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Sanctions push BRICS states towards closer ties – Moscow

Ukraine-related Western sanctions are pushing BRICS countries into closer economic cooperation at an accelerated pace, Russian Finance Minister Anton Siluanov said on Saturday during the first meeting of finance ministers and central bank governors of the BRICS countries, chaired by China.

According to the finance minister, the “current crisis is man-made,” and the BRICS member states – Russia, Brazil, India, China, and South Africa – “have all the necessary tools to mitigate its consequences for their respective economies and the global economy on a broader scale.”

Siluanov says the current US dollar-based international financial system should be reformed to ensure “independence and continuity of economic processes.”

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"Whether we like it or not, the reality is, the Federal Reserve has an enormous influence over the dollar and the stock market.

And right now, the Fed has an urgent and fateful decision to make.

It can keep printing trillions of dollars, let inflation skyrocket or tighten monetary policy, and watch the stock market crash.

In other words, it can sacrifice the stock market or the dollar.

David, what do you think the Fed will do, and what are the implications? 💥

https://www.zerohedge.com/...

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BREAKING: Russia Urges BRICS Nations To Create Own 'SWIFT' System, Warns 'Sanctions Are Destroying International Order' 🍿

https://www.zerohedge.com/...

Amid Sanctions Against Russia, BRICS Can Lead the Change Towards National Currency Payments

https://m.thewire.in/artic...