One factor I noticed when it comes to currencies is that if it's accepted and agreed upon, then it has value! Thanks to Brenton Woods, the U.S. Dollar became the most accepted currency in the world. The U.S. was able to take the dollar off the gold standard and still remain the most used currency due to its link to oil and other factors. However, an organization that's originally founded as R.I.C. (Russia India China) grew as B.R.I.C. when Brazil joined and then became known as B.R.I.C.S. once South Africa joined. I suspect that if all member nations agree to accepting this new currency as an accredited currency similar to the U.S. Dollar, then the new currency will ultimately replace the dollar.
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If the countries of the world are willing to throw away the USD in favor of other currencies, it means that something is wrong with the USD. The US has abused the USD as the world's reserve currency, and the world is sick of it.
@@ezswan Then the petro yuan will end too. It is just a mathematical algorithm and nothing more. Abuse your currency and you get distrust and inflation. Simple as that... just math. But I believe they will do something else. They will create a finite resource backed currency that will be governed by an internation institution, which will make it a lot more reliable and non abusible. We'll see what happens next.
Funny joke there buddy. The BRICS nations are not the bulwark of morality, lol. Nothing is happening to the USD either, it will be at the expense of GBP/Yen and Euro over the USD.
It's time for the BRICS - New World Order to establish a default reserve currency or consider returning to the gold standard. Dealing with daily fluctuations in exchange rates for each country's currency would lead to excessive chaos.
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BRICS wants to build a new currency. It is also worth noting that gold has historically been used as a store of value and a means of exchange, and some countries still hold significant amounts of gold in their reserves. However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subject to numerous economic, political, and logistical considerations.
It's interesting to learn more about the discussions and proposals around BRICS nations and their potential use of gold. There are several reasons why people may choose to buy gold, including its historical use as a store of value and means of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities. Additionally, gold can offer diversification benefits to investment portfolios, as it tends to have a low correlation with other asset classes like stocks and bonds. However, it's important to note that investing in gold carries risks and may not be suitable for evervone. and investors should carefully consider their investment objectives, risk tolerance, and financial situation before making any decisions.
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It's interesting to learn more about the discussions and proposals around BRICS nations and their potential use of gold. There are several reasons why people may choose to buy gold, including its historical use as a store of value and means of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities.
Additionally, gold can offer diversification benefits to investment portfolios, as it tends to have a low correlation with other asset classes like stocks and bonds. However, it's important to note that investing in gold carries risks and may not be suitable for evervone. and investors should carefully consider their investment objectives, risk tolerance, and financial situation before making any decisions
However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subject to numerous economic, political, and logistical considerations.
Investing in gold is a reliable choice, and I plan to keep buying more to make up for my losses. While silver is also a good investment, my collectibles are not as similar. It's important to have clear investment goals and educate yourself on the type of investment that interests you..
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BRICS seeks to create a new currency, considering gold's historical role as a store of value and medium of exchange. However, the functionality and acceptance of a gold-backed currency in the current global financial system are uncertain. Creating a new currency requires careful consideration of economic, political, and logistical factors.
The discussions and proposals surrounding BRICS nations' potential use of gold are intriguing. People choose to buy gold for various reasons, such as its historical role as a store of value and medium of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities. Gold also offers diversification benefits to investment portfolios due to its low correlation with stocks and bonds. However, investing in gold carries risks and may not be suitable for everyone. Investors should carefully evaluate their objectives, risk tolerance, and financial situation before deciding.
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He conveniently ignored the part where US continues indiscriminate printing of USD to fund Wars n distribute among its people thereby reducing the purchasing powers of other countries holding USD reserves
Therefore, without the GOLD STANDARD BACKING Amerkca's dollar note as designed, america's notes will be less and less valuable until its just as good as fuel for burning wood, or confettis!
well.... how well is the euro dollar working for some countries? the smart countries stayed away from the euro. norway, switzerland and the UK when they were part of that disaster. and russia is involved in this? good luck.
@@hoooptie lol . Do you ever googled it. Indian woman have more gold than US and EU combined. And according to Indian law everything in india is owned by government
Why these Brics assume they’re the only ones who has gold and minerals? When sh!t goes down US will sit back and watch Brics turn into Bricks and Rubbles. Africa will be raped by 100 million Chinese because they will owe so much money because they want to build TOFU infrastructure.
More than a dozen countries are lining up to become a member of BRICS albeit it will take years to complete. The common currency once created within BRICS will be a game changer in world economy and order.
With changes in the economy leading to instability in the stock market, some individuals may face a decrease in their investments in an effort to benefit from the current market conditions, I am considering liquidating my $725k portfolio consisting of bonds and stocks. Someone else in the same situation? Please tell me in the comments!..
would suggest you thoroughly evaluate the companies you have invested in and their estimated future performance, as we may expect to see the market decline further. To minimize stress and improve efficiency, it might be wise to seek the assistance of an investment advisor to help restructure your portfolio and identify any underperforming investments to offset. This approach has been successful for me and has reduced my stress levels.
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Just in time for oil dependency to be a thing of the past thank god. OPEC's a criminal cartel anyway, the idea that countries can limit supply to manipulate the price is ridiculous, just imagine the outrage if countries growing wheat did the same (or any other staple for that matter, and at the moment oil is a staple for any modern economy).
We in the EAST is done with ur bloody western hegemony. No more monopoly and unipolar world!!! We manufacture and u guys use ur bloody fiat currency to buy these!! No more!!!
@I Laser you have no idea the amount of goods required through oil half of the renewable production comes from oil. You obviously didn't learn too much in life. Rubber tyres plastic gas lighter fluid oils nearly every single plastic comes from oil your kettle to your stereo phone electronics require oil to make procceors so many things will stop if oil stops our whole life. Unfortunately, solar wind is not a base load it is not reliable as in not 24 hr. It is up and down.
@@ilaser4064 LOL ima stop you right there bud. Unless you’re coastal and can afford hydro plants to line the shore. You aren’t going to generating the power needed to charge all those EVs. Let alone plastic, that thing that everything is packaged in, including but not limited to medical and other one time use/must be sterile products. Yeah that’s a by product of oil refining. So what’s your suggestion for literally every industry? Since they’ll be without their containers and wrappers. Oh not to mention, the power grid is outdated as all fuck, gonna need to update the entire grid for EVs to work for everyone. That’ll take something close to 200yrs. Sorry but you bought into a shitty idea, not to mention that the RnD that has gone into coal scrubbers for plants, they scrub roughy 99.9% of all emissions. Oh and since tech is advancing so quickly, there’s these machines called air miners, they pull the carbon right out of the air and materializes it. This completely makes EVs pointless. We can now literally use the fuel and pull it right back out of the air. Now this tech is a little off from being efficient and mass produced but give it about 10-20 years and it’ll be a much more normal thing. That alone makes EVs pointless as the money that needs to go into fixing out power grid although needed, isn’t going to happen in our lifetime or our kids lifetime or even our kids kids lifetime.
The Market have been suffering over the past month, with all the three indexes recording losses in recent weeks. My, $400,000 portfolio is down by approximately 20%, any recommendations to scale up my returns before retirement will be highly appreciated.
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Well it was bound to happen. USA is being totally irresponsible with their USD. Every country trades in USD. Every country clocks up debt to be repaid in USD. Except for USA. USA gives countries a piece of paper that is supposed to allow them to buy equivalent trades exchanges anywhere around the World. But when it's time for USA to pay their debt, they just PRINT OFF MORE MONEY, which seriously dilutes the power of the USD for every other country in the world. As a result, USA does NOT pay their debt ... but indirectly ... every other country pays their debt. USA gets commodities, raw materials, manufactured goods, global food, etc for virtually NOTHING ... they just give countries a piece of paper for their personal imports. The other thing USA does, which is extremely MEAN, is that USD's are circulated by SWIFT. All Countries have their USD held in SWIFT, which keeps track of the Countries USD transactions. But, USA have the POWER to switch off any Country's SWIFT account so they can NOT do any trade exchanges ...even though it's their OWN money. Look at Afghanistan. USA decides they don't like their Government, so they've switched off Afghanistan from SWIFT so that Afghanistan can NOT get access to their own Multi Billions of USDs ... forcing all the Afghan citizens to live in 3rd World Conditions because their Government can't build them Civic Infrastructures or provide them with Civic Services. As such, Countries need to off load their USD's ASAP and leave SWIFT. The BRICS+ World Community are working to fix the International Trading problem for them. BRICS+ Currency, as of January 2023, is called #R5 from the start of the "R" letter of the 5 Starting Nations currencies: - Real (BRL) in Brazil - Ruble (RUB) in Russia - Rupee (INR) in India - Renminbi (RMB) in China (China has 2 currencies. RMB or Renminbi for domestic transactions and, CNY or Chinese Yuan for international transactions outside of mainland China). - Rand (ZAR) in South Africa BRICS+ have a new bank, the NDB - New Development Bank for the new BRICS+'s currency.
... and if the USA decides they don't like you or they declare you an enemy, They'll freeze your dollars. ( Russia). This is recognized globally as an act of war.
Well said bro. Boycott of illegitimate printed american dollar is necessary to End exploitation of World,to end drain of wealth,to end bullying, sanctions,to decrease value of illegitimate printed dollar. Evil america also exports inflation to other countries through it's illegitimate dollar. Boycoting use of dollars will also end export of inflation to other countries by america. Countries of World should boycott use of american dollar for trade. Countries of World should dump american treasury bonds, should sold american dollars from their foreign reserves. Countries which do this as soon as possible will be benefited much more as compared to countries who do this late. Then illegitimate printing cannot save america,it will only increase inflation in america and other countries will not effected by increased inflation in america. Collapse of Evil america is necessary for welfare of whole World.
It's on for real. Take a fews years but it is over for the dollar. And the US economy will retract ;a lot of paper wealth will be lost. And it won't come back. The US will become like England a use to be country. And the west will fall behind the rest of the world in everything except military power. But won't have the money political will to do much because of domestic issues from Americans freaking out not being the world power and gods favorite nation anymore. So is the decline of American exceptionalism which never really was. Just the end of the advantage the US had After WW2. It only took what 100 years to almost ruin the planet for greed.
@@Mr.Monta77 No, USA manipulation. Instead of provoking China, wouldn't it be wonderful if USA worked with China. Every Human Being on the Planet would live a great life. Let's just hope USA grows up and stop their military provocations.
