Russian President Vladimir Putin announced that BRICS nations are going to roll out a new alternative to the US dollar’s global reserve currency status. As reported by IndiaTimes.com:
According to the Russian president, the member states are also developing reliable alternative mechanisms for international payments. Earlier, the group said it was working on setting up a joint payment network to cut reliance on the Western financial system. The BRICS countries have been also boosting the use of local currencies in mutual trade.
But this is only the beginning of the bombshell here.