pull down to refresh

51 sats \ 7 replies \ @jk_14 29 Dec 2023 freebie \ on: BRICS Expansion: A Powerful Energy Bloc Assumes Shape news
They don't trust each other (e.g. India vs China) and each other's currencies. That's the real obstacle here
There is only single available solution here and its name is: Bitcoin :)
write
preview
this territory is moderated
193 sats \ 6 replies \ @TomK OP 29 Dec 2023
Yes. But before they'll go back to antiquity with a wholesale currency backed by gold
reply
35 sats \ 5 replies \ @jk_14 29 Dec 2023 freebie
Bretton Woods (i.e. between countries that theoretically had a "trust" to each other) - assures us that in case of BRICS their potential gold backed currency - will be a very short-term episode ;)
reply
31 sats \ 4 replies \ @TomK OP 29 Dec 2023
But it will be backed by energy. Could be different
reply
0 sats \ 3 replies \ @jk_14 29 Dec 2023 freebie
please be serious... ;) BRICS issued paper money "backed by energy" - will be like Petro in Venezuela: https://www.fintechnexus.com/venezuela-petro-cryptocurrency-backed-crypto-the-petro/ I give them not more than 5 years, too :)
There is only single currency in this world that is backed by input energy: https://medium.com/capriole/the-energy-standard-b726edeed588