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Will BRICS launch a new world in 2024? — Pepe Escobar

Summary:
BRICS doubled its membership at the start of 2024, and faces huge tasks ahead: integrating its newest members, developing future admission criteria, deepening the institution's groundings, and most importantly, launching the mechanisms for bypassing the US dollar in international finance.The financial plans are toward the end of the post. No details yet, but a plan is supposed to be presented at the BRICs meaning in the fall of this year. An alternative BRICs currency is not being planned at this stage when BRICs is just getting off the ground and has yet to be adequately institutionalized yet itself. It still just "a club" at this point. Lots of work to be done, especially with many more countries already lining up for membership.The CradleWill BRICS launch a new world in 2024?Pepe

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BRICS doubled its membership at the start of 2024, and faces huge tasks ahead: integrating its newest members, developing future admission criteria, deepening the institution's groundings, and most importantly, launching the mechanisms for bypassing the US dollar in international finance.

The financial plans are toward the end of the post. No details yet, but a plan is supposed to be presented at the BRICs meaning in the fall of this year. An alternative BRICs currency is not being planned at this stage when BRICs is just getting off the ground and has yet to be adequately institutionalized yet itself. It still just "a club" at this point. Lots of work to be done, especially with many more countries already lining up for membership.

The Cradle
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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