โ€œIn the tech-powered and unregulated #financialcapitalism that #Polymarket represents, #war and destruction is just another tradable #commodity.โ€

RE: https://bsky.app/profile/did:plc:5zca2ola2zxpkw37w4f3wxtu/post/3mgqtrzfqnk2h

UNIT: THE BRICS CURRENCY THAT FINALLY CHALLENGES THE DOLLAR By Said Bouamama

The BRICS coalition has launched the UNIT this last january 2026 ( with the total silence of the mainstream media) , a novel payment system and digital reference unit that is underpinned by gold and a selection of sovereign currencies. This initiative is envisioned as a fundamental component of a financial corridor that serves as an alternative to the dollar and the Western-dominated financial framework.

UNIT functions as both a digital payment tool and a unit of account, boasting a backing of tangible assets: 40% in physical gold and 60% comprised of currencies from BRICS+ nations. In contrast to volatile cryptocurrencies or private stablecoins, it is structured to be ยซ uncensorable and apolitical money, ยป tethered to intrinsic value and administered through state and multilateral frameworks.

Its design accommodates use across traditional banking systems and decentralized digital platforms, enabling it to facilitate wholesale trade, intergovernmental settlements, and transactions by economic entities in search of a payment method that withstands sanctions and blockades. Leveraging existing networks such as SPFS (Russia), CIPS (China), UPI (India), and Pix (Brazil), UNIT integrates into a system capable of functioning independently of SWIFT and the obligatory mediation of U.S. banks.

The strategic aim of UNIT is to offer countries in the Global South a reliable route for cross-border transactions, minimizing their reliance on the dollar and the financial networks dominated by Washington. This approach effectively reduces the financial coercion potential of the United States, encourages trade in local currencies, and establishes a foundation for genuine pluralism within the international monetary and payments landscape.

While it may not instantly supplant the existing system, UNIT is expected to develop alongside it, gaining economic influence and operational credibility as more nations embrace it. Variances in adoption speed among partners, including the more cautious stances of India and Brazil, do not detract from its pivotal function: solidifying an alternative financial corridor that safeguards economies aiming for increased strategic autonomy from sanctions and external pressures.

@albagranadanorthafrica

https://youtu.be/JNO4hYo4tiI?si=dCaXI4EqKnhzQqGp

#BRICS #dollar #financialCapitalism #russiaChina #unit
Hi there!
New to this place. I'm a Danish Ph.D. fellow, interested in #IntellectualHistory, #EconomicSociology, #Philosophy, #ClimateCrisis, #FinancialCapitalism, etc. Mainly here for sharing research/perspectives.
Suggestions for this place are welcome!
The first I am hearing of Patriotic Millionaires. I like: https://www.theguardian.com/commentisfree/2018/apr/17/millionaire-zero-jobs-taxes The reality is that financial capitalism mostly makes money from having money and shuffling around numbers with risky gambles rather than doing things productive. This is very different from capitalism even 50 years ago and far more destructive. #taxes #inequality #financialcapitalism #capitalism
I'm a millionaire who creates zero jobs. Why do I pay less tax than you? | Morris Pearl

Our tax code is deliberately designed to reward money over work, and the corporate tax cut financially rewards companies for moving money and jobs overseas