45 sats \ 9 replies \ @0xbitcoiner 9 Jul \ on: BRICs Currency: Can Gold Close The Confidence Gap? econ
I don't think the BRICS currency will ever happen. Why? No one trusts each other to keep the money safe. It's a great idea on paper, but in reality, it just won't work.
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That's why they need BTC. After they do it, we will jump on the bandwagon too. (end of dream :-))
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I believe that gold alone will not be sufficient. Who guards the gold? How do they mutually control their reserves? It is difficult to find a solution that everyone will accept.
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So, it seems to me that Brazil and India are about to be excluded. Will China 'control' Russia? I think this is doomed to fail, at least in the way it's being planned.
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I don't have any specific information, but we all know the history of China-India relations. Do you think India would trust China to lead and safeguard their gold?
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There must be some solution, and I think it could be what you're saying, but I don't believe they'll reach a consensus anytime soon. Only time will tell!