Bank of International Settlement Kills M-Bridge
The Global South (BRICs et al) move to dedollarize to get out from under U.S. sanctions was looking to utilize the M-Bridge payment system as an alternative to the SWIFT payment system that is used to lock countries out of favour with the U.S. out of international trade.
M-Bridge was being developed in coordination with the Bank of International Settlement but they have now pulled the plug on the system giving the Global South ever more reason to distrust the west.
This is a recent event several days ago that has had very little attention but is a significant turn of events. Andy Schectman discusses this at the 59:45 minute mark in the following interview.
https://www.youtube.com/watch?v=ZZ91bCzkg4M
Until this transfer technology is taken independent of the West the collective South has this additional incentive to look to gold and commodities to back transactons.