The last nail in the coffin is banning russia from using swift and hold their legal assets without legal trail. Its some dikhead come and seize all your hard-earned money. So India started a new vostro accounts now countries can just trade in their own currency with INR as a pair no need of dollar. US messed up the US dollar
The cashless policy and practice is to ensure the no buying & selling part of the mark of thebeast which is out now as the c19 💉❌🧬. Put your house in order, Jesus returns no more time. Jesus comes. Repent and ammend your ways. Put your house in order. No more time. Don't take c19💉, it's the mark. There are signs in the skies. Lk.21:25 The 💉tech is in the air, water, food, mosquitoes, cover up with THE BLOOD
@@ejs7861 right now you can't find dollars in Kenya. They are promptly getting rid of them. You'd be surprised how fast his could go, especially in africa which is tired of the condescending attitude of the west.
This guy is not well informed on this. There are many nations waiting to join BRICS. The African continent can use gold. As it currency. But the dollar is over as far as a main international currency. It's going to really start showing up here as an economic effect in a couple of years. When Russia takes down Ukraine its status in the world will go up. It defeated the US lead NATO grew it economy, caused economic problems for the US while doing so. And started to turn towards the east abandoning the west to the failing US and European economies. So BRICS will become more appealing to countries tried of the west worlds mess. East vs west but the west is mainly the weaker US and it satellite Europe which can't produce it own energy,but the east can produce all it needs. So you see the real situation is not good at all for the western world. America will be like England during the beginning of it post colonial era. To a fully used to be state. With only it military an older population, aging infrastructure,and an over severely retracted economy . And less people because people aren't having enough children to maintain the population base. But they're not say all that at once. Lol The news media will play this down till it's to late. And it has already begun.
Having a common currency might not be a great idea. We need to have clarity on multiple things. - Does these BRICS has any charter for common goals and shared interests? EU is group of countries in one continent. But when countires from differnet continents are part of the group what additional challenges can come to play? - If sanctions are imposed on any country within BRICS how rest in the group should deal with them? - If any country goes bankrupt or has high debt would they become burden on others? We have seen in EU how some countries defaulting has caused problems for others. - Incase a country goes to a war, or goes bankrupt how it will affect others? - We have a country like China which is highly unreliable and not transparant. They may not honor all the agreements. So who will penalise them when found guilty? - If currency is same would that encourage free movement, allow people to do jobs in the other countries just like EU? If not what is the point in having this common currency? How will we benefit with it? - If any member country is involved in terror funding, how that will have to be handled? Would this common currency help terrorists for their activities? - If one country in the group is in favor of any war and other is not and currency is same what would be impact? Without having clarity on all the fronts India shouldn't vouch for this. Obsession to repalce US dollar shouldn't land us in new problems.
It isn't just the transparency or the democratic basis of the currency that is the major problem, it is how the US weaponises its currency to further it's political agenda. The rest of the world is fed up with it and is looking to set up a more respectful and equitable status quo.
India had already started trading in Rupee with multiple nations already …. US is trying to dictate terms due to dominance of USD which is not in favour of many nations
India and Pakistan along with China are doomed look at there population growth sickening . Hey Putin let em live in Russia hope they like minus 50 plus weather ..
@@zaheer855 Just watch BRICS and BRICS plus meetings. India trades with Rupee with South Africa and Brazil. Also trade rupee with Middle East and other close allies of India.
@@khanhnguyen-tt3ff do your research on tiktok, youtube Nd you will realise that everyone is talking about reducing the use of USD ... Am live in africa and everyone around is in support of BRICS
This is the start of the devaluation of the US dollar, many countries have been bullied enough and are looking at an alternative where they could well get a better deal and have more independence in currency exchange. ASEAN now wants to do trade in local currencies. The US dollar has run its race
The US held all the cards after WW2 because it sold weapons to both sides until it was attacked by Japan and brought into the war at the end. Western nations stored their gold in the US because it was out of the war. After the war the US took everyone's gold in payment for outstanding debts, it was not interested in currency. He who has the gold makes the rules and they took full advantage to craft rules to suit the US.
The best thing an individual anywhere in the World can do for themselves and their families is to exchange their extra fiat currency that they do not need to live on for physical silver and gold. This is real money. Most people in the Western nations do not understand this.
@@pintiliecatalin funnily enough, yes! The US were pretty shympathizing towards german back then, and even when they sanctioned japan, they sill trade extensively on other sectors, esoecially weapons
Being overly dependent on American currency also subjects other countries to our policies and threats. We tend to use our dollars as punishment for other countries' behavior, as most recently seen with our shutting off commerce with Russia, which hasn't been very successful. Oil is at the heart of most of it, and gas. I think for Russia, the blowing up of the Nord Stream pipelines was the last straw. We have taken advantage of our standing in the world, and have ravaged countries that didn't comply with our demands about the oil and gas. It is only expected that other countries would make other alliances for oil, gas, monetary exchanges and imports/exports.
America meddles in every war and has army bases all over the world. Evil America. If I were Putin , I would Nuke America for zwhat we have done to the pipeline alone , meddle in others war ? Nuke time
Yes, we've done this to ourselves. The people who run our country, though brilliant, have acted stupidly. They assumed they could step on other peoples without consequence. Lesson learned.
No the Dollar is not under threat. May be for specific items they can make a deal but the US is the major developer/innovator and needed around the world.
This is how the rest of the world plans to defeat the world’s greatest bully. They don’t need to risk a war that might destroy the planet. All they need to do is expose the bully for what he is and make him an outcast by his own actions.
Ah yes, China, Russia, India, Brazil and South Africa, definitely very moral nations! It’s not like Russia attempts to annex other nations, China tries to genocide the Uighyrs, India has a caste system and Hindu hordes murder muslims, Brazil is rampant with corruption, and South Africa murders and displaces their farmers for being the descendants of a racist regime.
So many countries are fed up with America and Europe. They had it coming to be honest. We go from a unipolar American power to a multipolar BRICS+ power. Let’s see which is better.
The cashless policy and practice is to ensure the no buying & selling part of the mark of thebeast which is out now as the c19 💉❌🧬. Put your house in order, Jesus returns no more time. Jesus comes. Repent and ammend your ways. Put your house in order. No more time. Don't take c19💉, it's the mark. There are signs in the skies. Lk.21:25 The 💉tech is in the air, water, food, mosquitoes, cover up with THE BLOOD
It absolutely is about the dollar being the reserve currency. WHEN it no longer is the reserve currency…….USA WILL NO LONGER BE ABLE TO SANCTION other countries it doesn’t like or agree with. THIS IS HUGE…….and about time too
No matter what the message, people should actually know who is going to have the last 😂. I mean look at the leaders of the brics, 😂😂😂😂. All of them are dictators. Let just history talk.
@@thomasrudder9639 Trump destroyed USA and is now going to courts for his Fascist behaviour. The last thing the world needs right now is a Fascist like Trump ... the POS!.
Just for show, but still gonna use the swift banking system. Nobody wants to use Chinese money or Russian currency because they are fake currencies. South Africa has a weak economy. These countries are not financially transparent.
This is why gold is now over $2000 and Oz and will continue up to $3000 an oz... China, Russia, India, Brazil have all been buying tons of gold for the last 3 years
Gold prices rise during crisis not because a bloc buys a great amount of it. That actually would decrease the price due to supply demand. As the supply increases the value decreases and vice versa. So Gold is not the impetus....a new system is and gold eventually with the ability to manufacture it (Quantum computing and 3d printing) it will be worthless and guess who is in the race to manufacture Gold first.
@@lesserlight you cannot 3D print gold nor manufacture it... you can only mine it and refine it. It is theorized that gold is only produced neutron star collisions and until recently can be produced in microscopic amounts using vast amounts of energy in super colliders. you are very ill informed about gold
@Peter Smith Sorry to dissapoint you mate, but the US sold the biggest part of it's gold reserves to China the last five years, and China has by far the biggest reserves in the world. The US is bankrupt with it's national debt of 34 Trillion and no way to get out of it, the whole world knows this and that's why you see such a massive de-Dollarisation. Our money, Dollars and Euros have no value. It is like the stock market, all fried air. th-cam.com/video/BR4IErrOQhU/w-d-xo.html
That is wrong, every country had inflation because they all wanted to print more. Politicians love that and use every excuse to print. If the Fed printed dollars, that does not mean they asked other countries to do so. The other countries did the same thing because it was easy and they wanted it.
ASEAN is already forming their own remittance platform to bypass the USD denominated SWIFT. Very likely other trade blocs will follow. There will be a network effect but this time to ditch the USD for other alternatives.
There won't be any network effect when world's most economies will still use SWIFT. BRICS really are not that large economies if you remove their trade with the US and EU. Over 60% of world trade will be using SWIFT so how will you get network economics. Besides who is going to trust any thing run by BRICS countries?
It's an assumption only that China is pushing the Yuan as an international currency. In truth, Saudi Arabia accepts the Yuan for payment of oil, however, it is free to buy from China in any currency it chooses. Trade with China and India is in Rupee and Yuan. Russia will use it's Rubles, and so on.
Exactly! That guy is politicising it by gossiping basically about china going head to head with the USA i.e Yuan vs USD. There's absolutely nothing about china wanting to use yuan as a default currency for brics.
That's how debt diplomacy works. Provided your country has something, it's relevant. With the deterioration of the US dollar and repeat of how Bernanke said " irrational exuberance", what could be the next excuse of the people handling the monetary system? Read some Harvard articles about such . Did you know the connection of woke politics in the demise of SVB? Did you know the Green Politics is not embraced by Saudi? Why would they, when oil is their major industry. There will be countries that will be standouts because of a labor force who are literate. What good is there in the policies of the US under Biden with migrants that are not vetted. Look at how Americans in Educational system are worse in math and science compared to its Asian counterparts. Somehow , USA raised a generation of Brats. It's just what it is, a void needs to be filled somewhere.
@Ted Tan We liked Greenspans "irrational exuberance". In hindsight it covered what happened in the housing market, without him reacting. So, pretty ironic!
@@clementmpushe5957 I am no economist, but I think they are talking about a new reserve currency. As I understand it, a true reserve currency is accepted by the majority of nations. All nations then trade in this one reserve currency in order to simplify transactions between themselves. You need a nation with a huge economic footprint to serve this purpose, and China is closer to that, more so than any of the other BRICS nations (although India is coming up). You also need a nation on a solid footing, no social unrest likely to destroy its government, etc. Nations can always decide to trade with each other using their own currency. I think it is messy, as maybe you don't want to hold a currency of another nation that could fluctuate rapidly. As a nation, you would be holding value in nine different currencies--and dealing with fluctuating transaction rates and uncertainties in that nation. I think that is the value of having a reserve currency. That is why I think discussions focus on China.
