Will Sinkieland join BRICS?

[KingFook Sr]

Talking rot.
Chinese won't even want to open their WeChat fiance eco system to anyone outside Chinese control.

If they would,rest assured the Chinese will be sending all their money out of China in the soonest possible way.

This guy does not understand that it's the freedom and democracy that allow people to thrive and speak freely. In china he will be deemed a destructive force and he will not be allowed to use his money, WeChat account and can't even use the transport.

You let china become a leader ? It will be the last of you.

congo9
Can the payment be consistent? Trusted?

 

[Loofydralb]

That was before. Now the US is a bully nation imposing sanction, regime change and impoverishing dozens of poor countries from Venezuela, Cuba to Iran and now russia and china.

USA is a terrorist nation. Collectively they have killed more civilians than all the nations combined since WW2.
I hope Putin nuke em.

 

[Loofydralb]

All SE Asia countries starting to join the Dark Side.

So Singapore how? Become Singapoor soon?

Will Sinkie women soon have to go overseas and become maids and Cheekons?

Worse than that, you'll be working in some third world country and be transported on the back of pickup trucks.
How ironic that would be.
Anyway nobody wants to be friends with pain-in-the-arse fair weathered neighbours.
That's the reason Mr Kee Chiu asked if SG will still exist after 100 years.
They've discussed this fully and recognized that fact. So before that happens, people will want to get their hands on companies like Income etc. before everything implodes.
You deserve it for believing what LKY told you.

So MIGRATE NOW! While you still can for the sake of your children.

 

[k1976]

That was before. Now the US is a bully nation imposing sanction, regime change and impoverishing dozens of poor countries from Venezuela, Cuba to Iran and now russia and china.

In a real world, we live in 500000 shades of Grey

 

[k1976]

All SE Asia countries starting to join the Dark Side.

So Singapore how? Become Singapoor soon?

Will Sinkie women soon have to go overseas and become maids and Cheekons?

Maid and Cheekon for Satik Rich Fuking Clan?

 

[k1976]

congo9
Can the payment be consistent? Trusted?

If small amount few hundreds , surely no problem de

 

[k1976]

So many Google DataCenters here, how to join?

 

[superpower]

Well...at least your money is safe in the western bank. Your money won't get lose in a deposits. Your money can be freely traded in US.

That's what people thought until the US wielded its USD sanctions against Iran and Russia. Now suddenly you can't trust Western banks anymore... unless you keep on sucking America's balls... even then one misstep and you'll find all your USD assets frozen. This is what we call weaponization of the dollar.

On the other hand, the yuan is not freely convertible, for various reasons. But has China ever weaponised the yuan?

 

[Willamshakespear]

That's what people thought until the US wielded its USD sanctions against Iran and Russia. Now suddenly you can't trust Western banks anymore... unless you keep on sucking America's balls... even then one misstep and you'll find all your USD assets frozen. This is what we call weaponization of the dollar.

On the other hand, the yuan is not freely convertible, for various reasons. But has China ever weaponised the yuan?

My sincere apologies if I have to disagree with your post.

As the Yuan is not freely convertible, such alone would send dire warnings to investors & crucially - savers.

"Non-convertible currency refers to a currency that is not easily exchanged or traded on forex markets. One reason that a nation may choose to make its currency into a non-convertible currency is to prevent a flight of capital to offshore destinations."

World trade rely on readily convertible currencies such as EU, US & the Free World, so that at anytime & anyplace or port, goods discharged or loaded are paid according the dollar currency required. With the Yuan being not freely convertible, it would mean critical delays to shipping trade, even to Yuan dollar required ports...

Not to mention even life long saving deposits which are held under Yuan or insane BRICs currencies - as it would mean difficulty to buy goods, or trade with the rest of the World or convert to safer currencies, as BRICs nations - Brazil, Russia, India, China & many of its dictatorship ruled nations, are well known for their fiscal management....What would happen to individuals & corporate savings in BRICs accounts?

Many & proven many, had their life savings account WIPED out - not because of free market conditions, but simply because BRICs leaders needed the money to upkeep their egos, pride & political survival thru insane funding such as wars or monumental disastrous white elephants...

While it is true that the Free World DID use the US dollar as a weapon, but it is often only USED under the most DIRE circumstances - such as to prevent nuke WEAPON proliferation, Terrorist killings of innocents, or harmful Hitler type CONQUESTS upon our modern World.

Trust in the proven 200+yrs US dollar or have one's precious life savings wiped out as China citizens found out?

Another point in our favor is the Free/Fair Trade agreements we have with USA, EU, China & many more other nations. Singapore is & will always be a port nation. All points of the compass meet at our strategic location. Regardless whatever currencies - import/exports in TRANSIT here will still HAVE to go thru or be delayed which NO nation or its needed entrepreneurs & consumers would want.

Shippers & logisticians are not fools, even if the average saver with life savings may be....

