Putin's bogus money: Brics dollar Adé-but nobody pulls with you!

Putin's bogus money: Brics dollar Adé-but nobody pulls with you!

What a spectacle in Kazan: At the 16th BRICS summit, Russia's President Vladimir Putin not only showed his poker face, but also an imaginative currency design! This imaginary banknote was another act in the drama of the de-dollarization that has staged Russia in order to escape sanctions. But the big show remains without the main actor, because even within the Brics alliance, the project lacks the impetus.

The bombshell news? DE dollarization is cold by numerous BRICS members. India, South Africa and Brazil prefer to be on the safe side and withdraw quietly from the performance. For countries such as Russia, China and the Iran, which is economically grueled by the West, still remains a glimmer of hope to use Brics as a springboard against the dollar.

Under the pretext of global financial dominance, Russia and China loudly drum the Brics band together. The last news from the front: There is no trace of an actual introduction of your own Brics currency, because without the common consensus of all members, the project remains in its infancy. India, undeterred by the dollar freedom, sticks to the mighty US currency. Without the dollar, according to the concern, India's plan to soon become the third largest economic power could fall by the wayside. Especially because of close economic relations with the USA and its strong IT scene, the de-$ben would be a drop on the hot stone for India's economy.

a rocky path to the de-dollarization

Even China and Russia seem to be circulating in the plan imposed on them. Although the de-dollarization progresses in slow steps, the process is increasingly chaotic. After all, the US dollar has not lost its seductive charm and offers more security in the rough world of currency movements. The dream of the dollar future appears as far as the moon, and without unanimous support, the desire remains a distant star.