The BRICS group of countries are openly preparing for a potential global collapse of the dollar and talking about putting an alternative currency in place that could serve as a substitute. This is according to proclamations by Russia’s executive director for the International Monetary Fund, Alexey Mozhin. He said that the downfalls of the current […]

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The oil-rich kingdom of Saudi Arabia has formally joined the BRICS group alongside four other countries. South African International Relations Minister Naledi Pandor confirmed the full membership of Saudi Arabia, Iran, Egypt, Ethiopia and the United Arab Emirates (UAE) during a Jan. 31 press briefing in the capital Pretoria. The five nations accepted the invitation […]

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The economic situation in both the United States and the European Union (EU) has degraded so much in recent weeks that even the powers that be are admitting that the situation looks much uglier than the “experts” previously warned. According to data from SWIFT, the global messaging service for cash transactions, use of the euro […]

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Chinese President Xi Jinping missed a scheduled speech at a key multilateral business forum during the 15th BRICS Summit in South Africa on Tuesday, Aug. 22. Xi arrived Monday night, Aug. 21, in Johannesburg for the summit on what is only his second international trip this year. He was met on the airport tarmac by South African […]

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Following Argentina’s recent debt repayment in the Chinese yuan, the International Monetary Fund (IMF) has hinted that it may soon accept the yuan from all countries that need to settle their debt obligations. IMF spokesperson Julie Kozack confirmed that Argentina paid off $1.1 billion of its $2.7 billion debt using the yuan, and that it […]

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