🌍 Question of the Day: As #BRICS nations strive to reshape the global economy, what impact will their establishment of a Raw Materials and Grain Exchange have on trade and economic autonomy worldwide? Could this potentially challenge the Western-dominated financial systems in the future? Join the discussion by sharing your perspectives and insights. #BRICSRevolution #GlobalEconomics #TradeIndependence
This isnt changing something for the "third world countries" big powers like china us or russia will keep depleting other nations resources to sell their manufactured products, like great britain did in its times. I though that nearshoring could solve the need of every country to have some industry and a reliable source of work but it is always the same old game, predating natural resources from weak countries for the sake of power and greed.
@@mauribonada2425 Thank you for sharing your thoughts. It is important to recognize that international relations have a complex and varied history, including past exploitation of Western nations against others, especially in developing countries. However, the world is changing: Countries such as China, Russia, and India are emerging as partners, mainly because they do not have the same colonialist approach, as is evident in regions such as Africa and Latin America. To keep up with these changes, we need to abandon obsolete Western perspectives and embrace a dialogue that values the growth of a truly diverse and balanced world order.
Acindar is an indian owned steel manufactured company in argentina, the inidans decided to close it and left hundreds with out work, they learned from the brits very well, they use the same logic.
@@mauribonada2425 It's essential to approach the complex issue of Acindar's closure with a balanced perspective. While it's true businesses operate for profit, not just glory, drawing parallels with colonial practices overlooks the broader context of global capitalism. In Italy, the same company have preserved jobs, highlighting the variability in outcomes. This situation underscores the need for governments to play a proactive role in investment and regulation to protect workers, beyond the motivations of private companies.
The BRICS alliance on trading of raw materials is a big move. It will be in non-US$, and outside SWIFT, so independent to the West's hegemonic control.
The great thing about Russian wheat's are GMO free, and the farmers are independent from corporate adoptions, unlike the collective West. From Australia 🇦🇺
@@wyliamulayye7534 after the collapse of the dollar, there will be a clear path available for Australia to join BRICS in due course, same for Mexico, which could be the last Latin American country to join, although Argentina may end up being the last, sadly (it should join asap, and Brasil has encouraged this, but Milei seems to have fallen into the western den of vipers).
BRICS+ should adopt Monero ($XMR) decentralisation from hegemony states, Privacy for business Confidence, and pegged by Consensus for the people by the people in Computer codes we trust.
De-dollars isn’t the worst thing happened to the U.S.. The Russian are coming up with an alternative system, Replacing the swift, trading and reserves.etc. No one wants to be robbed of their National wealth. That the goal American can’t overcome.
At Last! I have been saying that Russia using London, Chicago and New York as the trading exchanges for selling their Commodities was a stupid idea, and enriched their Adversaries. This move will cave in the economies of the G7, and will enrich the producers of those commodities.
Britain's Salt Act of 1882 prohibited India from collecting or selling salt. Indian citizens were forced to buy the vital mineral from their British rulers, who, in addition to exercising a monopoly over the manufacture and sale of salt, also charged a heavy salt tax. BRICS is by definition a continuation of the age-old battle to break the trading shackles forged by the dominating Western imperialists over the last three centuries. It's sad to note that no matter how many wars are fought, humanity it seems will always follow greed, and subsequently never learn that when you exploit another you risk having the exploited rise up and become the exploiters of the future. I hope BRICS change the status quo and do not follow the traditional path of the greedy. The world, you would think, would be united by now on the idea of the survival of humanity carries precedence over everything but it appears that greed always manages to divide us. Which, unfortunately, is the case right now
Your pessimism is well founded but your conclusion is wrong. We don't have to perpetuate a violent sysytem designed by lazy bums which, because they still have to eat meet their needs through violence which they babtize as smartness. They then make laws to legalize their violence. You are made guilty if you oppose their looting. To paraphrase the Great Rosa Luxemburg, "this is barbarism." Remember, its the west that been driving politics and economics until now, and its approach is not that we are better together but survival for the fittest. Brics is leading in this "we are better together approach" and the west is terrified that it will have to abandon its approach or die.
