The Rise of the Global South and the Foundation of a New Currency System

• The Rise of the Global South and the Foundation of a New Currency System
  by Chris MacIntosh, https://internationalman.com/
  “The issue of creating an international reserve currency based on a basket of currencies of our countries is being worked out,” Vladimir Putin said at the BRICS business forum.
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  So there you have it.
  You may recall that Russia has been cut off from the SWIFT system. Now if you’re a consumer of Western legacy media, you’d likely not have heard a word on it, but the fact is that Russia was largely prepared for this and has already developed and is now using the SPFS the Russian equivalent of SWIFT, developed by the Central Bank of Russia since 2014.
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  If you weren’t paying attention at the time, we were, and I can tell you that after the The West threatened to disconnect Russia from the SWIFT system was when they urgently began building SPFS. This is an alternative for international payments which, in their own words, will… “cut reliance on the Western financial system.”
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  In the meantime, Russia is taking steps to strengthen the alliance between BRIC nations, including re-routing trade to China and India.
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