[srmanuel]

The 3-4 weeks is the timeframe when the BRICS are supposed to introduce a new currency to compete with the US Dollar, the currency is supposed to be backed by Gold.

The currency will be used as a reserve currency so countries could trade commodities instead of using the US Dollar.

If successful the new currency would become a major problem for the USA.

[MarMema]

Dedollarization is already in full swing.

Argentina has been paying the IMF in yuan.

The strains of steep U.S. interest rate rises and sanctions that have frozen Russia out of the global banking system have seen a fresh push by the “BRICS” nations, Brazil, Russia, India, China and South Africa, to challenge the dollar’s hegemony.

https://www.reuters.com/markets/signs-de-dollarisation-emerge-dollar-top-currency-jpmorgan-2023-06-05/

[SaveFerris]

That sounds like what I heard

Thanks!

[mac_truck]

The 3-4 weeks is the timeframe when the BRICS are supposed to introduce a new currency to compete with the US Dollar, the currency is supposed to be backed by Gold.

Not sure its going to be backed by gold as much as it will be pegged to the price of gold.

Also don't think it will be out in 2023.

Definitely a step in the right direction though for the Global South.