, which can have significant economic consequences. By diversifying away from the U.S. dollar, countries can reduce this risk and mitigate the impact of U.S. policies.

Cryptocurrencies, such as Bitcoin, offer several potential advantages for countries looking to reduce their reliance on the U.S. dollar. For example, Bitcoin is not subject to the same geopolitical pressures as traditional fiat currencies, offering high transparency and security. Bitcoin can provide a more stable store of value than fiat currencies, which can be subject to inflation and other economic pressures.

However, significant challenges are associated with using cryptocurrency as a solution to de-dollarization. For example, the value of cryptocurrencies can be highly volatile, making them an unreliable store of value. The regulatory landscape surrounding cryptocurrencies is complex and can change rapidly, making it difficult for countries to incorporate them into their monetary systems.

Despite these risks, the rise of cryptocurrencies shows no signs of slowing down, and they will likely continue to play an increasingly important role in the global financial system in the years to come.

Image by Markethive.com

Cryptocurrencies Offer Freedom In A World Of Financial Slavery By Design

Although cryptocurrencies have long been debated and studied, they are only recently beginning to gain acceptance as financial instruments that may be useful to those who aren't die-hard crypto enthusiasts. Cryptocurrencies have the potential to enable social and economic improvement worldwide, particularly in developing countries, by facilitating access to finance and financial services.

Although there are many advantages that users of cryptocurrencies can take advantage of, the most important one is an unmatched degree of freedom, such as mental and financial independence from controlling one's resources.

Early adopters who became rich overnight and discovered opportunities for financial growth had witnessed the incredible rate at which the crypto sector is evolving. The most well-known cryptocurrency, Bitcoin, has already enabled many people and businesses to prosper. The economy is gradually adapting to fulfill these expectations, and cryptocurrencies can assist.

Over one-third of the world's population lacks access to essential banking services like loans and account opening that might help them during personal financial crises. Even within India, banks charge interest rates significantly over what is fair, making consumers who sought loans feel even more uneasy. Cryptocurrencies can help with this because of their high volatility and straightforward usage.

Using cryptocurrency is made simpler and more accessible by several programs and tools. Massive crypto adoption will usher in an era of economic transformation where everyone will have greater control and empowerment over their finances.

Final Thoughts

De-dollarization is a significant trend to watch because it will significantly impact the U.S. dollar, the U.S. economy, and the rest of the world. It's still being determined how this will play out, but it seems possible that cryptocurrencies will play an essential role in de-dollarization. In the meantime, it's worth watching how countries are moving away from the U.S. dollar and how this affects their economies.

Cryptocurrencies offer several potential solutions to the challenges of cross-border transactions, bypassing U.S. sanctions and reducing reliance on the U.S. financial system. Increased adoption of cryptocurrencies could significantly impact the global financial system. It could reduce the dominance of traditional financial institutions and provide more opportunities for peer-to-peer transactions.

However, there are potential challenges to adopting cryptocurrencies, including regulatory and security concerns and the need for infrastructure and adoption. Other factors, such as geopolitical developments, trade policies, and macroeconomic trends, are likely to play a significant role in shaping the future of the global financial system. As such, the impact of cryptocurrencies on cross-border transactions and de-dollarization will depend on how quickly these challenges can be addressed and how widely cryptocurrencies are adopted.

About: Prince Ibenne. (Nigeria) Rapid and sustainable human growth is my passion, and getting a life-changing opportunity into the hands of people is my calling. Empowering entrepreneurs provides me with enormous gratification. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

#cryptocurrency #FinancialCrisis #markethive

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thesecrettimes · 2 years

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Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Russia and China May Be Developing Gold-Backed Currency

Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, the senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat, explained that Chinese leaders have talked about reforming the global financial system and reducing the U.S. dollar’s dominance for two decades. “Two components in that strategy center around the development of a yuan-based global commodities trading system and efforts by China, in partnership with Russia and other like-minded countries, to challenge dollar dominance by creating a new reserve currency,” he told Fox News Digital, elaborating: In essence, Beijing and Moscow are seeking to build their own sphere of influence and a unit of currency within that sphere, in effect inoculating themselves from the threat of U.S. sanctions. Swiss exports of gold to China in July rose to their highest level since December 2016. According to Swiss customs data, Switzerland shipped 80.1 tonnes of gold worth 4.4 billion Swiss francs ($4.4 billion) to mainland China during the month. A research fellow and economist at the Heritage Foundation’s Asian Studies Center, Min-Hua Chiang, believes that the appeal for the new Russia-China currency “will be limited” due to small trade volume, stating: Even if both countries use a new currency for bilateral trade transactions, the relatively small trade volume will limit the impact on the U.S. dollar. Data from the Society for Worldwide Interbank Financial Telecommunications (SWIFT), a global financial messaging firm, showed that 42.6% of global payments in August were in U.S. dollars, 34% were in euros, and 2.3% were in Chinese yuan. The Heritage Foundation economist stressed that the yuan “is still leagues behind the USD and euro,” adding that a multinational currency, like the euro, requires “a level of political and economic coordination and integration that is not present in Asia today.” She opined: The USD remains the safest, most convenient, and most widely used currency in Asia and in the world today. No other currency (backed by gold or otherwise) is comparable, and that is unlikely to change in the near future. During the BRICS Summit in July, Russian President Vladimir Putin announced that the BRICS economies plan to issue a “new global reserve currency.” The BRICS nations are Russia, China, India, Brazil, and South Africa. Analysts believe the BRICS move to create a reserve currency is an attempt to undermine the U.S. dollar and the International Monetary Fund (IMF)’s Special Drawing Rights (SDRs). Do you think Russia and China are developing a gold-backed currency that could undermine the U.S. dollar’s status as the world’s reserve currency? Let us know in the comments section below. Read the full article

