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• @immobile@poa.st 2026-04-05 17:18

  Well, didn't surprise at all. BRICS is just another smoke and mirrors. Like the "space race" or "nuclear weapon race" between west and east was, while sharing the intelligence between each other. "The People’s Bank of China has attended bimonthly Basel meetings since 1996. China’s reserves remain overwhelmingly dollar-denominated. Goldman Sachs, Morgan Stanley, and BlackRock have been instrumental in building Chinese capital markets. After more than a decade of BRICS rhetoric about de-dollarization, no concrete alternative system has emerged. The yuan’s share of global reserves remains marginal. The appearance of rivalry provides pressure relief — populations on both sides can believe alternatives exist, that the contest remains open — while the central banks of all major economies coordinate in the same tower, under the same immunity, following the same logic."

  Open ##972564