Mereja.Forum

Saudi Arabia keen to join BRICS



If Saudi Arabia joins the alliance, gold and oil will be the cornerstone of this new currency, giving BRICS all the economic and political capital sustain on its own. Moreover, China has mastered the prototype of an alternate international payment Network known as the M Bridge prototype. This is an alternate to SWIFT (Society for Worldwide Interbank Financial Telecommunications) for international transactions.

The intention is to give it more stability than the US dollar. There are speculations of the currency being backed by gold, making it the most valuable money on the planet.

The West i.e. USA and other developed European nations have always had monopoly in global relations. Developing nations are heavily reliant on them for several International aspects like trade and economics. BRICS was formed to have a political autonomy, to do away with Western dominance. These group of countries wish to have complete sovereignty, form fully independent policies.

https://juriscentre.com/2023/01/16/saud ... -impacted/

Tigray's new currency is backed by ቁልቋል

almaze wrote: ↑

14 Apr 2023, 23:03

What about the Nakfa currency? It outperforms the majority of BRICS currencies when compared to the US dollar. Eritrea should join the BRICS to challenge the dollar's domination.

1 US Dollar = 15 Nakfa

20 Birr for a 14 year old Agame puzzzy. That is like 0.3 Nakfa.