#Beijing #China #currency #developing #Discuss #Economists #exchange #financial #Gold-Backed #Potentially #Russia #swift #Telecommunications #Ukraine #USD

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rielpolitik · 2 years

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DAS KAPITAL: China & Russia Want To Replace US Dollar With BRICS Currencies

Source – theepochtimes.com “…Both Xi and Russian President Vladimir Putin called for payment alternatives to decrease the U.S. dollar’s dominance in international trade and to reduce U.S. control of the SWIFT system…According to the Chinese state-run tabloid Global Times, bankers and economists in BRICS countries have recommended that the bloc “expand national currency settlements and lending to…

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thegnmsolution · 2 years

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HOW AMERICA ENDS: Putin announces new BRICS global reserve currency project to REPLACE the petrodollar

HOW AMERICA ENDS: Putin announces new BRICS global reserve currency project to REPLACE the petrodollar www.naturalnews.com/2022-06-24-putin-announces-new-brics-global-reserve-currency-replace-petrodollar.html Although the biggest news of the week is undoubtedly the US Supreme Court overturning /Roe vs. Wade/, there’s another bombshell that quietly broke two days ago — one that will have a vastly more profound devastating consequences on the world than any decision coming from SCOTUS. Russian President Vladimir Putin announced that BRICS nations are going to roll out a new alternative to the US dollar’s global reserve currency status. As reported by IndiaTimes.com : /According to the Russian president, the member states are also developing reliable alternative mechanisms for international payments. Earlier, the group said it was working on setting up a joint payment network to cut reliance on the Western financial system. The BRICS countries have been also boosting the use of local currencies in mutual trade./ But this is only the beginning of the bombshell here. We also know from industry sources that “Project Sandman” refers to a group of over 100 countries that plan to simultaneously denounce the US dollar as a global reserve currency. This will likely take place on a Sunday evening, USA time, says Andy Schectman, the CEO of Miles Franklin (a gold and silver dealer). He told me this in an interview recorded yesterday, to be aired soon. The new replacement currency will be *powered by blockchain and backed by gold*, which is why member nations have been rapidly stockpiling gold supplies in anticipation of the big announcement. When that announcement comes, nations that represent nearly 75% of the world’s population will simultaneously denounce the US dollar and roll out a gold-backed, blockchain-audited international currency system that will instantly become the world’s currency choice for free trade and a store of value. The dollar, backed by nothing but more money printing and incompetent political leadership, will collapse toward zero. Virtually overnight, goods and services sold in America will increase in price by 1000%. And that’s only the beginning: The dollar will continue to lose value by the hour as the world’s holders of US Treasury debt and dollar currency dump it all at any price. Those holding dollars will lose everything. The United States government will quickly collapse in parallel with the collapse of the dollar and the US central bank. There will be no money to pay military troops or pay off corrupt government officials. All government salaries and pensions will be effectively halted. The great neocon empire of debt, lies and death will implode so rapidly that people will be psychically shocked and physically unprepared. Russia, China and India will emerge as the economic leaders of the world, and the US empire will cease to exist. The former United States of America will be broken into regional nation states, divided largely among political lines with the satanic, anti-American Left seizing control of the coasts, and conservative, pro-America, pro-liberty, pro-Constitution groups dominating the rest of the country. Expect a very real civil war to ensue, with massive casualties. Russia knows that it can defeat America simply by joining the world’s efforts to declare America’s dollar currency to be null and void. No nuclear war is necessary. America it already highly vulnerable to this sort of collapse due to the nation’s massive debt and spending addictions. Russia and China are merely sucking the air out of America’s collapsing currency, knowing that economic gravity will do the rest. The Belt and Road Initiative – the future of world trade WITHOUT America and Western Europe Examine the following map, depicting China’s /Belt and Road Initiative/, consisting of protected, high-efficiency trade routes among countries representing about 75% of the world’s population: This /Belt and Road Initiative/ will speed trade among member nations, and it will use China’s new “digital yuan” currency backed by gold and audited by blockchain technology. (Please watch my upcoming interview with Andy Schectman for a lot more on this, as Andy has been following the topic quite extensively.) Notice what’s missing from this map? *America and Western Europe*. That’s because America — the military and economic bully of the world — isn’t welcomed by other nations. America doesn’t play nice. America bombs anyone it wants while weaponizing the SWIFT system to punish its political enemies, and now that the world has come to realize the dollar is a /weapon/ rather than a free trade currency, *nobody wants anything to do with America from here forward*. The economic sanctions against