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Goodbye, dollar dominance: BRICS plans 'multi-currency system' to transform global financial order (www.youtube.com)
submitted 3 days ago by Comprehensive49@lemmygrad.ml to c/worldnews@lemmygrad.ml
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Ben Norton makes a great overview of the comprehensive new financial architecture that Russia is proposing at the BRICS summit to dedollarize and decentralize the global financial system.

These plans are incredible. The US-dominated financial system has lasted over 80 years. If carried through, BRICS will reshape global finance and equity for the next century.

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[-] queermunist@lemmy.ml 15 points 3 days ago

I think toppling the petrodollar is still needed to end dollar dominance, but this sounds like an alternative to SWIFT banking and will be major step towards the ultimate goal.

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this post was submitted on 19 Oct 2024
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