Subnostr

That Grayzone's Anya Parampil on currency and its importance with respect to sovereingty...

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"that Ahmed just described is precisely why the question of the the brics currency or currency in general is so

significant because a lot of people especially I think a lot of what I read

in anticipation in Western media but also International brics Media or bricks

aspirant media was concerned about whether or not bricks was going to announce an actual currency and Putin

himself as kind of the I think people would say the most he's in between the west and the East

and in some ways the most explicit in terms of the the break that bricks represents at this

moment at least with the West he was very concerned about whether or not bricks were going to

determine how they're going to resolve their trade what current whether it's going to be a joint currency basket

exchange where every nation and every brics member can preserve some sort of

currency sovereignty or whether there's going to be a fixed exchange rate with one dominant currency based in a resource or

something similar to what Britain Woods originally was based on the gold standard and it didn't come

out it didn't happen because at least Lula and some of the other powers this

was something Lula from Brazil made off the bat a point that he made explicitly in his original speech was that the or

in his first speech because they gave multiple addresses throughout the whole negotiation process was that the the

national sovereignty of every brick State their currency has to be protected

so I think certain brics countries do not want to enter an agreement where they feel as though there's a dominant

currency a central currency that could any way begin to undermine the sovereignty of brick states especially

because one of the main critiques you hear about brics from even current members particularly India and South

Africa and beyond that aspiring African countries is that they don't totally want to feel as though they are

dependent on just the Chinese and the Chinese because they can offer the most investment are the controversy the

Indians especially because of their own relationship with China don't want the Chinese to have

uh not that the Chinese are imperialist or are going to weaponize their currency in the same way but there is a sense

that preserving sovereignty of your currency is the best way to preserve your sovereignty period

and the minute you start mixing it with something else you walk down a slippery slope where

you're you're already in a dynamic where you're not an equal partner and so this

question of the currency is very key the Frank uh the the the French currency and

the former French colonies Ahmed described how they can weaponize that even still to this day most people don't

know that and then the dollar also is is a major weapon and to say that they want to move away from that is

not necessarily attack an attack it's just an assertion of sovereignty and so

this is a big question going forward well so on that topic I mean it seems like the elephant in the room right was"

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