@@Redactedlllllllllllll the average American can only store memory for 4 to 8 years, afterwards it start to fill in the gap with imaginary filler. "Make America great again" "Not a racist country" "Minorities never do anything useful in this country" It's really a problem....I think, can't remember
They can keep their worthless currencies. 😅😅 The Bretton Woods agreement and the U.S. navy patrolling waters and guaranteeing safety passage is why the dollar is what it is. Those BRICS countries can use their own Navies to protect their own ships then.
They are not friends, they are not democracies, the only thing they have in common is the critique they get on how bad their people live (human rights, freedom, democracy,...) and they just want to be together out of negative reasons and with negative goals.
We have become the laughing stock of the world under this administration. However you feel about the guy, Trump would have NEVER let our dollar get abused like this.
@@MiddleKingdom305 BRICS is an acronym for the five leading emerging economies. My point has nothing to do with these countries alliance. It has to do with them undermining the value of the US Dollar without any action/reaction/preventative action from the United States. This is a form of Economic Warfare. This would NEVER happened under Trump. I'm a Democrat, I dislike Trumps politics. But the reality is, this Eco Warfare would not take place if Trump was in office and anyone who won't admit that is simply lying to themselves.
@@Official_Rekk lol this is the FEDS Doing. It has constantly made poor economic decisions. Powell is stubborn and so are the people who run behind the scene. As more money is being printed to save your precious banks, The fed has undo years of Quantitive tightening policies. Get ready for a weaker dollar and more people transitioning to other assets like crypto, gold etc. This has nothng to do with other countries but a consolidaton of power from the corpos to lauch the CBDC.
Let them alone. Whenever it involves in a group of men and it is money’s concern, there will be big problems. Leave them alone they will bit one another.
This has happened because the US Federal Reserve has debased the USD by regular rounds of Quantitative Easing. The USD is rapidly losing its status as a reserve currency. The same happened with the GBP after WWI.
@@analyticalhabitrails9857 Not just in that way sadly. Look at the European Great Powers that created WWI by accident. They are all in play again with shifting alliances. Europe with civil wars and regional wars will eventually be engulfed. Not a nuclear war as everyone thinks but one of those bloody attrition genocidal wars. The Ukraine war shows us how it will go. The Balkans is the next to erupt. Remember the Archduke Ferdinand was assassinated in Sarajevo. Something like that will happen again, different but the same. Frankly, the EU is only a financial crisis away from the Euro falling apart and then Germany will leave the EU and the Southern states of Europe will implode. A Spanish civil war is never far away even now.
@@ClownCarCoup so imagine a world of finance with a line " No Credit, in GOD WE TRUST, everyone else pays cash" Yet faith tells me, there can be credit without interest, imagine that world
@@mobidick6064 Now step out of your fantasy world and put this to practice. You’ll be bankrupt and beggared tomorrow. We haven’t been _created_ into tribes and clans, we’ve _divided ourselves_ into tribes and clans. Each with its own god to worship be that Muhammad, Jehova, Yahweh, Vajrapāṇi or money.
even the longest journey starts with a step and this is a step in the right way. They don't have to prove themselves to others infact so many countries are waiting to get on board and to say that this nations aren't a trading block its something you have to rethink. It won't take this giants long before they control the bigger portion of the world market.
As much as I'm sad about the loss of the USD. I like seeing countries working together. I just hope it's for the best. There are many people within these nations.
@@burnerburner4074 As an American I agree. I have my grudges too. Dude I was led to believe Muslims were against the US, and Christianity was going to save the states. Like if Bush was Chosen for Gods master plan 😂
If 90% of the world switches to a digital currency, then the dollar is not under threat. It has been shot in the head, multiple times. The latest idea i have heard is alarming. A digital currency that has an expiration date. So you go to work, earn the money, and you have 1 month to spend it or it goes poof. It regulates inflation and hoarders. But what is so terrifying is, it eliminates almost all opportunities to climb in wealth. It upturns motivation, like an angry monopoly player.
Centralized digital currency should be rejected at all costs if anyone cares about any shred of freedom they have left for the 100% level of cotrol it gives govt anywhere.
@@movieinminutes1277 They will more than likely ban such purchases using CBDC, plus the possibility and likelihood that gold and silver will cost a small fortune, beyond the limit held in monthly CBDC accounts.
No offense but China has a looming debt crisis, the Russian economy is teetering as for South Africa...well...these nations will come back into compliance...just wait and see. Do not underestimate the power of the greenback.
Destined to fail for a simple reason.... the construct is as stable as the life expectancy of each involved dictator.... I would recommend to call it the B-RISC-Dollar. .. or the TroubleRupee.
The only country that matters here is China. All the others are laughable. The economy of the entire country of Russia is smaller than New York City. The fact that Russia was even invited shows its a dog and pony show. Further, every collaboration with Russia leads to abject failure from the ISS, to foreign investment in the country, corruption of their military, etc. Russia will botch this currency and sink the entire thing -- because they ALWAYS fail.
@@e.h97 My question is Do you identify yourself as a Trans male or Trans female ?? People of a country which doesn't even know what is there Gender , Are preaching other's 😂😂
India is polluting the earth. It cant manage its own population nor particularly in relation to resources its wildly out of control almost to a lesser extent is China and Brazil isnt doing much better when their prime economic means was cutting down the much needed rain forest to do other industry etc.
This notion of military bases will be replace with humans as in migrants and immigrants....This notion of America,France and europe in Africa will assure the likelihood of migrant and immigrant rule in America, Europe and France.....period
I think they will be successful in the short term but not in the longterm. I just dont see how these countries could trust and work together for more than a few years
Its not about trust, its about one common enemy, the US dollar and unnecessary inflation brought due to dominance of USD, apart from BRICS currency, each BRICS country has already started settling their trades in their own local currency.
@@keirenle unfortunately the reality is that buisness AND politics are interconnected and intertwined. They are two faces of the same coin so to speak. You can’t do business without tapping into politics one way or another. You cant have a prosperous business environment without stable political landscape. Just as you cant have a stable political environment without profitable economic and business landscape. So while the Bricks currency ( backed by real commodities such as gold …because without it its just another fiat) sounds promising there is a lot more to that then just words. It will take real dedication and compromise for all these countries to work together and put their differences aside. While this of course is possible, the human nature tends to screw everything up. So yea, i would believe it when i see it actually working.
They don't have to worry about that if their currency is backed by commodity, which the USD isn't. How can you trust a reserve currency when a single country can print it into infinity or weaponized it by whim.
@@jdg7327 Well that's true, BUT, again...just "saying" that a said currency is "backed by gold" is NOT the same than actually backing it by gold. To actually do that would imply a whole array of new laws and regulations and monetary policies. So far its just words. Yes they start to trade commodities outside of us dollar but that's not the same as backing their currencies with gold ( or other commodities ).
Russia, China and India have largest gold reserves. I don't know it matters or not but India as country hold 10-11% of world gold and recently India found new big gold reserves.
@@Rohit_0.552 India has a massive amount of gold. But you can check inda's books. You can't check Russia and Chinas. We have no idea if i moved we have no idea if someone stole it. We have no idea if it's still under there name at other places. We have no idea if most of it will be seized as war reperations. That's the problem with dealing with Russia and China. most of there econ is very opaque even to the people running the gov. It's why hate when the USA puts more and more road blocks to the books. Like is happening in some right wing states and left wing states. It sets up lies and lies build false answers. False answers make for more mistakes.
Not good idea to have a BRICS currency. Just use Gold standard & individual currency for BRICS. Look at Euro, it failed because various country financial strength is different. Weaker country will have a hard time catching up with stronger country.
Not good keeping USD's ... that's even worse. USA never pay their debt, they just print off more USD's diluting the value of the USD for every other country ... AND ... USA just switch off a Countries SWIFT account so their billions of USD's is frozen and the cant trade, if USA decides they don't like a Country's Government of their life styles. WTF!!!!
The cashless policy and practice is to ensure the no buying & selling part of the mark of thebeast which is out now as the c19 💉❌🧬. Put your house in order, Jesus returns no more time. Jesus comes. Repent and ammend your ways. Put your house in order. No more time. Don't take c19💉, it's the mark. There are signs in the skies. Lk.21:25 The 💉tech is in the air, water, food, mosquitoes, cover up with THE BLOOD
Most currencies are named after a unit of weight, for example pound, lira, etc I'm looking forward to the day when we trade in grams (Au) - the scientific international standard
I just wonder how long this alliance will last before greed and political influence gets in the way? As it stands, we all know who is king, but forging ahead into a collaboration with countries that historically have been at odds with each other... well, we'll see how it plays out.
If the purpose of an alliance is for ease of trades, reduces risks, and saves money for both parties involved. I can see its values. Learned from the USD and don't mix business with politics. It will be fine.
@@MiddleKingdom305 Actually, China and India have coexisted peacefully since thousands of years. The conflicts are very recent starting from when China took over tibet that directly borders India.
eventually nations will start blaming the others for not pulling their weight or dragging down the value of whatever currency they agree on. It will implode.
us elite and secret societies controlling it all through the world economic forum.. Brics is nothing but a trojan horse to collapse dollar and enslave all these countries in CBDC, in preparation for a one world government, religion, and digital currency to force an orderly ext3rmlnatl0n on humanity
The BRICS nations are not changing their own internal currencies. India will still use the Rupee, China will still use the Renminbi, etc... The new currency is meant to be a MEDIUM of conversion and trade BETWEEN currencies/countries. Because its value is likely going to be based on a basket of commodities (like gold/minerals) the value of this new currency will be VERY stable, and not subject to arbitrary actions of any one nation (UNLIKE the USD). Nations will also begin to gradually use it as a RESERVE CURRENCY - since it will be highly stable in retaining value - where they can keep funds safe for a rainy day, to buy oil, gold, lithium, coal, or whatever they need to import in a time of crisis when their own currency's value might be depreciating (replacing the USD currently used for that role). This means that the conversion rate between the Rupee and the Renminbi is not going to wildly vary on any given day, and the govts of these respective countries will have a huge amount of control over the value of their own currencies, and make international trade much more stable and less subject to the whims or disasters of ONE particular country. A stock market crash in China or Brazil or USA will have far less impact on other nations, and will be unlikely to precipitate a global crisis, just because one big bank in the US/China/wherever failed. Moreover, without any single country controlling the value of this currency, there is little chance of it being *unilaterally* used to isolate or dominate other nations. The US in particular also exports all its inflation to other nations every time they crank up the printing press. Americans experience a tiny fraction of the inflation, while EVERY other currency is BURIED when the fed decides that printing more money will solve the problem. So you can see *why* this idea is so attractive to many nations. They get more stability and control, and are no longer subject to American whims / disasters / policies / moneyprinting.
