Hidden Signs and Obvious Clues | Janet Yellen

The moment United States Secretary of the Treasury Janet Yellen uttered the phrase "the dollar is the world's reserve currency", the coat of arms of the US Treasury Department fell off her lectern and crashed to the ground.

October 22, 2024.

Welcome to the UNIT - The De-Dollarization Bombshell | Pepe Escobar

Welcome to the UNIT – a concept that has already been discussed by the financial services and investments working group set up by the BRICS+ Business Council and has a serious shot at becoming official BRICS+ policy as early as in 2025.

  » The UNIT is a new form of international currency that can be issued 

in a de-centralized way, and then recognized and regulated at national level.  «

[...] The Global Majority has had enough of the centrally controlled monetary framework put in place 80 years ago in Bretton Woods and its endemic flaws: chronic deficits fueling irresponsible military spending; speculative bubbles; politically motivated sanctions and secondary sanctions; abuse of settlement and payment infrastructure; protectionism; and the lack of fair arbitration. In contrast, the UNIT proposes a reliable, quick and economically efficient solution for cross-border payments. The - transactional - UNIT is a game-changer as a new form of international currency that can be issued in a de-centralized way, and then recognized and regulated at national level.

  » Decoupling money from politics will undoubtedly offer unique opportunities 

for fair trade and investments across the globe removing economic bypasses created by 

political power plays and irresponsible fiscal and monetary policies.  «

The strength of the UNIT, conceptually, is to remove direct dependency on the currency of other nations, and to offer especially to the Global Majority a new form of apolitical money - with huge potential for anchoring fair trade and investments. It is indeed a new concept in terms of an international currency - anchored in gold (40%) and BRICS+ currencies (60%). It is neither crypto nor stablecoin. [...] The endgame is that everyone, essentially, may use the UNIT for accounting, bookkeeping, pricing, settling, paying, saving and investing.

Quoted from:
Pepe Escobar (May 13, 2024) - De-Dollarization Bombshell: The Coming of BRICS+ Decentralized Monetary Ecosystem. 

 

See also:

The UNIT Foundation (May 9, 2023) - The UNIT White Paper.