@@dkblack1289 The West has always practised the policy that we are better, stronger together albeit only with like-minded powerful imperialists. BRICS has yet to prove itself on the long term. Greed is a human condition and it's contagious. What I would like to see happening is for the West to accept the new norm and start to work with BRICS in earnest to map out a new multilateral world order. Like I said, I'm hopeful.
@@oneobekanobe Your desire to move forward and to coorperate with the BRICS is welcome. But you cannot deny that imperialism has been the western driving force for the last 500 years. Yesterday, I was looking at the statics of western genocide since 1492 when Christofo Colombo landed in the Caribbean, and the numbers are staggering. From the inside, western drive might appear to you like cooperation but that is gangersterism on the side of victims. Remember there is no gang of one. The west should not be afraid to lay down their arms for the Global Majority are willing to move forward and make a better world. However, because of their deceptive hearts, they think that the call for peace is a trap because that is what they have always practiced.
@@dkblack1289It is the proverbial catch 22 syndrome. It will require a lot of courage and barefaced trust from both sides to see the advantages of peaceful cooperation. That's me, wishful thinking when I know the world doesn't work like that. We still have to get beyond basic animalistic instincts like jealousy and superiority ideals before we can move forward with any meaningful cooperation. And of course there is the ideology connected to our respective political systems that for some crazy notion each competitor believes they have the ultimate solution and therefore must lead the pack. The concept of sharing is still in its infancy. We still regard one another as adversaries instead of partners on this lonely planet we all call earth.
The fact that such an evil system was tolerated for so long is only do to the masses being kept in ignorance. This must never happen again. Knowledge is power
It's better to have those who are in the project whole heartedly rather than those who are controlled by other players. They'll only create hurdles in 'unanimous' decision making and might just be playing moles.
All praise to Almighty God; A world of mutual respect and honest business transaction among nations ; there can be a more humane society where there is mutual respect. For all of humanity on planet earth. If the new BRICS organization can ushering a new environment, Where there can be; fair and honest business transaction ; humanity will be able to exist in greater harmony. All praise to almighty God amen.
I see an extremely significant advantage to the BRICS community. Since all trades will happen on C2C basis, country to country, and that too in their local currencies the US based overseeing cr00ks, read banks and CIA, will be kept in the dark and will lose their ability to manipulate global pricing, commodities cornering and controlling markets.
"The Times They Are a-Changin" That was 1964, the year of the Gulf of Tonkin pretext for the USA Viertnam war. Something Americans should study to better understand their country. It cost you dearly, learn something from it so it's not wasted.
I remember the tulip bubble. In the end, these things are more important than Bitcoin or speculative papers for example. Success for us. Greetings from Brazil.
Jai Hinduja. We Indians have whole beach of unexploited minerals like Thorium for commodity trade. This will augur well for any BRICS member wishing to trade in Rupee local currency.
Of course, a new, fairer trading system will challenge the old hegemonic system. Life is full of changes as old systems, ideas, forms are replaced or reformed by new views. We can't stand in one place forever. Life systems are dynamic, ever changing & renewing.
Now go back to the 'Global Wheat Exports' chart 4:50 and add the blue and red columns together - Ru + Ukr. My stupid govt, Australia, had better work this out before China has no need of our grains - esp wheat. 😊🇦🇺
All of you wonderful Aussies need to remove your government , declare your sovereignty and not get sucked into the insanity being planned by the City of London and Wall Street. There will always be a market for your great commodities. We are the leaders we have been waiting for.
The disappointment is that they're still talking about the need for and creation of a payment system. Which tells me there's nothing solid currently in the works. I really thought they were further ahead and had something tangible to show by now. But alas, it's still early days, so I understand.
@@Mortum_Rex We know, we mentioned the Euro because as the basis of this new payment system, the BRICS are studying an "ECU formula" ... in any case, Brazil and Iran still seem to be leaning toward a common currency.
Nice overview of the food space. Maybe we could have the equivalent of LME too over time in this structure. CBOT/CME and traders like Trafigura dominate this market today.
All the money in the world is useless if you can't use them to buy anything. Just curious what if Africa countries say they only accept their local currencies for trade. That would mean people with Euro and US$ will have to go to African banks to buy their currencies. The west still control a lot of technologies. But most of these BRICS countries don't need them or can afford to buy them anyway. The 32 studied African countries altogether have average of 1 MRI system per million population. They better off work with China in developing their own technology instead of relying of the expensive western equipment and services.
