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Konten disediakan oleh Geopolitical Economy Report and Ben Norton. Semua konten podcast termasuk episode, grafik, dan deskripsi podcast diunggah dan disediakan langsung oleh Geopolitical Economy Report and Ben Norton atau mitra platform podcast mereka. Jika Anda yakin seseorang menggunakan karya berhak cipta Anda tanpa izin, Anda dapat mengikuti proses yang diuraikan di sini https://id.player.fm/legal.
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Goodbye, dollar dominance: BRICS plans 'multi-currency system' to transform global financial order
MP3•Beranda episode
Manage episode 445598040 series 3346987
Konten disediakan oleh Geopolitical Economy Report and Ben Norton. Semua konten podcast termasuk episode, grafik, dan deskripsi podcast diunggah dan disediakan langsung oleh Geopolitical Economy Report and Ben Norton atau mitra platform podcast mereka. Jika Anda yakin seseorang menggunakan karya berhak cipta Anda tanpa izin, Anda dapat mengikuti proses yang diuraikan di sini https://id.player.fm/legal.
BRICS plans to challenge US dollar dominance and transform the international monetary and financial system by developing infrastructure for cross-border payments using local currencies. Russia made a detailed proposal for the October Kazan summit. Ben Norton analyzes the report, explaining how the US-dominated financial system benefits rich Western countries at the expense of the Global South -- which is why BRICS is pushing to change it. VIDEO: https://www.youtube.com/watch?v=3pHr5yzLEHA Topics 0:00 US dollar hegemony 3:57 BRICS plan to transform international monetary & financial system 10:39 What are BRICS' goals? 13:22 New International Economic Order (NIEO) & G77 15:32 Dedollarization 20:02 Summary of BRICS report on financial system 31:59 West controls IMF & World Bank 36:34 Global economy has changed, but financial system hasn't 42:07 How rich countries drain capital from poor ones 45:16 Challenging the US dollar monopoly 47:29 Correspondent banks & SWIFT system 51:10 Central bank reserves & US Treasury securities 55:50 Triffin's Dilemma 57:54 Sanctions & US freezing countries' assets 1:00:18 Proposals for new cross-border payment architecture 1:03:15 Blockchain, DLT, & CBDCs (mBridge & Project Dunbar) 1:10:01 BRICS Cross-Border Payment Initiative (BCBPI) & BRICS Clear Platform 1:15:54 Dedollarizing foreign exchange reserves 1:18:22 New Development Bank (NDB) & BRICS Digital Investment Asset 1:20:10 Overview of Russian proposal 1:21:58 Will there be a BRICS currency? SDR (Special Drawing Rights) is a start 1:30:59 Conclusion
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377 episode
MP3•Beranda episode
Manage episode 445598040 series 3346987
Konten disediakan oleh Geopolitical Economy Report and Ben Norton. Semua konten podcast termasuk episode, grafik, dan deskripsi podcast diunggah dan disediakan langsung oleh Geopolitical Economy Report and Ben Norton atau mitra platform podcast mereka. Jika Anda yakin seseorang menggunakan karya berhak cipta Anda tanpa izin, Anda dapat mengikuti proses yang diuraikan di sini https://id.player.fm/legal.
BRICS plans to challenge US dollar dominance and transform the international monetary and financial system by developing infrastructure for cross-border payments using local currencies. Russia made a detailed proposal for the October Kazan summit. Ben Norton analyzes the report, explaining how the US-dominated financial system benefits rich Western countries at the expense of the Global South -- which is why BRICS is pushing to change it. VIDEO: https://www.youtube.com/watch?v=3pHr5yzLEHA Topics 0:00 US dollar hegemony 3:57 BRICS plan to transform international monetary & financial system 10:39 What are BRICS' goals? 13:22 New International Economic Order (NIEO) & G77 15:32 Dedollarization 20:02 Summary of BRICS report on financial system 31:59 West controls IMF & World Bank 36:34 Global economy has changed, but financial system hasn't 42:07 How rich countries drain capital from poor ones 45:16 Challenging the US dollar monopoly 47:29 Correspondent banks & SWIFT system 51:10 Central bank reserves & US Treasury securities 55:50 Triffin's Dilemma 57:54 Sanctions & US freezing countries' assets 1:00:18 Proposals for new cross-border payment architecture 1:03:15 Blockchain, DLT, & CBDCs (mBridge & Project Dunbar) 1:10:01 BRICS Cross-Border Payment Initiative (BCBPI) & BRICS Clear Platform 1:15:54 Dedollarizing foreign exchange reserves 1:18:22 New Development Bank (NDB) & BRICS Digital Investment Asset 1:20:10 Overview of Russian proposal 1:21:58 Will there be a BRICS currency? SDR (Special Drawing Rights) is a start 1:30:59 Conclusion
…
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