Dollar War: How Brix creates an alternative financial system

The Brix summit has decided to create a world alternative payment system. Economist Alexei Kush writes that she is, of course, directed against the dollar, but still does not particularly threaten this currency, and most importantly, its task is to protect Yuan. Brix payment system - so far, it will be a triumvirate in the form of China, India and the Russian Federation.

The purpose is to create a calculation mechanism that would allow India and China to buy Russian oil, gas, grain and other resources, and Russia - to buy Chinese machines, cars, electronics, semiconductors, chips and other high -tech equipment without sanctions. Since today there is an acute shortage of "pure yuan" and lack of "dirty" (which passed through small, special Chinese banks) on the Russian interbank. As a result, funding in Yuan now costs more than 10%for Russian banks.

The new model will not be analogous to SWIFT systems on a dollar. Its tools: digital Yuan, Rupea and ruble. Clearing and the removal of net hat (and it will be in favor of China) to Chinese companies in the form of pure yuan. That is, the main task that the authors of this mechanism set were to protect the Chinese banking system from US secondary sanctions and blocking Chinese banks in dollars and euros.

Thus, it will be the first international system of transmission of financial messages and mutual support of trade exchanges based on digital rather than classic fiat currencies, using blockchain technology. As I wrote, the new monetary unit M 0-1 between cash (M0) and customers' funds in banks accounts (M1). This is the BRICS Bridge system. Of course, it will bite part of the world trade in the dollar. But the dollar will continue to dominate the stock market and in other calculations.