All BRICKs nation prints their currency in way bigger relative quantities that us. Common currency requires common trust among the joining nations. BRICKs are some of the most corrupt nations.
@@Keeeeeb nope. Inr is backed by gold and even rubble will be backed by gold asper Putin. What I mean to say, BRCIS WILL DEVELOP SOME COMMON CURRENCY TO TRADE LIKE EURO BUT SHOULD BE PEGGED BY GOLD
Prof.Quelsh noted that foreign states won't to depend on the decisions of the US Federal Reserve in their international economic and trade relations. I would say the main argument of countries trying to create an alternative currency to the dollar is not Federal Reserve but the use of policy of sanctions pressure on other countries. From the moment the US began imposing sanctions on other countries, they began to dig a grave for the dollar and now it is only a matter of time before it is finally buried. What goes around comes around.
You're wrong, they dug a grave for the sanctioned countries. Russia is a broke shithole now that has to beg China to finance them. You couldn't be more fucking stupid.
I guess this is what old joe was talking about when he said we shouldn’t do well financially while everyone else does bad. Its all orchestrated. Its also not bad for the world.
I really hope that this BRICS currency succeeds and it ends up being backed by gold or silver. Right now, every piece of currency is printed out of thin air and loses it's value over time. Not only that, but inflation comes with it too, making every currency (euro, dollar etc) worth less and less. I really hope that BRICS succeed and it is backed up by gold/silver.
Brics doesn’t exist in China. You don’t agree with what the local gov is doing, boom you have no money in your account. It’s supposedly back by gold right? Yet it’s digital, and they can take it when they want
@@siliconhawk True! Very true. It is so sad what happens with the dollar. It becomes less valuable and more inflationary. And euro too. All these fiat money are losing value and power.. Here where I live prices went crazy. Everything increased. I hope that this BRICS initiative succeeds. I would like to have money that actually has some value. And less inflation please 😇🙏
One factor I noticed when it comes to currencies is that if it's accepted and agreed upon, then it has value! Thanks to Brenton Woods, the U.S. Dollar became the most accepted currency in the world. The U.S. was able to take the dollar off the gold standard and still remain the most used currency due to its link to oil and other factors. However, an organization that's originally founded as R.I.C. (Russia India China) grew as B.R.I.C. when Brazil joined and then became known as B.R.I.C.S. once South Africa joined. I suspect that if all member nations agree to accepting this new currency as an accredited currency similar to the U.S. Dollar, then the new currency will ultimately replace the dollar.
All big corps are just a cohort of centralized system working together, and any damage to one can have a dangerous ripple effect on every other one. I learned a long time ago to not trust corporations. Most of my money is in the stock market and my businesses. I keep only what I need to spend in my checking account.
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If the countries of the world are willing to throw away the USD in favor of other currencies, it means that something is wrong with the USD.
The US has abused the USD as the world's reserve currency, and the world is sick of it.
US dollar is killing the whole world
lol if you think a petro yuan is going to "not," be abused.... youre insane.
Pretty much it, it's time for the US to step back once and for all. Bye
@@ezswan Then the petro yuan will end too. It is just a mathematical algorithm and nothing more. Abuse your currency and you get distrust and inflation. Simple as that... just math. But I believe they will do something else. They will create a finite resource backed currency that will be governed by an internation institution, which will make it a lot more reliable and non abusible. We'll see what happens next.
Funny joke there buddy. The BRICS nations are not the bulwark of morality, lol. Nothing is happening to the USD either, it will be at the expense of GBP/Yen and Euro over the USD.
It's time for the BRICS - New World Order to establish a default reserve currency or consider returning to the gold standard. Dealing with daily fluctuations in exchange rates for each country's currency would lead to excessive chaos.
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BRICS wants to build a new currency. It is also worth noting that gold has historically been used as a store of value and a means of exchange, and some countries still hold significant amounts of gold in their reserves. However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subject to numerous economic, political, and logistical considerations.
It's interesting to learn more about the discussions and proposals around BRICS nations and their potential use of gold. There are several reasons why people may choose to buy gold, including its historical use as a store of value and means of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities. Additionally, gold can offer diversification benefits to investment portfolios, as it tends to have a low correlation with other asset classes like stocks and bonds. However, it's important to note that investing in gold carries risks and may not be suitable for evervone. and investors should carefully consider their investment objectives, risk tolerance, and financial situation before making any decisions.
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It's interesting to learn more about the discussions and proposals around BRICS nations and their potential use of gold. There are several reasons why people may choose to buy gold, including its historical use as a store of value and means of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities.
Additionally, gold can offer diversification benefits to investment portfolios, as it tends to have a low correlation with other asset classes like stocks and bonds. However, it's important to note that investing in gold carries risks and may not be suitable for evervone. and investors should carefully consider their investment objectives, risk tolerance, and financial situation before making any decisions
However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subject to numerous economic, political, and logistical considerations.
Investing in gold is a reliable choice, and I plan to keep buying more to make up for my losses. While silver is also a good investment, my collectibles are not as similar. It's important to have clear investment goals and educate yourself on the type of investment that interests you..
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BRICS seeks to create a new currency, considering gold's historical role as a store of value and medium of exchange. However, the functionality and acceptance of a gold-backed currency in the current global financial system are uncertain. Creating a new currency requires careful consideration of economic, political, and logistical factors.
The discussions and proposals surrounding BRICS nations' potential use of gold are intriguing. People choose to buy gold for various reasons, such as its historical role as a store of value and medium of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities. Gold also offers diversification benefits to investment portfolios due to its low correlation with stocks and bonds. However, investing in gold carries risks and may not be suitable for everyone. Investors should carefully evaluate their objectives, risk tolerance, and financial situation before deciding.
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He conveniently ignored the part where US continues indiscriminate printing of USD to fund Wars n distribute among its people thereby reducing the purchasing powers of other countries holding USD reserves
Which is why ppl buying from china😂
US also uses the dollar to export inflation to other countries, many countries' government are on the edge of bankruptcy because of that.
Additionally, the US dollar funds an apartheid government.
@@eliso5973 that's what he said already
@@redpillscience1288😂😂😂
My dad told me about this 10 years ago and it's now happening
Good dad you have.
Therefore, without the GOLD STANDARD BACKING Amerkca's dollar note as designed, america's notes will be less and less valuable until its just as good as fuel for burning wood, or confettis!
It's not happening though, and probably never will.
New world order in full affect, anyone who knows the end of their plans know it’s the end days… biblical days, Jesus return
@@sammalama naysayers species have been proven wrong again and again
Good thing about Brics is that the currency is backed with gold, unlike US that prints and creates high inflation.
well.... how well is the euro dollar working for some countries? the smart countries stayed away from the euro. norway, switzerland and the UK when they were part of that disaster. and russia is involved in this? good luck.
@@nickyalousakis3851Its a matter of time before the US dollar collapses
The US has more gold than the BRICS countries combined
@@hoooptie lol .
Do you ever googled it.
Indian woman have more gold than US and EU combined.
And according to Indian law everything in india is owned by government
Why these Brics assume they’re the only ones who has gold and minerals? When sh!t goes down US will sit back and watch Brics turn into Bricks and Rubbles. Africa will be raped by 100 million Chinese because they will owe so much money because they want to build TOFU infrastructure.
More than a dozen countries are lining up to become a member of BRICS albeit it will take years to complete. The common currency once created within BRICS will be a game changer in world economy and order.
Finally, some countries are waking up for a brave new world order. But I will never give up my cash money for buying my needs.
They are meeting here in my home city , Durban, South Africa in August. I think that it's going to happen very soon.
It will take less than 10 years. BRICS is developing a basket of multiple currencies, not one imperial currency.
@@heinrichvisser8518 Dit gebeur in Augustus mnr Visser. Can't wait!
@@AnneliedeWet hier in Durban. Kan ook nie wag nie. Ons beweeg weg van die boelie af.
Not to forget about Iran, Saudi Arabia and Malaysia are now wanting to not rely on the dollar that much
Yeah Iran and Malaysia. Good luck with that. Don’t forget that SA is under protection of the US.
@@jvb4450 protection from whate 😂
@@jvb4450 Don't really know about Malaysia but if you watch the news SA started move away from USA since few months ago and that's not even secret
@@jvb4450 Protection from what?
@@silverray7 aliens lol
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would suggest you thoroughly evaluate the companies you have invested in and their estimated future performance, as we may expect to see the market decline further. To minimize stress and improve efficiency, it might be wise to seek the assistance of an investment advisor to help restructure your portfolio and identify any underperforming investments to offset. This approach has been successful for me and has reduced my stress levels.
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Gold & Foreign Value Stock
The scary part is OPEC+ is also planning to join brics... it will take time of course but Brics is turning into a force to be reckon.
Just in time for oil dependency to be a thing of the past thank god. OPEC's a criminal cartel anyway, the idea that countries can limit supply to manipulate the price is ridiculous, just imagine the outrage if countries growing wheat did the same (or any other staple for that matter, and at the moment oil is a staple for any modern economy).
We in the EAST is done with ur bloody western hegemony. No more monopoly and unipolar world!!!
We manufacture and u guys use ur bloody fiat currency to buy these!!
No more!!!
@I Laser you have no idea the amount of goods required through oil half of the renewable production comes from oil. You obviously didn't learn too much in life. Rubber tyres plastic gas lighter fluid oils nearly every single plastic comes from oil your kettle to your stereo phone electronics require oil to make procceors so many things will stop if oil stops our whole life. Unfortunately, solar wind is not a base load it is not reliable as in not 24 hr. It is up and down.
@@ilaser4064 that happens all over the world and not just in oil. wto cant sue opec because all major countries are doing it in various commodities
@@ilaser4064 LOL ima stop you right there bud.