Equally, bear in mind - BRICs nations are MAJOR EXPORT orientated countries, with Billions of citizens mouths to feed. Should their cargo ships arrives at ports & DEMAND to be paid in BRICs currencies, then most IMPORTERS will have concerns - why do so when such currencies are NOT STABLE & lacking in CONFIDENCE, to have such funds which may CHANGE any minute?

It will not be a mere few dollars BUT BILLIONS, to be held ready for such goods. Think of their currency losses... thus, those BRICs will either have to have their cargos remained on decks, wasted, leading to financial problems & revenues to their nations' economies LOST, not to mention the ire of their citizens.....

 

[Hypocrite-The]

Why should singkieland join Brics? Brics good for wat?

 

[superpower]

The US is shitting bricks...

 

[Hypocrite-The]

Putin's dollar problem is on clear display at the BRICS summit, starting with the moment guests land at the airport
Huileng Tan
Oct 23, 2024, 5:08 PM GMT+8
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Russian President Vladimir Putin waking into a room with BRICS 2024 banner, China flag, and Russia flag.
Contributor/Getty Images
Russian President Vladimir Putin is hosting the BRICS summit in Kazan, Russia.
Putin is touting trade in local currencies, a move away from the US dollar.
Despite the de-dollarization push, summit organizers advised attendees to bring dollars and euros.
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Russian President Vladimir Putin is hosting a major summit with more than 20 world leaders whom he's trying to convince to ditch the dollar.

De-dollarization is one of Putin's priorities because trading in local currencies would mean that a heavily sanctioned Russia wouldn't be beholden to the Western US-dollar-dominated global financial order.

But it's not easy to move away from the greenback. The organizers of the BRICS summit have advised foreign attendees to bring cash — specifically US dollars and euros — to the event in the Russian city of Kazan.

Most Russian banks will only take US dollars or euros — which Moscow has deemed "toxic currencies" — to exchange for rubles, according to a guide on the summit's website.

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Going cashless isn't an option since it's not possible to use Mastercard or Visa cards issued outside Russia in the country. The two card issuers halted local operations days after Russia invaded Ukraine in 2022.

China's Union Pay cards may be used — "but with restrictions," the guide says.

Attendees may apply for Russia's Mir payment card, and there's a bank at Kazan's international airport to get a card, exchange currency, and withdraw cash.

These issues with payments not only undermine the bluster of the BRICS group's call to de-dollarize, but they also underscore the immense challenge BRICS would have to unseat King Dollar, which is firmly entrenched in the global financial order.

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The group of emerging nations anchored by Brazil, Russia, India, China, and South Africa is not giving up.

On Tuesday, Putin again touted the use of local currencies on the sidelines of the summit's first day.

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"The growth of payments in local currencies makes it possible to reduce the debt service fee, increase the financial independence of BRICS member countries, and also to mitigate geopolitical risks to the greatest extent possible and, as much as possible in the current world, separate economic development from politics," Putin said on Tuesday at a meeting with Dilma Rousseff, the president of the BRICS New Development Bank, according to Russia's TASS state news agency.

Putin caps a social year with BRICS summit
Putin is also hobnobbing with Chinese leader Xi Jinping, Indian Prime Minister Narendra Modi, South Africa's president, and the UN Secretary-General at the summit this week. Brazilian President Luiz Inácio Lula da Silva canceled his trip after a fall at home.

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The BRICS summit is larger this year because the West-weary group has welcomed the new members of Egypt, Ethiopia, Iran, and the United Arab Emirates over the past year. Saudi Arabia has been invited but hasn't formally joined the club.

Russia is the BRICS chair this year, so a bigger summit is a feather in the cap of Putin, who has had a busy social calendar this year, even though Russia and the Russian leader himself have been heavily sanctioned.

Before the BRICS summit, Putin was already globetrotting and socializing with top leaders from Asian countries including China, India, Vietnam, and Indonesia.

Despite the BRICS' interest in reshaping the world order, the group is fraught with rivalries and competing interests that it first has to overcome, analysts told Business Insider.

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"Behind the rhetoric, there's a huge concern — even within Russia — whether the new members will become their equals," Evgeny Roshchin, a visiting scholar at Johns Hopkins University's Henry A. Kissinger Center for Global Affairs, said at a press briefing held by the Center for European Policy Analysis on Monday.

Read next
Watch: China's Xi Jinping praises Vladimir Putin during visit to Russia

 

[superpower]

https://www.financial-news.co.uk/brics-currency-unveiled-a-new-era-in-global-finance/

BRICS Currency Unveiled A New Era in Global Finance​

By SAM ALLCOCK23/10/2024

A new chapter in global finance has begun as BRICS unveils a mock-up of its long-anticipated currency. The summit in Kazan sees leaders embracing a model poised to challenge the current economic order.

