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BRICS’ Desperate Attempt at Relevance: They’re Trying to Save Themselves From Irrelevance With… National Currencies?!

BlockchainCrypto NewsRegulation/Negotiation Barry Thompson September 24, 2024

An illustration depicting a giant dollar bill being torn apart by multiple hands, each holding a different national currency (Ruble, Rupiah, Real, Renminbi). The fragments are scattered in the air as people from various countries walk away with their respective currencies, symbolizing the shift towards dedollarization and increased use of alternative payment systems.

It looks like BRICS are trying their hand at creating alternative payment systems, but let’s be real, it won’t be a cryptocurrency that saves the day for them. No sir, they’re talking about good old-fashioned national currencies and traditional financial platforms. How quaint. It seems even Russia is tired of playing with fire when it comes to crypto – remember all those sanctions? Yeah, no thanks. And don’t get me started on Lavrov’s claims about dedollarization; the US dollar may not be as dominant as it once was, but that doesn’t mean some obscure BRICS currency will fill the void. Mark my words: this is just a bunch of posturing by nations trying to cling to their economic relevance in an increasingly digital world.

Source: bitcoin.com

BRICS to Discuss Alternative Payment Platforms at Upcoming Summit
https://news.bitcoin.com/brics-to-discuss-alternative-payment-platforms-at-upcoming-summit
Russian Foreign Minister Sergey Lavrov announced that a report on alternative payment systems for BRICS nations will be presented at an upcoming summit in Kazan. The proposal, led by Brazilian President Lula da Silva, seeks to reduce reliance on traditional financial platforms. Lavrov emphasized the increasing use of national currencies in BRICS trade, particularly with China and India, and positioned the shift as part of a broader dedollarization trend, underlining […]

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Barry Thompson

Barry’s crypto nightmare began when he bought Bitcoin at $3, thinking he’d stumbled upon the financial opportunity of a lifetime. He sold his stash at $100, only to watch in dismay as Bitcoin soared to absurd heights. Now, Barry channels his rage into scathing articles about the crypto circus, seething with resentment at the digital gold rush he barely missed. His motto: “I sold out at $100, but the joke’s on me because the real joke was believing in this absurd circus.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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