Unless you’re coastal and can afford hydro plants to line the shore. You aren’t going to generating the power needed to charge all those EVs.
Let alone plastic, that thing that everything is packaged in, including but not limited to medical and other one time use/must be sterile products. Yeah that’s a by product of oil refining. So what’s your suggestion for literally every industry? Since they’ll be without their containers and wrappers.
Oh not to mention, the power grid is outdated as all fuck, gonna need to update the entire grid for EVs to work for everyone. That’ll take something close to 200yrs.
Sorry but you bought into a shitty idea, not to mention that the RnD that has gone into coal scrubbers for plants, they scrub roughy
99.9% of all emissions.
Oh and since tech is advancing so quickly, there’s these machines called air miners, they pull the carbon right out of the air and materializes it. This completely makes EVs pointless. We can now literally use the fuel and pull it right back out of the air. Now this tech is a little off from being efficient and mass produced but give it about 10-20 years and it’ll be a much more normal thing.
That alone makes EVs pointless as the money that needs to go into fixing out power grid although needed, isn’t going to happen in our lifetime or our kids lifetime or even our kids kids lifetime.
The Market have been suffering over the past month, with all the three indexes recording losses in recent weeks. My, $400,000 portfolio is down by approximately 20%, any recommendations to scale up my returns before retirement will be highly appreciated.
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Get out now, and put where the Fed has been putting theirs.
Well it was bound to happen. USA is being totally irresponsible with their USD. Every country trades in USD. Every country clocks up debt to be repaid in USD. Except for USA.
USA gives countries a piece of paper that is supposed to allow them to buy equivalent trades exchanges anywhere around the World. But when it's time for USA to pay their debt, they just PRINT OFF MORE MONEY, which seriously dilutes the power of the USD for every other country in the world. As a result, USA does NOT pay their debt ... but indirectly ... every other country pays their debt.
USA gets commodities, raw materials, manufactured goods, global food, etc for virtually NOTHING ... they just give countries a piece of paper for their personal imports.
The other thing USA does, which is extremely MEAN, is that USD's are circulated by SWIFT. All Countries have their USD held in SWIFT, which keeps track of the Countries USD transactions. But, USA have the POWER to switch off any Country's SWIFT account so they can NOT do any trade exchanges ...even though it's their OWN money.
Look at Afghanistan. USA decides they don't like their Government, so they've switched off Afghanistan from SWIFT so that Afghanistan can NOT get access to their own Multi Billions of USDs ... forcing all the Afghan citizens to live in 3rd World Conditions because their Government can't build them Civic Infrastructures or provide them with Civic Services.
As such, Countries need to off load their USD's ASAP and leave SWIFT.
The BRICS+ World Community are working to fix the International Trading problem for them.
BRICS+ Currency, as of January 2023, is called #R5 from the start of the "R" letter of the 5 Starting Nations currencies:
- Real (BRL) in Brazil
- Ruble (RUB) in Russia
- Rupee (INR) in India
- Renminbi (RMB) in China (China has 2 currencies. RMB or Renminbi for domestic transactions and, CNY or Chinese Yuan for international transactions outside of mainland China).
- Rand (ZAR) in South Africa
BRICS+ have a new bank, the NDB - New Development Bank for the new BRICS+'s currency.
... and if the USA decides they don't like you or they declare you an enemy, They'll freeze your dollars. ( Russia). This is recognized globally as an act of war.
Well said bro.
Boycott of illegitimate printed american dollar is necessary to End exploitation of World,to end drain of wealth,to end bullying, sanctions,to decrease value of illegitimate printed dollar. Evil america also exports inflation to other countries through it's illegitimate dollar. Boycoting use of dollars will also end export of inflation to other countries by america.
Countries of World should boycott use of american dollar for trade. Countries of World should dump american treasury bonds, should sold american dollars from their foreign reserves. Countries which do this as soon as possible will be benefited much more as compared to countries who do this late.
Then illegitimate printing cannot save america,it will only increase inflation in america and other countries will not effected by increased inflation in america. Collapse of Evil america is necessary for welfare of whole World.
Kremlin propaganda.
It's on for real. Take a fews years but it is over for the dollar. And the US economy will retract ;a lot of paper wealth will be lost. And it won't come back. The US will become like England a use to be country. And the west will fall behind the rest of the world in everything except military power. But won't have the money political will to do much because of domestic issues from Americans freaking out not being the world power and gods favorite nation anymore. So is the decline of American exceptionalism which never really was. Just the end of the advantage the US had After WW2. It only took what 100 years to almost ruin the planet for greed.
@@Mr.Monta77 No, USA manipulation. Instead of provoking China, wouldn't it be wonderful if USA worked with China. Every Human Being on the Planet would live a great life. Let's just hope USA grows up and stop their military provocations.
US overprint of the dollar resulting in high inflation caused BRICS to find alternate currency for financial stability
Fact!!!!
Also weaponize as per it's wish.
That was a part of it. The US Sanctioning russia to the point that they forced them to go to china is what did this.
The last nail in the coffin is banning russia from using swift and hold their legal assets without legal trail. Its some dikhead come and seize all your hard-earned money. So India started a new vostro accounts now countries can just trade in their own currency with INR as a pair no need of dollar. US messed up the US dollar
Doesnt mean its going to work though wawawa
Transparency? Democracy? Threat? Are you kidding yourself or us?Explain SVB rescue to us people, coz we don’t see transparency here at all!
Gavin Newsom and his Chinese depositors is the reason SVB got bailed out.
The cashless policy and practice is to ensure the no buying & selling part of the mark of thebeast which is out now as the c19 💉❌🧬.
Put your house in order, Jesus returns no more time.
Jesus comes. Repent and ammend your ways. Put your house in order. No more time. Don't take c19💉, it's the mark.
There are signs in the skies. Lk.21:25
The 💉tech is in the air, water, food, mosquitoes, cover up with THE BLOOD
I spit out my drink when she said because of our democracy.
@@ricosauve5 western NPCs like to add democracy and Human rights to every single thing they are against.
Gold is a ancient relic. We got Bitcoin and distributed blockchain now. No bank account and no permission to use it. Glorious future 😊
Other 53 African countries need to join this group and the game will be over
60%+ nations reserve still in dollar... maybe in few decade... the effect will be ..........
@@ejs7861 right now you can't find dollars in Kenya. They are promptly getting rid of them. You'd be surprised how fast his could go, especially in africa which is tired of the condescending attitude of the west.
@@NshutiFabrice-dp5li nothing going to happen
This guy is not well informed on this. There are many nations waiting to join BRICS. The African continent can use gold. As it currency. But the dollar is over as far as a main international currency. It's going to really start showing up here as an economic effect in a couple of years. When Russia takes down Ukraine its status in the world will go up. It defeated the US lead NATO grew it economy, caused economic problems for the US while doing so. And started to turn towards the east abandoning the west to the failing US and European economies. So BRICS will become more appealing to countries tried of the west worlds mess. East vs west but the west is mainly the weaker US and it satellite Europe which can't produce it own energy,but the east can produce all it needs. So you see the real situation is not good at all for the western world. America will be like England during the beginning of it post colonial era. To a fully used to be state. With only it military an older population, aging infrastructure,and an over severely retracted economy . And less people because people aren't having enough children to maintain the population base. But they're not say all that at once. Lol The news media will play this down till it's to late. And it has already begun.
BRICS welcomes Africa 🙏
Having a common currency might not be a great idea. We need to have clarity on multiple things.
- Does these BRICS has any charter for common goals and shared interests? EU is group of countries in one continent. But when countires from differnet continents are part of the group what additional challenges can come to play?
- If sanctions are imposed on any country within BRICS how rest in the group should deal with them?
- If any country goes bankrupt or has high debt would they become burden on others? We have seen in EU how some countries defaulting has caused problems for others.
- Incase a country goes to a war, or goes bankrupt how it will affect others?
- We have a country like China which is highly unreliable and not transparant. They may not honor all the agreements. So who will penalise them when found guilty?
- If currency is same would that encourage free movement, allow people to do jobs in the other countries just like EU? If not what is the point in having this common currency? How will we benefit with it?
- If any member country is involved in terror funding, how that will have to be handled? Would this common currency help terrorists for their activities?
- If one country in the group is in favor of any war and other is not and currency is same what would be impact?
Without having clarity on all the fronts India shouldn't vouch for this. Obsession to repalce US dollar shouldn't land us in new problems.
"U.S. finance is sufficiently democratic and transparent"? So why do you think they decided to form a group to abandon the US dollar?
It isn't just the transparency or the democratic basis of the currency that is the major problem, it is how the US weaponises its currency to further it's political agenda. The rest of the world is fed up with it and is looking to set up a more respectful and equitable status quo.
oh you see the evil countries are mad at the US for being so good and pure of heart that's why
He must be lying through his teeth
You still believe the words coming from the Communists mouth? Just look at how Russia treats Ukraine
Look up how their currencies have preformed against the dollar over the past five years and you will have your answer.
India had already started trading in Rupee with multiple nations already …. US is trying to dictate terms due to dominance of USD which is not in favour of many nations
India and Pakistan along with China are doomed look at there population growth sickening . Hey Putin let em live in Russia hope they like minus 50 plus weather ..
Where you got this information, can you please share the source.
@@zaheer855 Just watch BRICS and BRICS plus meetings. India trades with Rupee with South Africa and Brazil. Also trade rupee with Middle East and other close allies of India.
@@zaheer855 th-cam.com/video/-o64gYsv1uQ/w-d-xo.html
@OddPotato also India and Japan have agreements in rupee-yen loans for each other. To reduce the burden of dollars in loans.
The entire africa is shifting to BRICS currency
The entire *continent
??
lol you clearly dont know what you talking about how can the entire Africa shifting to BRICS currency when 1/3 of them is using CFA franc
@@khanhnguyen-tt3ff the trend is baked in.
