BRICS Gold Backed Unit, XRP and Membership News 6-18-2024
BRICS 2024: XRP In The Spotlight As Russia Confirms New BRICS Payment System
Geopolitical Analyst: 6-18-2024
The BRICS group is advancing its currency sufficiency scheme with the potential development of its own independent payment system.
Is XRP In View as BRICS Bridge Currency? According to a research paper first spotted by XRP enthusiast Amelia, Russian President Vladimir Putin has confirmed that the bloc is finally moving forward with its alternative currency plan.
From the report, there are indications the bloc would explore the use of Ripple-associated XRP for cross-border settlements.
Before now, the Bank of Russia introduced a project on cross-border transfer implementation. This project reportedly considered the use of the Ripple payment system. It was perceived as an excellent basis for the development of a system for cross-border settlements for the group.
It is worth noting that XRP is known for its transaction speed and low costs. Hence, it seem like a viable system the bloc is considering to revolutionize its international payment goals.
This move to adopt the cryptocurrency may trigger a massive jump in the price of XRP. CEO & Founder of Cryptonairz, Robert Doyle (Crypto Sensei) believes that XRP’s price may reach $10,000 if BRICS countries adopt it widely.
There is a general opinion that member countries in BRICS stands to gain so much from choosing XRP as their alternative to the United States dollars. The volatile currencies and developing economies of these nations are perceived as challenges that XRP could improve.
The BRICS' Plans For Proposed Gold Backed 'Unit'
Arcadia Economics: 6-18-2024
Over the past few months reports have emerged that the BRICS are now more actively moving along plans for a gold-backed settlement currency called 'The Unit.' Which has the potential to impact the current monetary regime if implemented as proposed.
And to find out what's really happening, and separate fact from fiction, I'm joined by Matt Riley of EF Bullion, who was warning about what we're seeing now long before it was reported anywhere else.
So if you've been hearing about the BRICS potentially moving forward a gold-backed currency, and want to know whether that's really a possibility, you'll want to click to watch this video now!
MAJOR BRICS Update: The Plan is Working Per the IMF
Taylor Kenny:
In this Week’s News, Taylor Kenney explores the latest developments within the BRICS bloc, highlighting more Countries interested in joining the coalition.
With the BRICS bloc growing, it poses as a significant threat to the U.S. dollar's dominance, a concern echoed by the IMF's latest data.
With emerging markets increasingly trading outside the dollar and central banks hoarding gold, the landscape of global economic power is rapidly shifting.
Stay tuned to learn how these changes could impact the future of the U.S. dollar and global trade.