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193 sats \ 6 replies \ @TomK OP 29 Dec 2023 \ parent \ on: BRICS Expansion: A Powerful Energy Bloc Assumes Shape news
Yes. But before they'll go back to antiquity with a wholesale currency backed by gold
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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 ;)
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31 sats \ 4 replies \ @TomK OP 29 Dec 2023
But it will be backed by energy. Could be different
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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