Seeds of Wisdom RV and Economics Updates Thursday Evening 10-9-25
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BRICS Pushes Eurasian Nations to Curb the U.S. Dollar
At the 2025 SCO Summit, China led a campaign for 10 Eurasian countries to agree on reducing dollar dependence—and forging new financial paths.
What Was Unveiled
● New Development Bank in Local Currencies: During the 2025 SCO (Shanghai Cooperation Organization) Summit, China proposed that Eurasian member countries create a New Development Bank where loans are issued in local currencies instead of the U.S. dollar.
● Alternative Payment System: The summit also agreed on advancing a new cross-border payment network to bypass U.S. dollar-based systems entirely.
● Countries Involved: The SCO and BRICS overlap among these 10 nations — including China, Russia, India, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Uzbekistan, and Belarus.
Why This Shift Matters
Undermining Dollar Hegemony: By routing lending and payments through local currencies and non-USD rails, BRICS seeks to erode the structural dominance of the U.S. dollar.
Sovereign Leverage: Countries issuing debt or receiving investment in their own currency avoid exchange rate risk, sanctions, and external leverage.
Regional Financial Architecture: A Eurasian bloc using a shared financial infrastructure creates network effects that reduce reliance on Western institutions.
Test Case for Global South: Success in Eurasia could inspire other regions—Africa, Latin America, Southeast Asia—to adopt similar frameworks.
Challenges & Frictions
Divergent Interests: Within SCO, relationships are fraught—India vs. China or India vs. Pakistan tensions may impede unified action.
Economic Disparities: Many participant states lack capital market depth or strong currencies, making local-currency lending risky.
Institutional & Legal Hurdles: Frameworks for cross-border conversion, interoperability, and dispute resolution are complex and not yet in place.
Dollar Inertia: Many contracts, trade deals, and reserves are still denominated in USD—transitioning away is a process, not an instant shift.
How This Fits Into the Bigger Reordering
Building Parallel Rails: This move is consistent with BRICS’ strategy: rather than attacking the dollar directly, build alternatives that gain traction over time.
Decentralizing Reserve Sovereignty: With local currency lending, member states reclaim control over capital flows and credit.
Momentum for De-Dollarization: This is a real operational step beyond rhetoric—moving trade, credit, and payments toward non-USD systems.
Blueprint for Others: If Eurasia succeeds, it becomes the template for financial realignment across other geographies.
Why This Matters / Key Takeaway
China’s leadership in persuading Eurasian states to curb dollar dependence is a bold tactical maneuver in the broader strategic war over currency dominance.
If global capital and credit gradually shift to these new rails, the architecture of international finance will recalibrate from the ground up.
This is not just politics — it’s global finance restructuring before our eyes.
@ Newshounds News™ Exclusive
Source:
• Watcher.Guru – BRICS Makes 10 Eurasian Countries Agree To Curb the US Dollar (watcher.guru)
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