‘Iran becomes permanent member of BRICS. A strategic victory for Iran's foreign
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I reffered to the basics
SalarHaqq
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Terrible news for Iranian liberals i.e. so-called reformist / moderate factions. As well as for the anti-IR mo'āned opposition in exile. Anyone doubting or trying to obfuscate this ought to take a look at the deeply irritated manner in which media associated with these two groups have been reacting to the event. A couple examples are cited in the discussion below:
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indushek
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On average about 80 percent or above of global trade, happens in Dollar denomination.
About 60 percent of Global forex reserves are held in Dollars.
About 66 countries, which includes Oil rich Middle Eastern nations peg their currency to Dollar. Am sure everyone knows the value of Oil here.
If people believe that there will be a common Brics currency in short term, and then a alternate to Swift system .. its fools paradise.
This will be a long and painful road ahead, where everyone will pull each other in Opposite direction.
I mean how foolish can one be, by openly stating that we are here to displace the current super power's position as world's reserve currency? Most except Russia and Iran, have substantial trade ties with US (which includes China).
Its like waving red flag to a bull that can rampage at any time lol.
About 60 percent of Global forex reserves are held in Dollars.
About 66 countries, which includes Oil rich Middle Eastern nations peg their currency to Dollar. Am sure everyone knows the value of Oil here.
If people believe that there will be a common Brics currency in short term, and then a alternate to Swift system .. its fools paradise.
This will be a long and painful road ahead, where everyone will pull each other in Opposite direction.
I mean how foolish can one be, by openly stating that we are here to displace the current super power's position as world's reserve currency? Most except Russia and Iran, have substantial trade ties with US (which includes China).
Its like waving red flag to a bull that can rampage at any time lol.
US will nuke at least half of these uppity BRIC countries before these pretenders even think about embarking on displacing dollar. The rest it can easily introduce to color revolutions and active insurgencies, prime candidates will be India and Russia.
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In BRICS, few countries like India are playing on both sides of the field, and it is very hard to compete with the USA. As everyone knows, India is a proxy player of the USA in the Asia Pacific to keep check on China and now imagine how BRICS could develop and achieve its goals. It's just a futile exercise. I cannot believe we have to state this simple fact to the hardliner BRICS supporters on here they are simply being led up the garden path.
India is the western mole inside of BRICS and will sabotage anything resembling to challenge western/American dominance.
indushek
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Depends on one's perspective I guess, as for us Indians we are hedging our bets properly. Something anyone who wants to be safe does.
Let me also provide the other side of the picture, so that you can decide who is a proxy or mole. Things can't be clear without full picture before us
What is meant by de-dollarization? - Global Times
www.globaltimes.cn
It (De-dollarization) all started with Financial crisis way back in 2007 and 2008, but not much was done till Russian funds got frozen post Ukraine war. Do you know how long that is? Did India stop Russia and China's work on De-dollariztion through this time (2008 to 2021)? Why were they holding more than 600 Billion dollars on average (or even more perhaps) in Dollars in strategic reserves?
BRICS was started to pool together growing economies, and lobby for market access and conducive monetary policies globally etc. You can't jump start a procedure like De dollarization (which was kept in cold storage) till one got sanctioned and other is seeing friend shoring and nearshoring, and then expect everyone to fall in line because two out four members are facing troubles due to their own actions.
Now I will qualify this by saying, it was wrong of US to weaponize dollar and Swift. However is this something new?
The bolded part is true, but not because few like India are playing both sides. It's because economically they are at the top for past century, please think about that.
Even after offshoring manufacturing and IT related services, US still tops in innovation. There is no other country, that can beat them currently. These are hard facts, one can like it or dislike it.
Cringe and false take rooted in internalising Western propaganda
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