@@khanhnguyen-tt3ff do your research on tiktok, youtube Nd you will realise that everyone is talking about reducing the use of USD ... Am live in africa and everyone around is in support of BRICS
No only 5 countries, they have no clue what they talkimg Russians are stop using Dollars sine 2008 and switched to Gold same China
Brave step to launch a common international currency
INDONESIA and SAUDI ARABIA could also enter the BRIICSS nations
They are in the process of doing so
Brics +
As an Indian we welcome them 🙏🏻
🇧🇷🇷🇺🇮🇳🇨🇳🇿🇦
This is the start of the devaluation of the US dollar, many countries have been bullied enough and are looking at an alternative where they could well get a better deal and have more independence in currency exchange. ASEAN now wants to do trade in local currencies. The US dollar has run its race
That would ruin the name.. BricsISA doesn’t sound right
The US held all the cards after WW2 because it sold weapons to both sides until it was attacked by Japan and brought into the war at the end. Western nations stored their gold in the US because it was out of the war. After the war the US took everyone's gold in payment for outstanding debts, it was not interested in currency. He who has the gold makes the rules and they took full advantage to craft rules to suit the US.
You don't say? To wich country did the us sold weapons? Germany? Japan?
It didn't just sell. To Germany and Japan, it gave them the weapons and oil for free in exchange for them adopting eugenics and committing genocide.
The best thing an individual anywhere in the World can do for themselves and their families is to exchange their extra fiat currency that they do not need to live on for physical silver and gold. This is real money. Most people in the Western nations do not understand this.
@@pintiliecatalin funnily enough, yes!
The US were pretty shympathizing towards german back then, and even when they sanctioned japan, they sill trade extensively on other sectors, esoecially weapons
…and then Nixon changed the gold standard into the petrodollar… would be interesting to see how much gold US actually has now?
Being overly dependent on American currency also subjects other countries to our policies and threats. We tend to use our dollars as punishment for other countries' behavior, as most recently seen with our shutting off commerce with Russia, which hasn't been very successful. Oil is at the heart of most of it, and gas. I think for Russia, the blowing up of the Nord Stream pipelines was the last straw. We have taken advantage of our standing in the world, and have ravaged countries that didn't comply with our demands about the oil and gas. It is only expected that other countries would make other alliances for oil, gas, monetary exchanges and imports/exports.
What's all this "we" stuff? The parasitic psychopaths who control this country are soley responsible for everything.
I hope St. Petersburg is treating you well.
@@decekfrokfr3mdx haha Anglo skum
America meddles in every war and has army bases all over the world. Evil America. If I were Putin , I would Nuke America for zwhat we have done to the pipeline alone , meddle in others war ? Nuke time
Yes, we've done this to ourselves. The people who run our country, though brilliant, have acted stupidly. They assumed they could step on other peoples without consequence. Lesson learned.
No the Dollar is not under threat. May be for specific items they can make a deal but the US is the major developer/innovator and needed around the world.
Namaste to all brics nations 🙏🏻
🇧🇷🇷🇺🇮🇳🇨🇳🇿🇦
🙏🏻🇮🇳🙏🏻
Pakistan will join the BRICS nations too.
Peace. Sending LOVE from South Africa
Good luck with fascist Russia on your side.
Terror country of Russia. They will have to anwser one day.
This is how the rest of the world plans to defeat the world’s greatest bully. They don’t need to risk a war that might destroy the planet. All they need to do is expose the bully for what he is and make him an outcast by his own actions.
Ah yes, China, Russia, India, Brazil and South Africa, definitely very moral nations! It’s not like Russia attempts to annex other nations, China tries to genocide the Uighyrs, India has a caste system and Hindu hordes murder muslims, Brazil is rampant with corruption, and South Africa murders and displaces their farmers for being the descendants of a racist regime.
We don't like you anyways. SINCERELY the big bad bully😂😢
Bully Russia?
@@god6384 No, Russia is against American bully cowboys. From Turkey
A war is definitely needed the people vs the "system" the real enemy
Good, why should the world be controlled by the Federal Reserve
Because they are a helova lot more responsible than YOU.
@@samsonsoturian6013
Fed is very good at printing money
@@abracadabra4800 And burning it, unlike you. Now shut up before we draft you
@@samsonsoturian6013
Who is we ?
@@abracadabra4800 You
So many countries are fed up with America and Europe. They had it coming to be honest. We go from a unipolar American power to a multipolar BRICS+ power. Let’s see which is better.
It's not about the money it's about the message
The cashless policy and practice is to ensure the no buying & selling part of the mark of thebeast which is out now as the c19 💉❌🧬.
Put your house in order, Jesus returns no more time.
Jesus comes. Repent and ammend your ways. Put your house in order. No more time. Don't take c19💉, it's the mark.
There are signs in the skies. Lk.21:25
The 💉tech is in the air, water, food, mosquitoes, cover up with THE BLOOD
yap, and it was sent!
It absolutely is about the dollar being the reserve currency. WHEN it no longer is the reserve currency…….USA WILL NO LONGER BE ABLE TO SANCTION other countries it doesn’t like or agree with. THIS IS HUGE…….and about time too
No. It’s obviously about the money lol. And power
No matter what the message, people should actually know who is going to have the last 😂.
I mean look at the leaders of the brics, 😂😂😂😂.
All of them are dictators. Let just history talk.
what a time to be alive..
Not such a good time to be alive if one is American and leans toward the right.
Lucia what is considered a right wing in America because liberals tend to use that word on everyone that doesn’t agree with them
@@Lucia-sy7le what does the right have to do with anything?
2 minute paper? 😆
It's like 1938 again. Communists and nazis holding hands to destroy democracy.
The US has lost its mind.
I wish
The dems have lost their minds
@@thomasrudder9639 shut up
@@thomasrudder9639 you suck! Divisiveness! Left and right are the same coin!
@@thomasrudder9639 Trump destroyed USA and is now going to courts for his Fascist behaviour. The last thing the world needs right now is a Fascist like Trump ... the POS!.
Just for show, but still gonna use the swift banking system. Nobody wants to use Chinese money or Russian currency because they are fake currencies. South Africa has a weak economy. These countries are not financially transparent.
This is why gold is now over $2000 and Oz and will continue up to $3000 an oz... China, Russia, India, Brazil have all been buying tons of gold for the last 3 years
Gold prices rise during crisis not because a bloc buys a great amount of it. That actually would decrease the price due to supply demand. As the supply increases the value decreases and vice versa. So Gold is not the impetus....a new system is and gold eventually with the ability to manufacture it (Quantum computing and 3d printing) it will be worthless and guess who is in the race to manufacture Gold first.
@@lesserlight you cannot 3D print gold nor manufacture it... you can only mine it and refine it. It is theorized that gold is only produced neutron star collisions and until recently can be produced in microscopic amounts using vast amounts of energy in super colliders. you are very ill informed about gold
You Tube investment advice. You can bank on that 😁😄😆😂🤣
@Peter Smith Sorry to dissapoint you mate, but the US sold the biggest part of it's gold reserves to China the last five years, and China has by far the biggest reserves in the world. The US is bankrupt with it's national debt of 34 Trillion and no way to get out of it, the whole world knows this and that's why you see such a massive de-Dollarisation. Our money, Dollars and Euros have no value. It is like the stock market, all fried air.
th-cam.com/video/BR4IErrOQhU/w-d-xo.html
The last 8 years...
One major reason why many country went into inflation is because of US dollar.
You have understood things.
No it was because the international economy got ass fuked by Covid you goddam re-tard 😂
no, it's because they are losers countries.
Good luck trying to convince Liberals of that.
That is wrong, every country had inflation because they all wanted to print more. Politicians love that and use every excuse to print. If the Fed printed dollars, that does not mean they asked other countries to do so. The other countries did the same thing because it was easy and they wanted it.
Prof john will be truly surprised and eat his words by end of 2023.
Makes sense. Why should 2 sovereign countries use the currency of a third country that is not involved in their trade.
ASEAN is already forming their own remittance platform to bypass the USD denominated SWIFT. Very likely other trade blocs will follow. There will be a network effect but this time to ditch the USD for other alternatives.
There won't be any network effect when world's most economies will still use SWIFT. BRICS really are not that large economies if you remove their trade with the US and EU. Over 60% of world trade will be using SWIFT so how will you get network economics. Besides who is going to trust any thing run by BRICS countries?
Another reason to boycott China and India.
ASEAN isn't worth anything on the International stage.
Plus they depend on western countries' sweatshops in order to have jobs and innovations
SWIFT is European no?
India has already created SWIFT alternative immediately after Russian sanctions.
India Russia also dealing in Rupee Roubles...So they have trade currency other than USD too.
INR, The Indian rupee has absolute added advantage of Unified Payment Interface (UPI) which completes transactions in real-time.
@@aryanically Not anymore. There's a tiny 1% transaction fee for a transaction of a few thousand.
@@HemantKumar-id3jg Only for payment from wallet, not from bank to bank
@@tarungupta506 Nah it's from bank to bank too.
@@HemantKumar-id3jg I told you. It's only for payment through wallets in upi apps.
@@aryanically Ah! For vendors, that explains it.
Other folks are tired of US, driving their countries to poverty. This is the beginning of the end, of US Currency.
I can see that the Dollar will still be the most stable currency in next 25 years.
ok XXXXXXXXXXXDDDDDDDDDDDDDDDDDDDDDD
It's an assumption only that China is pushing the Yuan as an international currency. In truth, Saudi Arabia accepts the Yuan for payment of oil, however, it is free to buy from China in any currency it chooses. Trade with China and India is in Rupee and Yuan. Russia will use it's Rubles, and so on.
Exactly! That guy is politicising it by gossiping basically about china going head to head with the USA i.e Yuan vs USD. There's absolutely nothing about china wanting to use yuan as a default currency for brics.
That's how debt diplomacy works.
Provided your country has something, it's relevant. With the deterioration of the US dollar and repeat of how Bernanke said " irrational exuberance", what could be the next excuse of the people handling the monetary system? Read some Harvard articles about such .
Did you know the connection of woke politics in the demise of SVB? Did you know the Green Politics is not embraced by Saudi? Why would they, when oil is their major industry. There will be countries that will be standouts because of a labor force who are literate. What good is there in the policies of the US under Biden with migrants that are not vetted.
Look at how Americans in Educational system are worse in math and science compared to its Asian counterparts. Somehow , USA raised a generation of Brats. It's just what it is, a void needs to be filled somewhere.
@Ted Tan
We liked Greenspans "irrational exuberance". In hindsight it covered what happened in the housing market, without him reacting. So, pretty ironic!
@@clementmpushe5957 I am no economist, but I think they are talking about a new reserve currency. As I understand it, a true reserve currency is accepted by the majority of nations. All nations then trade in this one reserve currency in order to simplify transactions between themselves.
You need a nation with a huge economic footprint to serve this purpose, and China is closer to that, more so than any of the other BRICS nations (although India is coming up). You also need a nation on a solid footing, no social unrest likely to destroy its government, etc.