Russia were the last straw for the dollar, it turns out. And the USA has nothing left to back its currency: Not manufacturing, not labor, not agricultural output, and not even gold in the vaults. The USA no longer has fair and free elections and no longer has freedom of speech. On top of that, the USA has political prisoners rotting in jails in DC while the FDA harvests organs from aborted human babies to use for medical experiments. In other words, *the USA occupying illegitimate government, under demonic influence, has become a great evil in the world*. Western Europe is run by lunatics and “woke” propagandists who are committing economic suicide by outlawing every form of energy that matters. The EU is disintegrating, and the Euro currency likely will collapse within the next year. Western Europe is on a suicide mission, both economically and culturally, as the nations of Europe can’t even protect their own borders from mass migration. (Nor can the USA, for that matter.) America as you know it will soon cease to exist The era of Western Civilization is coming to an end. It will be characterized by the collapse of the dollar, a global repudiation of the petrodollar status, a collapse of the rule of law across the United States, a collapse of the stock market, pensions, bond market and crypto markets, a collapse of the food supply chain, and a collapse of the fuel and transportation infrastructure. This will, in turn, take down the power grid in many areas, leading to a Mad Max-style scenario from which a few capable survivors will attempt to flee. Before the end of 2025, as I have publicly predicted for at least the last five years — *America as you know it will cease to exist*. This has been the plan all along from Barack Obama, Hillary Clinton, Joe Biden and plenty of RINO neocons, too (the Cheneys, Bushes, etc.). They needed to take down America in order to achieve one world government under the fascist United Nations, with universal gun control, universal vaccine mandates, abortion “rights,” engineered global starvation and total control over all speech and elections. Their agenda is failing at many levels, however. Roe vs. Wade was just struck down by the US Supreme Court, for example, and there are elements at work that are looking likely to achieve key indictments against deep state players. However, *any state that wants to exist after the dollar collapses must be ready to roll out its own gold-backed currency on an emergency basis*. Texas is largely prepared to do this, but few other states are ready. The re-establishment of trade and commerce (following the dollar collapse) is going to be the key to surviving the demise of the dollar. Texas is America’s No. 1 exporter of goods, by the way, and the Texas economy is larger than most nations on the planet. So is the economy of California. But California is run by child murdering, demonic fascists while Texas has the world’s best Attorney General (Paxton) and a strong contingent of pro-human, pro-liberty, pro-Constitution Americans who are ready and willing to relaunch the spirit of America in the new /Republic of Texas/, when necessary. #TEXIT But no matter what happens domestically, America’s days of being able to run around the world, threatening everybody with military strikes and dollar weaponization will soon be over. And without the ability to print money and defraud the world into buying soon-to-be-worthless US debt instruments, the United States military will have no funding to continue operations or build new weapons. It will eventually be disbanded. What happened to the former Soviet Union in 1991 is about to happen to the United States of America: A collapse of the ability to continue to fund the bureaucracy and military that propped up the system the entire time. The USA has sadly devolved into an empire of debt, lies and death. *The country is currently ruled by an actual death cult*, but those days are fast coming to an end with the imminent collapse of the demonic dollar and all the evil that money printing has enabled since 1971. When this evil is finally brought to an end, all those who value life, liberty and happiness will rejoice (and rebuild). Get prepared, for that today is coming soon. And from what I’ve concluded, the only way to avoid the financial collapse that’s coming is to *hold your assets in physical goods* such as gold and silver, land, agricultural equipment, ammunition, industrial buildings (factories, for example) and other “real” things that don’t vanish in a currency collapse. Discover more details in my Situation Update podcast: Brighteon.com/9c3188e1-0f17-45fb-b9c4-38a903eedfdd Discover more information-packaged podcasts, raw intel reports and interviews each day: www.brighteon.com/channels/HRreport Follow me on: Brighteon.social: Brighteon.social/@HealthRanger (my breaking news gets posted here first) Telegram: t.me/RealHealthRanger (breaking news is posted here second) Truth Social: truthsocial.com/@healthranger Gettr: GETTR.com/user/healthranger Parler: Parler.com/user/HealthRanger Rumble: Rumble.com/c/HealthRangerReport BitChute: Bitchute.com/channel/9EB8glubb0Ns/ Clouthub: app.clouthub.com/#/users/u/naturalnews/posts Join the free NaturalNews.com email newsletter to stay alerted about breaking news each day. Download my current audiobooks — including Ghost World, Survival Nutrition, The Global Reset Survival Guide and The Contagious Mind — at: Audiobooks.NaturalNews.com/ Download my new audiobook, “Resilient Prepping” at ResilientPrepping.com – it teaches you how to survive the total collapse of civilization and the loss of both the power grid and combustion engines. Stay informed and you can stay alive.

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