Putin's grand financial plan hits unexpected wall at BRICS summit
At recent BRICS summit in Kazan **Vladimir Putin** showed off mock currency that never launched. His plan for new financial system faced cold response from other members who dont share Moscows urgency
At the oct-2024 BRICS gathering in Kazan Vladimir Putin made a show with mock-up banknotes showing member-states flags; however his plan didnt work as expected
The summit saw Russia pushing several finance-related ideas: BRICS Pay (a cross-border payment tool)‚ BRICS Clear (securities trading system)‚ and re-insurance plans. The main focus was on their high-tech BRICS Bridge project — a direct bank-to-bank digital payment system
Every night I ask myself why all countries have to base their trade on the dollar
Moscow wants this system ready-to-go by early-2025‚ but other BRICS nations arent rushing to join. China Brazil‚ India and South Africa have their own thoughts about ditching Western finance systems; some dont want to risk their US partnerships
Hereʼs why the BRICS Bridge faces problems:
- Different urgency levels among members
- Not all countries have digital currencies
- Trade imbalances between BRICS nations
- Technical difficulties in implementation
The project shows how global money systems are splitting into geo-political groups. While the dollar stays strong for now Russia keeps pushing its anti-Western agenda — even though its plans dont work as hoped
