Freedom Thru Firepower
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BRICS Development Bank
- Thread starter arya
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NOTABLE DEVELOPMENTS IN THE MIDDLE EASTERN BRICS+ DIVISION
1) BRICS: UAE Pays China With New Digital Dirham, Ditches US Dollar
2) Subsequently, Iran has attended the 2024 BRICS coordination meet in official capacity a few days ago. It has unequivocally endorsed the creation of the BRICS currency.
1) BRICS: UAE Pays China With New Digital Dirham, Ditches US Dollar
Behind the scenes, substantial efforts are underway within the BRICS+ framework.
The United Arab Emirates (UAE) executed a pioneering trade transaction with China, amounting to AED 500 million, utilizing Digital Dirham, akin to our e₹. Notably, this transaction was conducted independently by the UAE, without the involvement of any intermediary American financial institution in the financial process.
This development represents an unprecedented milestone in the Middle East, with Russia, India, and China taking the lead. Should digital currencies continue to gain prominence, they are poised to exert further pressure on the value of the Dollar by the conclusion of 2024. This trend warrants careful monitoring by finance professionals, particularly in observing Dollar fluctuations and scrutinizing any deliberate interventions by the Federal Reserve.
The mainstream integration of digital currencies such as the Digital Yuan, Rupee, Ruble, and Dirham is already underway. India is actively disseminating the foundational technology of the Unified Payments Interface (UPI) to facilitate the digitization of currencies in interested nations.
While not a finance expert, there are indications that the valuation of the R5 currency project has been clandestinely finalized. These native currency transactions serve as preliminary moves, potentially catching Federal Reserve authorities off guard.
2) Subsequently, Iran has attended the 2024 BRICS coordination meet in official capacity a few days ago. It has unequivocally endorsed the creation of the BRICS currency.
Currently, Iran stands as the most politically and militarily vulnerable nation within the BRICS consortium, embroiled in a proxy conflict involving the US-aligned countries and Israel. There have been accounts of an Iranian assault in Jordan resulting in the fatalities of three US military personnel, sparking the customary war rhetoric in Western circles.
Despite Iran's official denial of involvement, there is a possibility that the US may seek to target Tehran, potentially undermining the cohesion of the BRICS initiative, irrespective of Iran's innocence in the matter.
