A new BRICS currency?

Рет қаралды 1,272

Күн бұрын

Пікірлер: 13

@martinbowman1993 11 ай бұрын

I think it's about cutting America out of the finical equation. When China and Brazil trade they don't want to include America in the trade.

@BrianUrlacherPoliSci 11 ай бұрын

Yep, that is my guess for where it will land -- a closed financial network rather than a rival currency.

@evgeniakotsifos7878 11 ай бұрын

A golden BRICS token, and then each country pegs it’s currency to this golden token

@hanakm140 11 ай бұрын

👍🏽👍🏽

@marshalllapenta7656 11 ай бұрын

If I had to guess I wouldn’t say gold. What if it’s oil? Is it going to be centralized? Not to mention what’s chinas role?

@martinbowman1993 11 ай бұрын

They could also just call it a trade credit that is used to settle accounts and give it a floating value. The problem with using a commodity is that the commodity is of limited supply which means it limits the available units of account for trade.

@HGB987 11 ай бұрын

What people are failing to understand that non of the BRICS Countries other than China can provide the liquidity if BRICs currency is established. In addition gold and other commodities prices will be controlled by US dollar as European markets and gold mining companies depend on US Currency. It is not about the population, it is about the liquidity and fluctuation in commodity prices if BRICS CURRENCY IS backed by GOLD. In this case, China will increase loans for BRI initiatives at higher interest rate bankrupting BRICS countries with loan servicing. Look at Srilanka and Pakistan - both are in China’s debt trap. Other risks are, US dollar is not backed by anything so they can print and increase liquidity freely. US has enormous reserves pure gold and it can Dump gold reserves to bringdown gold prices making BRICS countries , except China, economies worthless. Russia will also get doomed. Buying power of BRICS countries is much leas than Buying power of USA, Canada, Australia,Japan and Europe. Tarrifs AND sanctions can hit BRICS countries with a devastating effect on economy and population. No matter how you look at only China will benefit with BRICS currency and rest of BRICS countries will suffer. We have to think of improving individual countries liquidity, resilience to tariffs and dependency on west for imports and exports first then embark and a BRICS currency

@tombouie 11 ай бұрын

Thks buts sorry; I understand Good-O-Fashioned barter but modern/academic economics makes no-sense to me & makes my head-hurt. On another subject ?could you contrast classic economic theory (aka laissez-faire darwinian) vs keynesian economic theory? Thks

@BrianUrlacherPoliSci 11 ай бұрын

So that is a pretty huge topic to summarize. I'll do my best, but I'm just scratching the surface! During the Laissez-faire era there was a broad sense that markets were efficient (and possibly moral/just), and that government should let markets work without trying to guide them or correct them. Unfortunately, the absence of government regulation and a deeply flawed monetary system led to extreme boom and bust cycles. Keynes’ big insight was that boom and bust cycles could be countered by government fiscal policy. Governments could use taxation when the economy was booming to slow growth and then “spend against the wind” during recessions to speed economies through recovery. By the 1970s a new school of thought -Monetarism--argued that Keynesian economics was useful in countering massive recessions but for the day to day steering of the economy, the Federal Reserve’s power to set interest rates was a more delicate and precise tool. Higher interest rates would slow economic activity and reign in inflation. Lower interest rates would spur more economic activity but would put more money in circulation and if not used judiciously could lead to higher inflation.

@tombouie 11 ай бұрын

@@BrianUrlacherPoliSci Thks for taking the time for a thoughtful/enlightening reply; It seems keynesian economics & fed interest-rates are the bestest combo between psycho darwinian/eugenic capitalism (ex: Libertarianism prior to Great-Depression) & centralized state ownership/planning of every damn-thing (aka thems-theres damn-commies). More importantly keynesian economics seem to used capitalism as just another means/tool toward greater/more-important ultimate goals of soceity (instead of a panacea/end-in-itself like-in most classic ism/ideologies & religions). Justs-maybes, economics/globalism is not just an evil Illuminati-cult after-all (go-figure ;). I still would prefer much more of a barter economy & less of a money/currency economy though: Advantages and Disadvantages of Barter System aspiringyouths.com/advantages-disadvantages/barter-system/