by Susan Duclos, All News Pipeline:

For the sake of clarity let us start with terminology that most ANP readers, if not all, already know.

BRICS is an acronym for five leading emerging economies: Brazil, Russia, India, China, and South Africa.

The BRICS payment system is described in the following manner:

A payment system that would be an alternative to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system. Russian Deputy Foreign Minister Sergey Ryabkov stated in an interview, “The finance ministers and executives of the BRICS central banks are negotiating … setting up payment systems and moving on to settlements in national currencies. SWIFT or not, in any case we’re talking about … a global multilateral payment system that would provide greater independence, would create a definite guarantee for BRICS.”

Next up, World Reserve Currency, the works of which are adequately shown in the visual below: