ZeroHedge: Challenging the western monetary system, the Eurasia Economic Union is leading the Global South toward a new common payment system to bypass the US Dollar…
The Eurasia Economic Union (EAEU) is speeding up its design of a common payment system, which has been closely discussed for nearly a year with the Chinese under the stewardship of Sergei Glazyev, the EAEU’s minister in charge of Integration and Macro-economy.
Through its regulatory body, the Eurasian Economic Commission (EEC), the EAEU has just extended a very serious proposal to the BRICS nations (Brazil, Russia, India, China and South Africa) which, crucially, are already on the way to turning into BRICS+: a sort of G20 of the Global South.
The system will include a single payment card – in direct competition with Visa and Mastercard – merging the already existing Russian MIR, China’s UnionPay, India’s RuPay, Brazil’s Elo, and others.
That will represent a direct challenge to the western-designed (and enforced) monetary system, head on. And it comes on the heels of BRICS members already transacting their bilateral trade in local currencies, and bypassing the US dollar.
This EAEU-BRICS union was long in the making – and will now also move toward prefiguring a further geo-economic merger with the member nations of the Shanghai Cooperation Organization (SCO). Read More …
Opinion: Over 50% of the world’s nations are designing an economy without the US dollar as the world reserve currency. The development of Central Bank Digital Currencies (CBDCs), that could be operational in 2023, will give the nations a common currency.
- BRICS – Brazil, Russia, India, China, South Africa – 25% of global GDP and 41% of world population
- EAEU – Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia – 2.1% of global GDP and 2.3% of world population
- SCO – China, India, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Pakistan and Uzbekistan (with Iran soon to join) – 30 percent of global GDP, and 40 percent of the world’s population
Since Russia and China are members of more than one economic union, it is hard to get stats on GDP and global population percentage. However, it is not hard to imagine that with so many governments wanting to end the US dollar’s dominance as world reserve currency, that plans are being made to do so. The question is when?
If we use Russia’s move on Ukraine as an example, it does not take a global expert to put a few facts together:
- Russia took Crimea on February 27, 2014 half-way through the Obama/Biden 2nd term
- No rogue government moved in tyranny on any nation during the Trump term in office
- On February 24, 2022, Russia invaded Ukraine just 11 months into the Biden/Harris administration
- On July 22, 2022 BRICS members called for cross-border payment in BRICS currencies to challenge the U.S. dollar
- The Biden/Harris administration reached the half-way mark on November 8, 2022
When the US is in weak hands, dictators have an opening for tyranny both militarily and economically:
On March 2, 2022 Chairman Powell made a startling statement:
Global leaders are now preparing for a new economic order, and for the world to be divided into a ten-nation confederacy prophesied in Daniel 7:24 …
“The ten horns are ten kings
Who shall arise from this kingdom.
And another shall rise after them;
He shall be different from the first ones,
And shall subdue three kings.”
… and the rise of Antichrist.