BRICS Pay: A challenge to the West

So: Is that an alternative to SWIFT?

Yes it is

Is it fully world-wide? NO

Is it a way to bypass sanctions? Yes

Does it blunt US ability to impose sanctions? Yes

Is it visible to the US? NO

Does it add to independence of countries? Yes.

It makes trade between 40% of world GDP escape US control. In that sense, it is de-dollarization.

We have nothing against the dollar; we just prefer to trade in our own gold-backed currencies. Well that is exactly what de-dollarization is.

The skinny

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