The BRICS nations are Brazil, Russia, India, China, and South Africa. They trying to set up their own reserve currency based on something tangible (gold?) or involving a basket of currencies. This is because at present the US $ dollar is the reserve currency of the world which affords economic and political power to the USA. Most of the world's commodities are traded in USD.
This current instability of the situation may be the real reason why a Vatican report showed for example that the vatican called its funds in. ,Also The New Arab reports that MBS of Saudi Arabia took similar action.
At the same time, Governments are printing too much money which devalues currencies and increases inflation. The WEF (World Economic Forum) want to move to central bank digital currencies by which money (and therefore populations) could be controlled .
In a speech shown on Putin speech, President Vladamir Putin of Russia comments that economies are based on debt and imaginary wealth with the dollar depreciating every year and can be confiscated or frozen at the whim of the USA.
XRP Ripple
Ripple is an international electronic money transfer system for use by the financial services industry. It was created in June 2012 by Ripple Labs inc in the USA. The company then created XRP cryptocurrency which is currently number 7 in the popularity leaugue behind Bitcoin and others. One XRP is worth £0.27. Whilst the XRP crypto tokens are native to ripple, Fiat currencies such as dollars and pounds , and other crypto currencies such as Bitcoin may all use the Ripple system. It is one of the favourite systems to maybe take over from the current dominant global system called SWIFT.
So let's look a little nearer to the beginning around year 1973 with the formation of the Society for Worldwide Interbank Financial Telecommunications (SWIFT). SWIFT is a worldwide co-operative of financial organisations which provides a secure way of making financial transactions across the world. Each member has unique identity code of between 8 and 11 digits: This code is also known as a Bank Identifier code (BIC) or ISO9362 code.
First 4 digits - this is the institute code eg UNCR is for the UniBanca in Milan Italy.
Next 2 digits - Country code eg IT for Italy.
Next 2 digits - city code eg MM for Milan.
last 3 digits - optional code usually used by the organisation to identify a branch .
SWIFT is only a messaging system that does not itself hold any funds or manage any client accounts.
So Ripple is both a messaging system and has its own native cryptocurrency. It has gained in popularity with some big names signing up to it including HSBC and Santander banks. Former Goldman Sachs expert Andrew Lokenath believes Ripple XRP will likely take precedence as public currency as soon as Ripple is able to resolve its SEC problems.
Central Bank Digital Currencies
This video from Youtube shows entrepreneur Pippa Malgren at the World Economic Forum. She is saying that we are about to abandon the traditional system of accounting which underpins our global financial system. Instead, central banks will have digital currencies (CBDC's). She mentions that the world is being divided up and countries have to pick a side. The US is on the brink of converting to digital currency with China and EU also going down a similar route.
We are being prepared by the World Economic Forum for the famous date: 2030. Money printing across the world has created soaring inflation and dangerously slowing economies and production levels. Net zero carbon emissions is the aim so that we can stop climate change and stop the wasteful use of some of Earth's precious resources. A global digital currency will have started . We will all be taxed in various ways based on the amount of carbon that our lifestyle choices result in. Have a look at AliBabba group president J.Michael Evans speaking at the World Economic forum 2022:
Many people do not want any disagreement to the plan for the planet. . Here is Australian Esafety commissioner Julia Inman Grant speaking about "re-calibrating" things such such as (online) rights to free speech.
