21 sats \ 8 replies \ @Satosora 24 Jul \ parent \ on: The American tradition of abolishing central banks econ
Right, the people in charge want to keep the power. But soon, the USD might not be the reserve currency. BRICS might be taking over?
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20 sats \ 7 replies \ @Undisciplined OP 25 Jul
I don't think BRICS will take over as the reserve currency globally, but it may displace the dollar in a large portion of the world. We just wouldn't have a global reserve currency, then.
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21 sats \ 6 replies \ @Satosora 25 Jul
I dont feel BRICS will get anywhere. China's economy is going down....
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20 sats \ 5 replies \ @Undisciplined OP 25 Jul
That's largely how I feel too. The question is just how far BRICS makes it before it fails.
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21 sats \ 4 replies \ @Satosora 25 Jul
I feel that they are going to start strong, then they are going to lend too much money. It will just collapse on itself.
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20 sats \ 3 replies \ @Undisciplined OP 25 Jul
It'll have the same poor incentives as the EU, but with much worse actors who have no cultural or geographic ties to each other. I expect it to fail much faster than the EU is.
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21 sats \ 2 replies \ @Satosora 25 Jul
Im betting the incentives will be worse. The countries trying to get in are not the most stable. And its not like they have strong ties with each other, or trade agreements.
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20 sats \ 1 reply \ @Undisciplined OP 25 Jul
Good point. The incentives probably will be worth, because there won't be even as much accountability as the EU has.
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0 sats \ 0 replies \ @Satosora 25 Jul
Yes, but who will be in charge? Can you really trust China and Russia to be in charge of the bank?
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