Nations can always decide to trade with each other using their own currency. I think it is messy, as maybe you don't want to hold a currency of another nation that could fluctuate rapidly. As a nation, you would be holding value in nine different currencies--and dealing with fluctuating transaction rates and uncertainties in that nation. I think that is the value of having a reserve currency. That is why I think discussions focus on China.
@@cherfromtn8225
China : Knock Knock
USA: Whose there?
China: Its Xi, I come to collect your debt
USA: Oooops
Good job Joe keeping up with international relationships
😂😂
High level geopolitical analysis, no wonder the USA has been backsliding for 50 years with a populace so simple minded.
Joe is bringing doom
@@Redactedlllllllllllll the average American can only store memory for 4 to 8 years, afterwards it start to fill in the gap with imaginary filler. "Make America great again"
"Not a racist country"
"Minorities never do anything useful in this country"
It's really a problem....I think, can't remember
Lol for real. He's bad luck
USA Dollar is loosing it's ground to BRICS where many new members have keen to join soon including Saudi Arabia, Argentina,Egypt Vietnam,Indonesia
I thought Argentina was in a state of economic collapse.
@paulhank rather look at recourses of each country.
Hope Malaysia and Singapore will join it too since Malaysia and China has close relationship
And Algeria
@@vdm568 Doesn't matter if the industries established to harvest those resources are corrupt/owned by overseas companies.
They can keep their worthless currencies. 😅😅 The Bretton Woods agreement and the U.S. navy patrolling waters and guaranteeing safety passage is why the dollar is what it is. Those BRICS countries can use their own Navies to protect their own ships then.
childish reply the countries you are talking about have powerful and large navies very capable of protecting their own ships
Saudi Arabia and other Opec+ members should be a part of this as well to make it more effective.
Saudi did ask to join
Saudi already has an agreement with China to accept Yuan for their oil, and Iran as well
Is that why Indians beg for visas for Europe and US😂😂😂
@@unitycatalog Indians love white people
@@unitycatalog To get shot outta nowhere 💀
Time for US to concentrate on US.
Please god
Joey's doing a fantastic job 😂
Joey is having a meeting with Rashi Sanook
Sleepy Joe
They are not friends, they are not democracies, the only thing they have in common is the critique they get on how bad their people live (human rights, freedom, democracy,...) and they just want to be together out of negative reasons and with negative goals.
We have become the laughing stock of the world under this administration. However you feel about the guy, Trump would have NEVER let our dollar get abused like this.
Garbage. He is a crook and dumb. He bankrupts everything he handles and is responsible for this which started with Nixon
It’s been happening under trump too lmaoo. Brics wasn’t just born yesterday
@@MiddleKingdom305 BRICS is an acronym for the five leading emerging economies. My point has nothing to do with these countries alliance. It has to do with them undermining the value of the US Dollar without any action/reaction/preventative action from the United States. This is a form of Economic Warfare. This would NEVER happened under Trump. I'm a Democrat, I dislike Trumps politics. But the reality is, this Eco Warfare would not take place if Trump was in office and anyone who won't admit that is simply lying to themselves.
@@Official_Rekk I’m a Republican and this was happening under trump. If anything brics became stronger under trump because he angered China.
@@Official_Rekk lol this is the FEDS Doing. It has constantly made poor economic decisions. Powell is stubborn and so are the people who run behind the scene. As more money is being printed to save your precious banks, The fed has undo years of Quantitive tightening policies. Get ready for a weaker dollar and more people transitioning to other assets like crypto, gold etc. This has nothng to do with other countries but a consolidaton of power from the corpos to lauch the CBDC.
The precursors of the end time are here. Terrible times are ahead of us
Yep it's waxing worse and worse
End for whom
Yep moving closer to NWO …..
@@dingleberry4234 U.S. dollar. Mark of the beast. People forgot about the Bible nowadays
Well, the end of white time maybe?
Let them alone. Whenever it involves in a group of men and it is money’s concern, there will be big problems. Leave them alone they will bit one another.
Imagine all those leaders agreeing to something so important, and sticking to it.
This has happened because the US Federal Reserve has debased the USD by regular rounds of Quantitative Easing. The USD is rapidly losing its status as a reserve currency. The same happened with the GBP after WWI.
Just history repeating itself....
@@analyticalhabitrails9857 Not just in that way sadly. Look at the European Great Powers that created WWI by accident. They are all in play again with shifting alliances. Europe with civil wars and regional wars will eventually be engulfed. Not a nuclear war as everyone thinks but one of those bloody attrition genocidal wars. The Ukraine war shows us how it will go. The Balkans is the next to erupt. Remember the Archduke Ferdinand was assassinated in Sarajevo. Something like that will happen again, different but the same. Frankly, the EU is only a financial crisis away from the Euro falling apart and then Germany will leave the EU and the Southern states of Europe will implode. A Spanish civil war is never far away even now.
We only need our own AFRICAN currency period
...that no one will care about.
It's about who you can trust.
Absolutely no one
100% on point!!!!
Anyone but (((them)))
🇺🇲🤑🇺🇲
Exactly, would you trust CCP?
" we have been created into tribes and clans so as to recognise one another and not despise one another "
Looks like losers want to have their own club.
“Let faith oust fact; let fancy oust memory; I look deep down and do believe.”
@@ClownCarCoup so imagine a world of finance with a line " No Credit, in GOD WE TRUST, everyone else pays cash"
Yet faith tells me, there can be credit without interest, imagine that world
@@ClownCarCoup Mobi Dick
@@mobidick6064 Now step out of your fantasy world and put this to practice. You’ll be bankrupt and beggared tomorrow.
We haven’t been _created_ into tribes and clans, we’ve _divided ourselves_ into tribes and clans. Each with its own god to worship be that Muhammad, Jehova, Yahweh, Vajrapāṇi or money.
Start buying gold and silver instead of stocks. Change the way you invest
Good to see BRICS in one goal
The own-goal...🚮🚮
@@vwgti3414 OOOOOOOOOOOOOOOOOOOOOOOOOHHHHHHHHHHHHHHHHHHHHHHHHHHHHH
but not really its still a good thing to make a fair currency
Unless you're a female. BRICS is the economic equivalent of a rapist.
As the saying goes "All good things must come to an end" 😊
All bad things end aswell, in this case, its USD.
It served its time and purpose "There is a Time for every Activity under the sun.....A time to build up and a time to break down." So says God's Word.
The U.S. dollar dominance wasn't a "good thing".
@@BDRioga it was and is for those who benefited from it.
All good things must come to an end, but good for who? that is the million dollar question.
They have been talking about 'new currency' for a long time.
even the longest journey starts with a step and this is a step in the right way. They don't have to prove themselves to others infact so many countries are waiting to get on board and to say that this nations aren't a trading block its something you have to rethink. It won't take this giants long before they control the bigger portion of the world market.
THIS IS IT...BYE BYE US DOLLARS.....
explain how this is the end of the US dollar , since you seem so sure, you must be very educated!
I am just Tom & Jerry brader...🐈🐀
End of dollar monopoly has been started ..
This is the stuff that starts wars.
As much as I'm sad about the loss of the USD. I like seeing countries working together. I just hope it's for the best. There are many people within these nations.
The problem is the world is sick and tired of being bullied by the US empire.
@@burnerburner4074 As an American I agree. I have my grudges too. Dude I was led to believe Muslims were against the US, and Christianity was going to save the states. Like if Bush was Chosen for Gods master plan 😂
@@burnerburner4074 Idk I don't feel bullied by it.
@@GenericNameeee which country are you from?
@@GenericNameeee colonizees
If 90% of the world switches to a digital currency, then the dollar is not under threat. It has been shot in the head, multiple times.
The latest idea i have heard is alarming.
A digital currency that has an expiration date.
So you go to work, earn the money, and you have 1 month to spend it or it goes poof.
It regulates inflation and hoarders.
But what is so terrifying is, it eliminates almost all opportunities to climb in wealth. It upturns motivation, like an angry monopoly player.
Sounds like a Feudalistic society to me.
Democrats will love it.
Buy gold with your expired money. Not bad
Centralized digital currency should be rejected at all costs if anyone cares about any shred of freedom they have left for the 100% level of cotrol it gives govt anywhere.
@@movieinminutes1277 They will more than likely ban such purchases using CBDC, plus the possibility and likelihood that gold and silver will cost a small fortune, beyond the limit held in monthly CBDC accounts.
I think this is very good news for world development. The US should not fight change but instead try to improve relations
We Americans don't kneel to anyone!
I need a nap now.🥱😴
@@antoniodg2673 Yes it would be hard to kneel with both hammys shot,wouldn't it?
No offense but China has a looming debt crisis, the Russian economy is teetering as for South Africa...well...these nations will come back into compliance...just wait and see. Do not underestimate the power of the greenback.
@@chrisv.noire.6388 US debt is now 31T USD. China's debt is 9T USD.
Team dictators fighting back does not seem like good news to me
Destined to fail for a simple reason.... the construct is as stable as the life expectancy of each involved dictator....
I would recommend to call it the B-RISC-Dollar. .. or the TroubleRupee.
Yawn-yuan. There is no mortar to hold the brics together !
Yeah that will be a success. Anybody who really thinks this is going to be a success lives in fairytale world and doesn't know economics.
Well, they've been waiting for this for years I'm sure. Another reason why we need new leaders
We don't need "leaders" we need war against these leech ass parasites who control the world hidden like cowards
If I were the President of my country I wouldn't hesitate to join BRICS.
It's all biblical. Better be ready.
Amen.
Change is good than stuck in an suppression regime.
"Change is" BETTER "than" BEING "stuck in" a Suppressive "regime."
Printing USD a lot for inflation and Putting sanctions to other countries made BRICS to do this. This is really really 👍 great. India❤
I'm American and I'm scared that my currency is gonna be completely useless if this BRICS currency happens.
This isn't great
Why does she says "new currency"? The yuan isn't new. 🤦♀️
People's eyes have opened.The USD will never be the same again
The only country that matters here is China. All the others are laughable. The economy of the entire country of Russia is smaller than New York City. The fact that Russia was even invited shows its a dog and pony show. Further, every collaboration with Russia leads to abject failure from the ISS, to foreign investment in the country, corruption of their military, etc. Russia will botch this currency and sink the entire thing -- because they ALWAYS fail.
