It's probably fantastic for the dollar longterm, because the quote price of bitcoin (USD) is permanent. The folly of a gold backed/tied currency is that it's like cotton-backed Confederate money. Firstly, if bitcoin ever flips gold's market cap, you'll be a nation with a weaker commodity backing your currency, which then allows the Union to set fire to you by colluding with allies, building up a London Gold Pool 2.0, and drip-dumping their gold on the open market destroying the premium permanently. And because of bitcoin's hard money principles, any country or citizens' attempt to flee to safety or exit this fire via bitcoin with Gold/BRICs will lead to a more dramatic spike in bitcoin's price making things even worse for them.

The second stupidity is that the BRICs, hellbent on losing the 21st century, think that tying their currency to the price of oil/gas is a good thing. The petrodollar is only viable if fossil fuels are the fastest expanding form of energy, because any expansion in energy is necessarily an expansion of the USD. Unfortunately for the one person government loving BRIC nations, green energy is the fastest expanding form of energy, and the bitcoin network uses electricity. Also, the US annual military budget is falling, not rising. Too, BTC/USD is a pair, not a peg. That pair will eventually take out the darling of Forex (EUR/USD) trade volume, and destroy anything in its pathway. Lastly, the article says Mexico will join the BRICS? LOL.

This article was also featured on ZeroHedge:

"We Made This Bed, Now We Have To Lie In It" - John Rubino Warns New BRICS Currency Is "Bad For The Dollar" https://www.zerohedge.com/geopolitical/we-made-bed-now-we-have-lie-it-john-rubino-warns-new-brics-currency-bad-dollar