Each nation has its own policy and approach to this issue. We have been thinking for a while about the need to make a video on this topic, but we need to explore this further.
It is not so much that existing institutions to facilitate trade are inherently bad. It is the degree that bureaucrats within them can be manipulated politically or by corrupt practices to enrich users beyond normal trading. That American and European politicians are prepared to eliminate trust in such institutions for purposes of weaponizing them against others has taken the flaws in the systems to the extreme.
I’d like to be help sell and train people to use this product globally. This is key for all commodity markets … rice and coffee should be next then soya, food oil, tea, etc. This should remove global leaders that have bought large farms using paper dollars that were printed en masse. It would be good to remove the Clinton’s hold of land purchased through donations.
Loans that are secured with actual valuables? No way! I guess that will make a "Savings & Loan" scandal impossible. Remember the ploy? DuPont got to appraise its own collateral, and got a loan of $300 million, used that money to repair their papermill in Florida 1990s. Then the banks foreclosed on the swampland they put up as collateral, the taxpayer bailouts bonds just rolled over, we paid $25 mil in interest for that deal alone.
Would like to see a pro forma Federal Union of Eurasian Socialism including Kazahk- Uzbehk- and Turkmenistan and the Caucasian Armenia, Georgia and Azerbaijan joining an expanded BRICS. Mongolia should be part of the integrated Sino-Eurasian rail and logistics system of exchange and provide a complete bulwark to any form of militarisation of the geopolitical landscape. In a similiar fashion the MENA - Middle East & Northern African countries should form a voluntary association aligned to Brics with a Charter expressing a non neo-colonial basis of Trade internal to the body and associated to the expanded BRICS+. In all several geographic global regions ; that of West-, East-, Southern- and Central-Africa could and should be established through BRICS+ facilitation under the current Russian Chairmanship. The South Eastern Asian economic community is to all indications voicing its desire for a similiar financial and trade settlement order to be formalised for which Malaysia, Indonesia, Vietnam, Laos, Singapore and Thailand would be pivotal to coherent membership. Joining BRICS+ in its current phase of membership growth is as much about equitable trade settlement as it is about food and fuel policy security and consensual development.
This will break the West control of trade. With this commodity nations can opt out of trading their products in London and New York. That would drive them crazy and job losses is guaranteed.
ETFs are already available ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-wOaossvv-V0.html or you can invest with the classical systems of each individual country. New perspectives will surely open up after the implementation of these financial and stock market structures currently under study. Always consult professionals, which we are not!
No one knows if there will be a "common BRICS currency," it is an ongoing discussion but we do not see it in the near future. Bitcoin is a good tool, but for trade between countries it is too complex a solution.
US dollars dominance over the British currency was no problem after WW2. So why should Brics countries have a problem in their own currency trade?? 😅 😂
Dont be fool all this will be calcalated in us dollars,because people exchange is more than others.i sure russia could only use india money if they buying from india.what would india do with russia money,paying to china,weird,all if them have different exchange.
This is the crux of the current debate.... In any case, many bilateral trade activities among BRICS members are already conducted in local currencies. It is also not to be ruled out that trade could also take place with some sort of barter, if there are clear agreements behind it. We shall see, but to be clear, the BRICS are not working to "destroy" the dollar (this will bring problems for them as well), but to reduce its role as the world's currency parameter and, most importantly, to prevent it from being used as a weapon against competitors.
The Indians are already using rubles to buy oil and gas. There's always gold, too....(P.S. the Petrodollar is dead, they just haven't held the funeral yet, that's coming later this year).
I don’t see a common currency happening as such. I see a currency more like the bancor that kaynes envisioned. Just being used as a common trading currency
This is a very good point! We will follow all the updates coming in the next months.... thank you for your comment, it is a very interesting case to look into with a video or specific interview.
Thank you for sharing your thoughts. It's crucial to remember that opinions about China's economy and Russia's involvement can be influenced by media portrayals. While China's economy is facing challenges, it's not as bleak as some describe. China has demonstrated resilience and recovery potential. The discussions surrounding Russia's reparations and territorial actions are multifaceted and ongoing. Both situations involve intertwined geopolitical interests and perspectives. Let's monitor these developments together and engage in respectful conversations.
