This compilation of financial-related insights includes videos from Tech Revolution, Joe Blogs, Sean Foo, and Gregory Mannarino.
Tech Revolution shares news of BRICS report on new members, a new AI center, and a common currency.
Joe Blogs reports on China’s artificial intelligence disaster with AI microchip sanctions damaging the Chinese economy.
Sean Foo discusses the protests of farmers in Europe as Germany begs the US for funds.
Gregory Mannarino says to expect massive distortions to worsen faster.
=======================================
Tech Revolution
Feb 10, 2024
In the intricate landscape of global geopolitics, the seeds of BRICS were sown back in 2001, yet it wasn’t until 2009 that this powerhouse coalition officially solidified its presence with the inclusion of Brazil, Russia, India, and China. South Africa added its weighty influence to the mix in 2010. Even before the recent expansion, these formidable nations collectively wielded significant economic clout, accounting for approximately 26% of the world’s wealth and boasting a population share of nearly 41% by 2023.
Fast forward to a pivotal moment in South Africa, where the BRICS summit of 2023 set the stage for a monumental shift. Amidst deliberations, a bold decision emerged: to extend invitations to five new nations to join the BRICS fraternity. Among the chosen were Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. Argentina, too, received a coveted invitation, though regrettably declined under the helm of its new leadership.
Advertisement
______________________________________________________
At the heart of the discourse during the initial rendezvous in South Africa was Iran’s fervent advocacy for advancing discussions on banking and payments, with particular emphasis on the realm of digital currency. Notably, BRICS found itself in the unique position of hosting both Russia and Iran, nations grappling with Western sanctions, thus amplifying the discourse around alternative payment systems.
The notion of a common digital currency among BRICS nations had been circulating within diplomatic circles for some time. While the idea had been somewhat downplayed during the previous summit in August, with a preference for leveraging local currencies in trade transactions over the ubiquitous US dollar, Iran’s advocacy hinted at a potential resurrection of the common currency dialogue. However, Russia, assuming the role of BRICS chair, had expressed reservations regarding the feasibility of such a unified currency system prior to the expansion.
With an influx of interest from 20 to 30 prospective member states and existing BRICS constituents eager to broaden the coalition’s reach, the prospect of transformative change looms large on the horizon.
Delving deeper into the realm of trade dynamics, Mehdi Safari, the Iranian Deputy Foreign Minister entrusted with economic affairs and the nation’s BRICS Sherpa, articulated a vision for a paradigm shift towards the utilization of national currencies within BRICS. Anticipating positive strides in key economic and financial domains, Safari underscored Iran’s proactive stance in engaging with BRICS initiatives throughout the year.
Meanwhile, Egypt, newly inducted into the BRICS fold, expressed a fervent desire to fortify ties with existing members, recognizing the potential for mutually beneficial collaboration. Hala al-Said, the Planning Minister, unveiled plans to bolster trade volumes, a sentiment echoed in discussions with Dilma Rousseff, President of the New Development Bank, aimed at augmenting cooperation between BRICS and the NDB.
Against this backdrop of burgeoning economic interdependence, Egypt’s accession to BRICS heralds a strategic maneuver to alleviate its chronic foreign currency shortages, charting a course towards reduced reliance on US dollar transactions and an influx of fresh investments, albeit with a recognition that tangible benefits may materialize gradually over time.
Beyond economic imperatives, BRICS aspires to wield influence on the global political stage, challenging the prevailing Western-dominated order epitomized by institutions like the World Bank and the IMF. This ethos culminated in the establishment of the New Development Bank in 2015, emblematic of BRICS’ resolve to chart an independent course.
Advertisement
______________________________________________________
Looking ahead to 2024 and beyond, the inclusion of new members is poised to inject an additional $2.6 trillion into the collective BRICS economy, bolstering its standing on the world stage. Yet, the G7 nations retain a formidable edge, commanding 43.2% of the global economy.
Sergei Ryabkov, the Russian Deputy Foreign Minister, struck an optimistic tone regarding the potential dividends for new BRICS entrants, hailing their membership as a pivotal juncture in advancing a more equitable global order. Against the backdrop of Russia’s BRICS presidency, a plethora of engagements spanning over 200 events across various Russian cities underscores a concerted effort to integrate new members seamlessly into the BRICS framework.
=======================================
Joe Blogs
Feb 11, 2024
CHINA is not able to produce cutting edge Artificial Intelligent Microchips and relies upon imports from the USA and Europe. As a result of growing tensions between the USA and China J-------n has increased SANCTIONS against China and BANNED the export of the latest AI Chips from both the USA and Europe. These Sanctions have resulted in a Shortage of Chips in China and Chinese business is now struggling to provide the latest technology in its products. In this video I provide full details of the problems that China is facing, discuss what the future impact will be on the Chinese Economy.
=======================================
Sean Foo
Feb 11, 2024
The farmer’s protests in Europe is getting worse. U-------n grain is flooding the continent while tight regulations and the Green Deal are causing a supply crisis for the livelihoods of EU farmers. Meanwhile, Germany is pushing the US for $60 billion to give U-----e. It’s the sunk cost fallacy that needs to be justified and here’s what you must know!
=======================================
Advertisement
______________________________________________________
Gregory Mannarino
Feb 11, 2024
MARKETS A LOOK AHEAD: IMPORTANT UPDATES! Expect MASSIVE DISTORTIONS TO WORSEN FASTER.
______________________________________________________
If you wish to contact the author of a post, you can send us an email at voyagesoflight@gmail.com and we’ll forward your request to the author (if available). If you have any questions about a post or the website, you may also forward your questions and concerns to the same email address.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © Dinar Chronicles
