Integration of new members into BRICS will facilitate the advent of a new world order, marked by the end of the petrodollar’s “yoke”, Michael Goddard told Sputnik.
The acquisition of First Republic Bank merely provided a "backstop" but not a solution to the US banking crisis that was facilitated by the Federal Reserve s continuing interest rate hikes, Sergio Rossi, professor of macroeconomics and monetary economics at the University of Fribourg, Switzerland, told Sputnik.