A BRICS Alternative to the SWIFT Payment System Could Accelerate De-Dollarization 

Explore the Groundbreaking BRICS Payment System: Challenging Dollar Dominance
In this Money Metals Exchange article, "A BRICS Alternative to the SWIFT Payment System Could Accelerate De-Dollarization," by Mike Maharrey, we cover a growing area of concern for BRICS vs U.S. global currency dominance.
In this insightful video, we delve into the BRICS bloc's bold move to establish an independent payment system that could reshape the global financial landscape. As Russia leads the charge, the potential acceleration of de-dollarization is examined, with the BRICS expanding to include key players like Saudi Arabia, Egypt, and Iran.
The video sheds light on the SWIFT system's role in facilitating the international dollar system and the U.S. government's ability to leverage it for foreign policy. The development of alternative systems like SPFS and efforts to integrate them with China's CIPS highlight the BRICS' determination to create a viable alternative to the existing order.
Explore the process of transferring money, the potential usage for sanctioned countries, and the broader implications of this shift, including the threat to dollar dominance and the economic ramifications of de-dollarization.
Don't miss this opportunity to stay informed on this pivotal geopolitical and economic development. Like and share this video to spread awareness and join the discussion on the future of global finance.
BRICS = Brazil, Russia, India, China, South Africa
#BRICS #PaymentSystem #DeDollarization #SWIFT #SPFS #globalfinance #gold #money #federalreserve #usd #dollar #economics #economy #geopolitics #preciousmetals #russia #china #brazil #india #southafrica
Original Article: www.moneymetals.com/news/2024...
OUTLINE:
00:00:00 Introduction to BRICS and De-Dollarization
00:00:24 The Expansion and Influence of BRICS
00:01:06 The Role of SWIFT in Global Finance
00:02:05 A BRICS Alternative to the Dollar Payment System
00:03:14 Potential Success of a BRICS Payment System
00:03:42 Implications of an Alternative Payment System for the U.S.
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