Doom
Posted on 07/22/2023 4:33:58 PM PDT by RomanSoldier19
The BRICS alliance, an association of the five major emerging economies of Brazil, Russia, India, China, and South Africa, is witnessing an increasing number of nations showing interest in joining its ranks.
The surge in interest corresponds with an increasing number of countries willing to adopt the BRICS currency for international trade, potentially diminishing the dominance of the U.S. dollar.
South African ambassador Anil Sooklal confirmed to Reuters that the BRICS alliance has received both formal and informal applications.
The decision to create a new currency will be a collective one, made by the five nations at the upcoming summit in August.
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(Excerpt) Read more at benzinga.com ...
Bazinga.
Doesn’t matter… Red state governors and legislators passed the uniform commercial code.
Someday, that situation will end. Not today, not tomorrow. But someday. Then there will be a reckoning. It is folly to think otherwise.
“BRICS Emerges As New Global Powerhouse, US Dollar Faces Uncertain Future”
Not sure what the Neocons were thinking when they disconnected Russia from SWIFT, but anyone with a brain knew this would happen. But then again, the Neocon hatred towards Russia is SO STRONG, that they simply don’t care what happens to their countries, as this and many other things show.
I agree. There will eventually be a reckoning, and I agree that it won’t come as fast as so many think.
I personally won’t worry until China decouples the Yuan from the Dollar. Until then, the Dollar will remain China’s reserve currency.
And I don’t think China had the guts to decouple the Yuan. Their house of cards would collapse faster than ours if they did.
The hubris of the self-appointed masters of the universe is trashing our country and most of us in it.
Other thoughts on BRICS
https://www.youtube.com/shorts/kBhRwwKf1y4
https://www.youtube.com/watch?v=VENtvPspJhw&t=40s
China and India hate each other. Russia is at war with much of the world. True, Russia has gold. But they’ll invest it in a currency anyone can use from the goodness of their hearts? No. Each natin would need to give up their currency at the going rate of refined gold, plus some. This is a retail transaction so how will the country benefit? Nobody wants Yuan, Rupees, or Rubles. Neither South Africa or Brazil has an economy big enough to have a trade surplus needed to fund a currency. Everyone involved in BRICS is trying to get something from the others. Nobody wins. The BRICS currency is fear porn.
In order to have a currency you need a financial policy. Where will the gold backing the currency be held? How much currency will be printed? Any sovereign country can print a currency and the value of it relies on that country’s reputation. So now we have five or more countries who will print currency? That sounds stable. Or, maybe just one country will print currency. China wants it to be them. Ditto Russia, India, Brazil...I’m seeing a few problems here.
BTW, this is what the Euro was supposed to be. Less than 20% of the world’s trade is done in Euros and almost all of it is within the EU.
One other positive note I read elsewhere is that supposedly the currency won’t be redeemable for gold specie. Backed, yes. But not redeemable. Which is, of course, where the dollar is today supposedly, as compared to a century ago before the closet commies interfered.
“The BRICS currency is fear porn.”
Lot’s of folks talk about BRIS but there is no one at the bank standing in line to covert their dollars to rands, reals and rubles.
Russia intervened in U.S. elections to get Obama, Hillary, and Biden elected, but you want to give them a free pass.
So, you support Russia invading a country, but criticizing Russia should be illegal. It sounds like you are a Neocon
EVERYTHING that the left touches turns into Dorkbamastuff.
You can’t have BRIS, you need a MOHEL.
This move away from the US Dollar needs for 2 things to happen.
(1) Hyperinflation of the US Dollar (this should be properly called Dollar Destruction; and will most likely be caused by federal deficit spending)
(2) Trust in other places like Moscow and Beijing being where sincerely fair justice can be obtained in the Courts by aggrieved parties on commerce transactions.
The corrupt folks in the Congress in DC are doing their best to destroy the Dollar through their continued insistence to keep raising the Debt Ceiling and spending more than the government brings in revenue.
But what are the regimes in Beijing and Moscow doing to be places of fairness where aggrieved parties can sincerely seek and get justice fairly? There’s a big reason why so many companies incorporate in Delaware. And the USA is a better place than many others to seek a redress of grievances and hopefully get fairness.
Now of course if you interview Putin or Xi to ask them if they are corrupt their answer would be “no”. But do you trust them? The Dollar’s status as “reserve” currency relies on trust.
It will take Mexico’s joining BRIChinaS+ before most Americans will notice.
Ban the electric car and a lot of those places loose big.
You make a good point. BRICS will only become a danger to the dollar when the S stands for Switzerland.
Sorry, this is ridiculous.
Why would anyone trust five Socialist dictatorships, or semi-dictatorships, more than they trust the US Dollar or the Euro?
And, if I only trust gold, I can buy physical gold, or gold futures, with highly liquid USDs or Euros.
You ADMITTED you supported the war in Afghanistan, whoch I opposed from day. That was the stupide4st war, worse than Iraq. 20 year and nothing accomplished.
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