This currency mock-up, prominently featuring flags of the member countries, signifies a united front. As these nations strive for economic synergy, the currency could serve as a tool to promote multipolarity on the world stage.

The Significance of the BRICS Currency​

The unveiling of a mock-up of the BRICS currency at the summit in Kazan, Russia, marks a pivotal moment for the alliance. This event symbolises the advancement of the BRICS nations towards establishing a unified economic front. Featuring the flags of Brazil, Russia, India, China, and South Africa, the currency embodies their solidified cooperation. Its design, showcasing these nations connected in a circle, is indicative of their collective vision.

On the reverse side of the note, additional flags of potentially interested countries such as Mexico, Egypt, Nigeria, and Bahrain are visible. This inclusion suggests an expansion of the alliance not only in name but in economic participation. The shared goal of a multipolar world, as articulated by various members, is becoming tangible through these developments.

Xi Jinping’s Historical Announcement​

During the summit, Chinese President Xi Jinping made a notable announcement about the bloc’s new payment system. His words highlighted the urgent need to revamp the international financial architecture. The proposed reforms aim to better align with the growing economic influence of emerging economies within BRICS.

Jinping’s emphasis on a new payment mechanism underscores the desire for financial systems that reflect changes in the global economic power balance. His speech at the summit underscored the necessity for BRICS to lead this transformation, positioning itself as a counterbalance to traditional Western economic dominance.

Blockchain-Based BRICS Pay System​

The forthcoming blockchain-based BRICS pay system is anticipated to revolutionise international trade. This new system offers an alternative to Western financial infrastructure like SWIFT. By adopting blockchain technology, BRICS countries are poised to enhance transparency and efficiency in cross-border transactions.

This initiative aligns with the bloc’s de-dollarization strategy, which aims to reduce reliance on the US dollar. Over the past year, this strategy has gained momentum, reflecting BRICS’s broader ambition to redefine global trade dynamics.

Expected to complement the upcoming BRICS currency, this payment system showcases the bloc’s commitment to innovation. It seeks to lay the groundwork for a future where financial sovereignty is a reality for its members.

Potential and Challenges of a Gold-Backed Currency​

Reports indicate that the BRICS currency might be backed by gold, aiming to instil inherent value and stability. Currently, gold is experiencing a peak in value, making it a strategic choice for this new currency.

The proposed backing system comprises a mix of 40% gold and 60% local currencies, like the Chinese yuan, Russian ruble, and Indian rupee. This blend seeks to balance stability with flexibility, leveraging the strengths of both gold and regional economies.

Challenges remain, as integrating multiple local currencies requires creating an adaptable economic framework. Yet, the potential benefits for member states could catalyse economic independence and growth.

Geopolitical Implications of the BRICS Currency​

The reveal of the BRICS currency has profound geopolitical ramifications. It represents a bold move to reshape the global financial landscape, challenging established economic hegemonies.

The currency underscores an aspiration to redefine economic hierarchies, facilitating trade that bypasses dollar dependency. BRICS’s efforts at economic unification could encourage other nations to contemplate similar shifts, potentially altering international alliances.

The Path Forward for BRICS​

The journey ahead for the BRICS currency and its members will not be without hurdles. Establishing a new financial system is a complex undertaking requiring cooperation and strategic planning.

The unveiling of the BRICS currency mock-up marks a significant step towards economic independence for the bloc. It highlights a shared vision of financial reform and collaboration in the quest for a more balanced global economic structure.

As BRICS pioneers this new path, it nurtures a future where financial systems reflect a diverse and multipolar world.

 

[Eisenhut]

Singapore is US lackey. If they join BRICS, I chop

Some people kkj like deadpool, can chop many times and re-generate

 

[Ah Max]

brics haz a strong 3rd world low ses vibe. hope sg won’t join

 

[k1976]

If u are like Cik Syed and Bro LaoTze who believe in Pakistani Economics miracle and Iran Golden Era and Agentinia Pax Maximus, BRIC is the way to go

 

[king_of_abalone]

All SE Asia countries starting to join the Dark Side.

So Singapore how? Become Singapoor soon?

Will Sinkie women soon have to go overseas and become maids and Cheekons?

Singapoor can join fellow US cocksucker Philippines and compete to see whose women make the better maids and prostitutes.

 

[k1976]

Singapoor can join fellow US cocksucker Philippines and compete to see whose women make the better maids and prostitutes.

Dun say like that your parents also earn from Uncle Sam grace, unless u are a ah tiong

 

[searcher1]

The World need to get used to upcoming China & its soft power.
USA needs to share this Planet with stronger BRICS in future
It is inevitable this world will have 2 completely different system in future

 

[Eisenhut]

If u are like Cik Syed and Bro LaoTze who believe in Pakistani Economics miracle and Iran Golden Era and Agentinia Pax Maximus, BRIC is the way to go

China is a game changer in BRICs. I mean seriously who the fk wants to trade with Russia. Russia is just there to spite USA