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Turkey May Be Joining BRICS
Posted: Tue Sep 03, 2024 12:13 pm
by Gary Childress
Re: Turkey May Be Joining BRICS
Posted: Wed Sep 04, 2024 6:25 am
by attofishpi
Well it's about time they learned how to build houses.
Re: Turkey May Be Joining BRICS
Posted: Sat Oct 26, 2024 5:37 am
by godelian
De-dollarization and getting rid of SWIFT is good for Turkey, and because of the network effects, also good for the other members of BRICS.
But then again, getting rid of SWIFT and its dollar correspondent banks, is the easy part. In fact, it would also be easy to get rid of the dollar, but not if they try to replace it by the Yuan or the Ruble. BRICS could tokenize a stablecoin on a blockchain backed by some gold or Bitcoin reserves and use that for the purpose of international trade settlement.
BRICS countries hesitate to abandon the very notion of fiat bankstering, but that is exactly what keeps pushing them back into the dollar cesspool.