BRICS represents 40% of world’s population; Summit Meeting in Johannesburg to include discussing alternatives to the dollar

BRICS flags

Revelations 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”

Important Takeaways:

  • BRICS to discuss common currency plan during the summit, says South African Foreign Minister
  • The BRICS group of nations will discuss the feasibility of introducing a common currency and shouldn’t rush any decision, according to South Africa’s foreign minister.
  • US interest-rate hikes and geopolitical conflicts have pushed up the value of the American currency and all the commodities priced in it, to the detriment of most emerging markets.
  • That spurred calls for alternatives to using the greenback as the global trading currency and one option that’s been flighted is for the BRICS bloc
  • BRICS represents more than 40 percent of the world’s population and almost a third of global economic output, making it one of the world’s most important economic blocs. Several other nations, including Saudi Arabia and Iran, have expressed interest in joining its ranks.
  • BRICS nations and other countries “are saying why can’t we trade in our own currencies? Why are we committed to trading through the dollar?” Pandor said. “South Africa has an internationally traded currency. However, we hold a lot of debt in dollars so you know we have to approach this discussion responsibly.”

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