1 sat \ 8 replies \ @kristapsk OP 9 Nov \ parent \ on: The BRICS Are a Scam and Will Never Beat the Dollar econ
Biggest of BRICS currencies is CNY and it's irrelevant at global scale.
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10 sats \ 7 replies \ @Rothbardian_fanatic 9 Nov
If they start backing it with gold, silver, BTC and oil, it will be the most relevant. With the SWIFT system being shut out of BRICS or becoming just another choice for transfers, I think the dollar will be toast and all the treasury bills dumped like hot potatoes.
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0 sats \ 6 replies \ @kristapsk OP 9 Nov
If they start backing it
They won't.
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0 sats \ 5 replies \ @Rothbardian_fanatic 9 Nov
OK, I take your word for it, not theirs.
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0 sats \ 4 replies \ @kristapsk OP 9 Nov
theirs
Has there been promises about unified currency backed by something?
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0 sats \ 3 replies \ @Rothbardian_fanatic 9 Nov
Not yet. However those countries have been buying gold and have the commodities to commodify their currency.
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0 sats \ 2 replies \ @kristapsk OP 9 Nov
Doesn't mean they will.
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0 sats \ 1 reply \ @Rothbardian_fanatic 9 Nov
It, also, doesn’t mean they won’t.
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5 sats \ 0 replies \ @kristapsk OP 9 Nov
Common sense says it's less likely they will than they won't.
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