Key insights

• 📰 Speculation about the end of the Petro dollar was fake news
• 💵 BRICS launched embridge as an alternative to Swift
• 💳 Embridge is a wholesale CBDC system based on Ethereum, meant for institutions
• 🌍 The video discusses the potential ties between Saudi Arabia, the BRICS alliance, and the BIS payment system
• 🌐 NDB potentially linked to Embridge through China, UAE, and Saudi Arabia
• 💱 The rise of a bridge currency, like the proposed BRICS currency, can address the limitations of using multiple foreign currencies for trade
• 🏦 BRICS alliance is working towards establishing their own financial system, including the New Development Bank (NDB)
• 🛒 Embridge facilitates countries trading commodities without relying on US-controlled infrastructure

Q&A

• Why is there a need for a bridge currency like the proposed BRICS currency?

  The rise of a global payment system using multiple currencies highlights the need for a bridge currency like the proposed BRICS currency. This currency would primarily serve central and commercial banks to avoid holding excessive amounts of foreign currencies and could challenge the dominance of the US dollar.

• How is the NDB potentially linked to the use of Embridge?

  The NDB is potentially linked to the use of Embridge, with China, UAE, and Saudi Arabia involved. Embridge facilitates countries trading commodities without relying on US-controlled infrastructure, providing freedom from US influence.

• What does the video discuss about the ties between Saudi Arabia, the BRICS alliance, and the BIS payment system?

  The video discusses the potential ties between Saudi Arabia, the BRICS alliance, and the BIS payment system, highlighting the complexities of their relationships and the geopolitical implications. The BRICS countries are working towards establishing their own financial system, including the New Development Bank (NDB), to gain more autonomy from Western influence.

• What is Embridge and how does it impact the financial system?

  Embridge is a wholesale CBDC system based on Ethereum, with a novel consensus mechanism called Dashing. It aims to bypass the US-centric financial system, including Swift and intermediary banks, significantly impacting the demand for the US dollar in Forex transactions.

• What is the BRICS payment system and what is it based on?

  The BRICS launched a payment system called Embridge as an alternative to Swift, sponsored by the Coin Bureau deals page. Embridge is based on Ethereum and has the potential to dethrone the US dollar. It is significant for global trade and geopolitical power dynamics.

• What was the speculation about the end of the Petro dollar?

  The speculation about the end of the Petro dollar due to a US-Saudi Arabia deal not being renewed was fake news. Instead, BRICS countries have launched a new payment system based on Ethereum, which poses a potential threat to the US Dollar's dominance.

• 00:00 The speculation about the end of the Petro dollar due to a US-Saudi Arabia deal not being renewed was fake news. Instead, BRICS countries have launched a new payment system based on Ethereum, which poses a potential threat to the US Dollar's dominance.
• 03:46 The BRICS launched a payment system called embridge as an alternative to Swift, which has the potential to dethrone the US dollar. The system is significant for global trade and geopolitical power dynamics. It's sponsored by the coin Bureau deals page. The podcast segment is unrelated to the main content.
• 07:33 Embridge is a wholesale CBDC system based on Ethereum, meant for institutions, with a novel consensus mechanism called Dashing. Its primary purpose is to bypass the existing US-centric financial system, including Swift and intermediary banks, significantly impacting the demand for the US dollar in Forex transactions.
• 11:30 The video discusses the potential ties between Saudi Arabia, the BRICS alliance, and the BIS payment system, highlighting the complexities of their relationships and the geopolitical implications. The BRICS countries are working towards establishing their own financial system, including the New Development Bank (NDB), to gain more autonomy from Western influence.
• 15:27 The NDB is potentially linked to the use of Embridge, with China, UAE, and Saudi Arabia involved. Embridge facilitates countries trading commodities without relying on US-controlled infrastructure, providing freedom from US influence.
• 19:10 The rise of a global payment system using multiple currencies highlights the need for a bridge currency like the proposed BRICS currency. This currency would primarily serve central and commercial banks to avoid holding excessive amounts of foreign currencies. Its creation could pave the way for smaller countries to join the system, eventually challenging the dominance of the US dollar. However, the US will fiercely defend its position using the strength of the dollar and its influence over global debts.