BankSith on Nostr: >>> American artist Robert Berkeley (Bob Minior) (1884-1952) drew this cartoon in ...
>>> American artist Robert Berkeley (Bob Minior) (1884-1952) drew this cartoon in 1925 and said that one day the balance of power will change. He has only "almost" forgotten Russia as the initiator of the BRICS in the picture.....
The BRICS are working to create an alternative to the dollar as a trading and reserve currency. Although no breakthrough is yet to be expected from the upcoming BRICS summit, it is slowly becoming apparent in which direction the journey could go.
In a recent article for Foreign Affairs magazine, US Secretary of State Anthony Blinken enumerated the foundations of American power, putting his country's "dominant currency" on a par with "military and technical superiority" and the "unparalleled network of alliances and partnerships". This pride is understandable: as early as the 1960s, Valéry Giscard d'Estaing, who was the French Minister of Economy and Finance under President Charles de Gaulle, described the issuance of the dollar as the world's most important reserve currency as a "fabulous privilege" of the USA. Today, experts such as Alexei Mozhin, the IMF's executive director from Russia, recognize the dollar as one of the three pillars of the entire current international financial system, along with free-floating exchange rates and free cross-border capital flows.
It is another thing that the US itself has recently undermined the foundations of this system by turning its currency into a kind of "weapon". In English, this is called "weaponization". Six months ago, Saleha Mohsin, a Bloomberg News journalist, published an entire book on the subject: "Paper Soldiers: How the Weaponization of the Dollar Changed the World Order."
But by sending these "soldiers" into battle, the US is actually sawing at the branch on which they are sitting. Russian President Vladimir Putin has repeatedly pointed out this fact. Thus, at a recent meeting organized by TASS with the heads of the world's leading news agencies, he stressed: "One of the colossal mistakes of the US government is that it prohibits the use of the dollar in international settlements, making it an instrument for some kind of struggle. This is complete nonsense, because they undermine confidence in the dollar (...) They simply destroy it themselves, with their own hands."
The average growth rate for the BRICS economy will be 4.4 percent per year in 2024 and 2025, while the world average is 3.2 percent and the growth rate of the G7 countries will be 1.7 percent. The BRICS countries' share of global GDP in purchasing power parity will reach a record 36.7 percent this year, while the G7 countries' share will be 29.6 percent.
#Brics #G7 #Nato #EU #USA #Dollar #Euro #Russland #Germany #IWF <<<
Thomas Ottmann via linkedin
Study #bitcoin 🧡
The BRICS are working to create an alternative to the dollar as a trading and reserve currency. Although no breakthrough is yet to be expected from the upcoming BRICS summit, it is slowly becoming apparent in which direction the journey could go.
In a recent article for Foreign Affairs magazine, US Secretary of State Anthony Blinken enumerated the foundations of American power, putting his country's "dominant currency" on a par with "military and technical superiority" and the "unparalleled network of alliances and partnerships". This pride is understandable: as early as the 1960s, Valéry Giscard d'Estaing, who was the French Minister of Economy and Finance under President Charles de Gaulle, described the issuance of the dollar as the world's most important reserve currency as a "fabulous privilege" of the USA. Today, experts such as Alexei Mozhin, the IMF's executive director from Russia, recognize the dollar as one of the three pillars of the entire current international financial system, along with free-floating exchange rates and free cross-border capital flows.
It is another thing that the US itself has recently undermined the foundations of this system by turning its currency into a kind of "weapon". In English, this is called "weaponization". Six months ago, Saleha Mohsin, a Bloomberg News journalist, published an entire book on the subject: "Paper Soldiers: How the Weaponization of the Dollar Changed the World Order."
But by sending these "soldiers" into battle, the US is actually sawing at the branch on which they are sitting. Russian President Vladimir Putin has repeatedly pointed out this fact. Thus, at a recent meeting organized by TASS with the heads of the world's leading news agencies, he stressed: "One of the colossal mistakes of the US government is that it prohibits the use of the dollar in international settlements, making it an instrument for some kind of struggle. This is complete nonsense, because they undermine confidence in the dollar (...) They simply destroy it themselves, with their own hands."
The average growth rate for the BRICS economy will be 4.4 percent per year in 2024 and 2025, while the world average is 3.2 percent and the growth rate of the G7 countries will be 1.7 percent. The BRICS countries' share of global GDP in purchasing power parity will reach a record 36.7 percent this year, while the G7 countries' share will be 29.6 percent.
#Brics #G7 #Nato #EU #USA #Dollar #Euro #Russland #Germany #IWF <<<
Thomas Ottmann via linkedin
Study #bitcoin 🧡