Nah, I think we should be ok
@@terranceaddison4599 ok? yay happy recession b*tch
BRICS is ready to cremate US Dollar Amen
I hope they do this new currency right and back it by gold or it will have the same issues
THANK YOU RAMAPHOSA👏👏👏👏👏👏 cause R18,00 a dollar is getting ridiculous
It was around R14 a loooong while ago, lol
Maybe it will be better
it seems to be about 14th meeting (june 22) but group footage seems to be from 11th (nov 19)?
It is also weird that India is part of the quad that contains china, yet at the same time establish this common currency with China.
That's called a secret player 🧠
@@e.h97 colonizers are crying 😂
@@e.h97 My question is
Do you identify yourself as a Trans male or Trans female ??
People of a country which doesn't even know what is there Gender ,
Are preaching other's 😂😂
@Seek The Truth thanks but no thanks
Its the charecteristics of an emerging multi polarity. The equations change very fast.
India's domestic GDP is around $12 trillion which is called PPP
Hmm, i thought it was around 10 trillion,
India is polluting the earth. It cant manage its own population nor particularly in relation to resources its wildly out of control almost to a lesser extent is China and Brazil isnt doing much better when their prime economic means was cutting down the much needed rain forest to do other industry etc.
Bravo Joe.. Bravo on your foreign relations ability.
This notion of military bases will be replace with humans as in migrants and immigrants....This notion of America,France and europe in Africa will assure the likelihood of migrant and immigrant rule in America, Europe and France.....period
Looks like we need to do a live aid concert for these lot 😂 get your violin outs guys
I think they will be successful in the short term but not in the longterm. I just dont see how these countries could trust and work together for more than a few years
They don't have to worry about that if they dont mix business with politics
Its not about trust, its about one common enemy, the US dollar and unnecessary inflation brought due to dominance of USD, apart from BRICS currency, each BRICS country has already started settling their trades in their own local currency.
@@keirenle unfortunately the reality is that buisness AND politics are interconnected and intertwined. They are two faces of the same coin so to speak.
You can’t do business without tapping into politics one way or another. You cant have a prosperous business environment without stable political landscape.
Just as you cant have a stable political environment without profitable economic and business landscape. So while the Bricks currency ( backed by real commodities such as gold …because without it its just another fiat) sounds promising there is a lot more to that then just words. It will take real dedication and compromise for all these countries to work together and put their differences aside.
While this of course is possible, the human nature tends to screw everything up.
So yea, i would believe it when i see it actually working.
They don't have to worry about that if their currency is backed by commodity, which the USD isn't. How can you trust a reserve currency when a single country can print it into infinity or weaponized it by whim.
@@jdg7327 Well that's true, BUT, again...just "saying" that a said currency is "backed by gold" is NOT the same than actually backing it by gold. To actually do that would imply a whole array of new laws and regulations and monetary policies. So far its just words. Yes they start to trade commodities outside of us dollar but that's not the same as backing their currencies with gold ( or other commodities ).
The currency is gold back do we have any idea if anyone confirmed the gold is there?
Russia, China and India have largest gold reserves. I don't know it matters or not but India as country hold 10-11% of world gold and recently India found new big gold reserves.
@@Rohit_0.552 India has a massive amount of gold. But you can check inda's books. You can't check Russia and Chinas. We have no idea if i moved we have no idea if someone stole it. We have no idea if it's still under there name at other places. We have no idea if most of it will be seized as war reperations. That's the problem with dealing with Russia and China. most of there econ is very opaque even to the people running the gov. It's why hate when the USA puts more and more road blocks to the books. Like is happening in some right wing states and left wing states. It sets up lies and lies build false answers. False answers make for more mistakes.
Not good idea to have a BRICS currency. Just use Gold standard & individual currency for BRICS. Look at Euro, it failed because various country financial strength is different. Weaker country will have a hard time catching up with stronger country.
Not good keeping USD's ... that's even worse. USA never pay their debt, they just print off more USD's diluting the value of the USD for every other country ... AND ... USA just switch off a Countries SWIFT account so their billions of USD's is frozen and the cant trade, if USA decides they don't like a Country's Government of their life styles. WTF!!!!
The cashless policy and practice is to ensure the no buying & selling part of the mark of thebeast which is out now as the c19 💉❌🧬.
Put your house in order, Jesus returns no more time.
Jesus comes. Repent and ammend your ways. Put your house in order. No more time. Don't take c19💉, it's the mark.
There are signs in the skies. Lk.21:25
The 💉tech is in the air, water, food, mosquitoes, cover up with THE BLOOD
Most currencies are named after a unit of weight, for example pound, lira, etc
I'm looking forward to the day when we trade in grams (Au) - the scientific international standard
Drug dealers got you covered
@@Sernival smart one 🤓
its gonna be probably in silver because most of people can afford it, just like in the past
I just wonder how long this alliance will last before greed and political influence gets in the way? As it stands, we all know who is king, but forging ahead into a collaboration with countries that historically have been at odds with each other... well, we'll see how it plays out.
If the purpose of an alliance is for ease of trades, reduces risks, and saves money for both parties involved. I can see its values. Learned from the USD and don't mix business with politics. It will be fine.
Historically have been at odds, who?
@@HemantKumar-id3jg China India and Russia. Looks like China is playing all sides and will come out victorious.
@@MiddleKingdom305 Actually, China and India have coexisted peacefully since thousands of years. The conflicts are very recent starting from when China took over tibet that directly borders India.
eventually nations will start blaming the others for not pulling their weight or dragging down the value of whatever currency they agree on. It will implode.
Why do Americans keep saying the dollar is in a threat....? Changing trading currency is just good for those that don't want to use the dollar
This is their privilege, wish them well. Run your country the best way you see fit, we will do the same. Peace & blessings from USA.😊
LOL! You know the US can't have that...they can't be upstaged or need to have their hands in everything.
us elite and secret societies controlling it all through the world economic forum.. Brics is nothing but a trojan horse to collapse dollar and enslave all these countries in CBDC, in preparation for a one world government, religion, and digital currency to force an orderly ext3rmlnatl0n on humanity
Yeah it’s all peace and love until we have another depression. War time possibly?
when the US govt is 34 trillion in debt and Biden giving away free money..... the US is done
When currency is changed as they did in Italy from lira to euro, people lose out…
Toni Dantonio? I went to school with a guy named like you...north Italy, late 90'S
I'd like to see a reunion here 🙂
Germany didn't
@@AM-gc4yd I’m a girl lol. Toni with an i is a girl. Tony with a y is a boy. 😊
The BRICS nations are not changing their own internal currencies. India will still use the Rupee, China will still use the Renminbi, etc...
The new currency is meant to be a MEDIUM of conversion and trade BETWEEN currencies/countries.
Because its value is likely going to be based on a basket of commodities (like gold/minerals) the value of this new currency will be VERY stable, and not subject to arbitrary actions of any one nation (UNLIKE the USD).
Nations will also begin to gradually use it as a RESERVE CURRENCY - since it will be highly stable in retaining value - where they can keep funds safe for a rainy day, to buy oil, gold, lithium, coal, or whatever they need to import in a time of crisis when their own currency's value might be depreciating (replacing the USD currently used for that role).
This means that the conversion rate between the Rupee and the Renminbi is not going to wildly vary on any given day, and the govts of these respective countries will have a huge amount of control over the value of their own currencies, and make international trade much more stable and less subject to the whims or disasters of ONE particular country.
A stock market crash in China or Brazil or USA will have far less impact on other nations, and will be unlikely to precipitate a global crisis, just because one big bank in the US/China/wherever failed.
Moreover, without any single country controlling the value of this currency, there is little chance of it being *unilaterally* used to isolate or dominate other nations.
The US in particular also exports all its inflation to other nations every time they crank up the printing press. Americans experience a tiny fraction of the inflation, while EVERY other currency is BURIED when the fed decides that printing more money will solve the problem.
So you can see *why* this idea is so attractive to many nations.
They get more stability and control, and are no longer subject to American whims / disasters / policies / moneyprinting.
Don't know how joint currency works but as long as it's not the same as the US printing unlimited USD, it shouldn't be that bad.
It will be same like Euro imo but unless it is backed by Gold, it will be detrimental like USD
@@LifeandLiving778 Is EURO backed by gold?
All BRICKs nation prints their currency in way bigger relative quantities that us. Common currency requires common trust among the joining nations. BRICKs are some of the most corrupt nations.
@@Keeeeeb nope. Inr is backed by gold and even rubble will be backed by gold asper Putin. What I mean to say, BRCIS WILL DEVELOP SOME COMMON CURRENCY TO TRADE LIKE EURO BUT SHOULD BE PEGGED BY GOLD
@@LifeandLiving778 it will be nothing like euro .
Currency value should be linked to precious metals or black gold (oil). All other currencies are subject to misuse.
Prof.Quelsh noted that foreign states won't to depend on the decisions of the US Federal Reserve in their international economic and trade relations. I would say the main argument of countries trying to create an alternative currency to the dollar is not Federal Reserve but the use of policy of sanctions pressure on other countries. From the moment the US began imposing sanctions on other countries, they began to dig a grave for the dollar and now it is only a matter of time before it is finally buried. What goes around comes around.
You're wrong, they dug a grave for the sanctioned countries. Russia is a broke shithole now that has to beg China to finance them. You couldn't be more fucking stupid.
I guess this is what old joe was talking about when he said we shouldn’t do well financially while everyone else does bad. Its all orchestrated. Its also not bad for the world.
I really hope that this BRICS currency succeeds and it ends up being backed by gold or silver.
Right now, every piece of currency is printed out of thin air and loses it's value over time. Not only that, but inflation comes with it too, making every currency (euro, dollar etc) worth less and less.
I really hope that BRICS succeed and it is backed up by gold/silver.
Brics doesn’t exist in China. You don’t agree with what the local gov is doing, boom you have no money in your account. It’s supposedly back by gold right? Yet it’s digital, and they can take it when they want
not just gold and silver but mostly any commodities like real actual things not "trust" thats hard to come by these days
It will only bolster socialism and communism
@@siliconhawk True! Very true.
It is so sad what happens with the dollar. It becomes less valuable and more inflationary.
And euro too. All these fiat money are losing value and power..
Here where I live prices went crazy. Everything increased.
I hope that this BRICS initiative succeeds. I would like to have money that actually has some value. And less inflation please 😇🙏
Hopefully it's not copper with a gold coating.