Joe Tzu's aphorisms
Miscellaneous News
- Thread starter bd popeye
- Start date
North Korean state media issued a scathing condemnation of US President Joe Biden on Saturday, decrying his “senility” and diagnosing a “problem in his intellectual faculty.”
Wow!
"Just IN: "US told us that if Imran is removed, Pakistan will be 'forgiven'. I ask who the hell is America to forgive us?" - Pak Minister Shereen Mazari"
"Just IN: "US told us that if Imran is removed, Pakistan will be 'forgiven'. I ask who the hell is America to forgive us?" - Pak Minister Shereen Mazari"
solarz
Brigadier
Facts don't matter to Western media.
He is literally mentally deficient. The USA is going down the USSR's path of gerontocracy.
Troy ounce - Whenever precious metals like gold and silver are mentioned with the word ounce, the ounce always refers to troy ounces which is slightly over 31grams
This should have happened years ago. I have long been irritated at what seems like talking shops of BRICS and Shanghai Cooperation Organization but zero to no action on real meat.
Sanctions have cut Russia off from the global financial system and from nearly half of its gold and foreign exchange reserves, which stood at $606.5 billion in early April.
On Friday, Finance Minister Anton Siluanov told a ministerial meeting with BRICS, which consists of Brazil, Russia, India, China and South Africa, that the global economic situation had worsened substantially due to the sanctions, the ministry's statement said.
The new sanctions also destroy the foundation of the existing international monetary and financial system based on the U.S. dollar, Siluanov said.
"This pushes us to the need to speed up work in the following areas: the use of national currencies for export-import operations, the integration of payment systems and cards, our own financial messaging system and the creation of an independent BRICS rating agency," Siluanov said.
International payment cards Visa and MasterCard suspended operations in Russia in early March and Russia's biggest banks have lost access to the SWIFT global banking messaging system.
Russia set up its own banking messaging system, known as SPFS, as an alternative to SWIFT. Its own card payment system MIR began operating in 2015.
They were part of Moscow's efforts to develop homegrown financial tools to mirror Western ones, to protect the country in case penalties against Moscow were broadened.
The finance ministry said BRICS ministers have confirmed the importance of cooperation in efforts to stabilise the current economic situation. "The current crisis is man-made, and the BRICS countries have all necessary tools to mitigate its consequences for their economies and the global economy as a whole," Siluanov said.
Non-paywall source:
Russia calls for integrating BRICS payment systems
April 9 (Reuters) - Russia, hit by Western sanctions, has called on the BRICS group of emerging economies to extend the use of national currencies and integrate payment systems, the finance ministry said on Saturday.Sanctions have cut Russia off from the global financial system and from nearly half of its gold and foreign exchange reserves, which stood at $606.5 billion in early April.
On Friday, Finance Minister Anton Siluanov told a ministerial meeting with BRICS, which consists of Brazil, Russia, India, China and South Africa, that the global economic situation had worsened substantially due to the sanctions, the ministry's statement said.
The new sanctions also destroy the foundation of the existing international monetary and financial system based on the U.S. dollar, Siluanov said.
"This pushes us to the need to speed up work in the following areas: the use of national currencies for export-import operations, the integration of payment systems and cards, our own financial messaging system and the creation of an independent BRICS rating agency," Siluanov said.
International payment cards Visa and MasterCard suspended operations in Russia in early March and Russia's biggest banks have lost access to the SWIFT global banking messaging system.
Russia set up its own banking messaging system, known as SPFS, as an alternative to SWIFT. Its own card payment system MIR began operating in 2015.
They were part of Moscow's efforts to develop homegrown financial tools to mirror Western ones, to protect the country in case penalties against Moscow were broadened.
The finance ministry said BRICS ministers have confirmed the importance of cooperation in efforts to stabilise the current economic situation. "The current crisis is man-made, and the BRICS countries have all necessary tools to mitigate its consequences for their economies and the global economy as a whole," Siluanov said.
Non-paywall source:
It could be that before, there was a higher cost of announcing or establishing an alternative system, because it may run the risk of gaining hostility from US, and before Russia was still trying to appease EU and US. In addition, there might not be much incentive to move to the system before, but now that Russia needs it, they are now backing it all the way.
You can see also see lately as well, that US and their allies have been very active lately, pushing new bills, military cooperation and reinvigorating previous agreements, same goes with Russia and a little bit by China.
But there's a question in my mind, could all those agreements and organizations before are just a way to put pressure and gain leverage by threatening the opposing party in negotiations, and was intended to only be pushed all the way when negotiations fall apart?