The Global Economic Forum endorses the new BRICSTether launching as an alternative to the US Central Banking Corrupted System, said a recent Press Release by the Organisation set up to be an alternative to the corrupted cult led WEF forum run by Klaus Schwab and other elites.
It went on to say that the days of USD dollar dominance are drawing to a close, due to the abuse of their system of printing endless money and exporting inflation and funding a large military to be a Global bully, starting endless wars, including the Ukraine / Russian conflict and trying to provoke China over Taiwan .
Fintech and crypto is key to creating better systems to provide alternative ways of transacting globally outside the imploding US financial system.
The BRICS nations have been wanting for years to create their own currency, and some have said the new BRICSTether if it garners sufficient support, could become one of several ways to by pass the US SWIFT system.’
BRICS is an acronym used to describe the five major emerging economies in the world: Brazil, Russia, India, China, and South Africa. These countries are considered to be among the largest and fastest-growing economies in the world and have a significant impact on the global economy.
The idea of BRICS as a group was first introduced in 2001 by Goldman Sachs economist Jim O’Neill. Since then, BRICS has become a widely recognized term, and the five countries have established a formal organization known as the BRICS Summit to promote cooperation and coordination among the member states.
One of the key strengths of BRICS is the large and growing size of their economies. Combined, the five countries account for over 40% of the world’s population and around 24% of the global GDP. Additionally, these countries are projected to continue to grow at a fast pace in the coming years, which will further increase their economic influence.
Another important aspect of BRICS is the diversity of their economies. While all five countries are considered emerging economies, they have different economic structures and growth drivers. For example, China and India are characterized by large and rapidly growing consumer markets, while Russia and Brazil are rich in natural resources. South Africa is a combination of both, with a large consumer market and rich mineral resources. This diversity among the BRICS countries provides opportunities for cooperation and mutual benefit.