Is BRICS really creating a new form of currency?
Russian Sputnik is all about it, but is it true?
I’m very hesitant to quote Russian media as I can’t verify it properly. Therefor such revelations should be taken with a pinch of salt, but hints about actions like this were visible since a while.
Russian international media outlet Sputnik has posted a remark of State Duma Deputy Chairman Alexander Babakov:
"The transition to settlements in national currencies is the first step. The next one is to provide the circulation of digital or any other form of a fundamentally new currency in the nearest future. I think that at the BRICS [leaders' summit], the readiness to realize this project will be announced, such works are underway,"
If this move would be executed we soon would start to have a bipolar monetary world. USD wont disappear anytime soon but an iron curtain might be raised and opposing camps might be closer than we think.
On the other hand this might just be Russian propaganda and wishful thinking. Lets wait for the summit and verify if Sputnik was spreading fake news or was telling the truth.
What is worrying is that a few months ago The Economic Times wrote about it, and they do not seem to be a Russian propaganda outlet…
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Source:
https://sputniknews.com/20230330/brics-working-on-new-form-of-currency---state-duma-deputy-chairman-1108974142.html
https://web.archive.org/web/20230330194747/https://sputniknews.com/20230330/brics-working-on-new-form-of-currency---state-duma-deputy-chairman-1108974142.html