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Im not that Dre's avatar

What is not pointed out (or very widely known) is that the BRICS (Brasil/Russia/India/China/South Africa) economies are ready to move away from SWIFT and onto the Chinese-created CIPS platform. This was agreed at the 2015 BRICS summit, and further moves made and agreed in September 2021 at BRISCS13.

These economies also 1) suffer from "dollar deficit" in trade with US and EU, and 2) have almost all global reserves of un-mined gold with which to back non-dollar central banks. This terrifies those who rely of the current inequities of the dollar system, and when the moves are made these will be the "1st world" economies, not the ones currently top of the pile.

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Chip's avatar

This piece gives, what I believe, to be the most accurate breakdown of why Russia is acting -- https://www.tabletmag.com/sections/news/articles/ukraines-deadly-gamble

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