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“Russia proposes a new international standard for trading in precious metals: the Moscow World Standard (MWS) which will become an alternative to the London Bullion Market Association (LBMA) which systematically manipulates precious metals markets to depress prices.
The foundation of a new currency system is being built together with trade being conducted outside of Western financial institutions and centers.
The backing for a token / digital currency?
Anyway, had to take a look to make sure I wasn't misunderstanding what "Global South" meant, as I didn't think it included Russia:
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