BRICS nations announce plan for joint currency
2024 ж. 16 Мам.
1 391 527 Рет қаралды
Prof. John Quelch discusses the BRICS nations announcing their own currency, in a bid to break away from the US dollar.
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It's time for the BRICS - New World Order to establish a default reserve currency or consider returning to the gold standard. Dealing with daily fluctuations in exchange rates for each country's currency would lead to excessive chaos.
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One factor I noticed when it comes to currencies is that if it's accepted and agreed upon, then it has value! Thanks to Brenton Woods, the U.S. Dollar became the most accepted currency in the world. The U.S. was able to take the dollar off the gold standard and still remain the most used currency due to its link to oil and other factors. However, an organization that's originally founded as R.I.C. (Russia India China) grew as B.R.I.C. when Brazil joined and then became known as B.R.I.C.S. once South Africa joined. I suspect that if all member nations agree to accepting this new currency as an accredited currency similar to the U.S. Dollar, then the new currency will ultimately replace the dollar.
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It's interesting to learn more about the discussions and proposals around BRICS nations and their potential use of gold. There are several reasons why people may choose to buy gold, including its historical use as a store of value and means of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities.
Additionally, gold can offer diversification benefits to investment portfolios, as it tends to have a low correlation with other asset classes like stocks and bonds. However, it's important to note that investing in gold carries risks and may not be suitable for evervone. and investors should carefully consider their investment objectives, risk tolerance, and financial situation before making any decisions
However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subject to numerous economic, political, and logistical considerations.
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BRICS wants to build a new currency. It is also worth noting that gold has historically been used as a store of value and a means of exchange, and some countries still hold significant amounts of gold in their reserves. However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subject to numerous economic, political, and logistical considerations.
It's interesting to learn more about the discussions and proposals around BRICS nations and their potential use of gold. There are several reasons why people may choose to buy gold, including its historical use as a store of value and means of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities. Additionally, gold can offer diversification benefits to investment portfolios, as it tends to have a low correlation with other asset classes like stocks and bonds. However, it's important to note that investing in gold carries risks and may not be suitable for evervone. and investors should carefully consider their investment objectives, risk tolerance, and financial situation before making any decisions.
Investing in gold is a reliable choice, and I plan to keep buying more to make up for my losses. While silver is also a good investment, my collectibles are not as similar. It's important to have clear investment goals and educate yourself on the type of investment that interests you. I work with Natalie Lynn Fisk, a financial consultant regulated by the SEC, and started small, but eventually accumulated almost $820K.
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If the countries of the world are willing to throw away the USD in favor of other currencies, it means that something is wrong with the USD. The US has abused the USD as the world's reserve currency, and the world is sick of it.
US dollar is killing the whole world
lol if you think a petro yuan is going to "not," be abused.... youre insane.
Pretty much it, it's time for the US to step back once and for all. Bye
@@ezswan6880 Then the petro yuan will end too. It is just a mathematical algorithm and nothing more. Abuse your currency and you get distrust and inflation. Simple as that... just math. But I believe they will do something else. They will create a finite resource backed currency that will be governed by an internation institution, which will make it a lot more reliable and non abusible. We'll see what happens next.
Funny joke there buddy. The BRICS nations are not the bulwark of morality, lol. Nothing is happening to the USD either, it will be at the expense of GBP/Yen and Euro over the USD.
BRICS seeks to create a new currency, considering gold's historical role as a store of value and medium of exchange. However, the functionality and acceptance of a gold-backed currency in the current global financial system are uncertain. Creating a new currency requires careful consideration of economic, political, and logistical factors.
The discussions and proposals surrounding BRICS nations' potential use of gold are intriguing. People choose to buy gold for various reasons, such as its historical role as a store of value and medium of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities. Gold also offers diversification benefits to investment portfolios due to its low correlation with stocks and bonds. However, investing in gold carries risks and may not be suitable for everyone. Investors should carefully evaluate their objectives, risk tolerance, and financial situation before deciding.
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My dad told me about this 10 years ago and it's now happening
Good dad you have.
Therefore, without the GOLD STANDARD BACKING Amerkca's dollar note as designed, america's notes will be less and less valuable until its just as good as fuel for burning wood, or confettis!
It's not happening though, and probably never will.
New world order in full affect, anyone who knows the end of their plans know it’s the end days… biblical days, Jesus return
@@sammalama naysayers species have been proven wrong again and again
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Gold & Foreign Value Stock
He conveniently ignored the part where US continues indiscriminate printing of USD to fund Wars n distribute among its people thereby reducing the purchasing powers of other countries holding USD reserves
Which is why ppl buying from china😂
US also uses the dollar to export inflation to other countries, many countries' government are on the edge of bankruptcy because of that.
Additionally, the US dollar funds an apartheid government.
@@eliso5973 that's what he said already
@@redpillscience1288😂😂😂
Good thing about Brics is that the currency is backed with gold, unlike US that prints and creates high inflation.
well.... how well is the euro dollar working for some countries? the smart countries stayed away from the euro. norway, switzerland and the UK when they were part of that disaster. and russia is involved in this? good luck.
@@nickyalousakis3851Its a matter of time before the US dollar collapses
The US has more gold than the BRICS countries combined
@@hoooptie lol . Do you ever googled it. Indian woman have more gold than US and EU combined. And according to Indian law everything in india is owned by government
Why these Brics assume they’re the only ones who has gold and minerals? When sh!t goes down US will sit back and watch Brics turn into Bricks and Rubbles. Africa will be raped by 100 million Chinese because they will owe so much money because they want to build TOFU infrastructure.
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Get out now, and put where the Fed has been putting theirs.
Brave step to launch a common international currency
More than a dozen countries are lining up to become a member of BRICS albeit it will take years to complete. The common currency once created within BRICS will be a game changer in world economy and order.
Finally, some countries are waking up for a brave new world order. But I will never give up my cash money for buying my needs.
They are meeting here in my home city , Durban, South Africa in August. I think that it's going to happen very soon.
It will take less than 10 years. BRICS is developing a basket of multiple currencies, not one imperial currency.
@@heinrichvisser8518 Dit gebeur in Augustus mnr Visser. Can't wait!
@@AnneliedeWet hier in Durban. Kan ook nie wag nie. Ons beweeg weg van die boelie af.
Not to forget about Iran, Saudi Arabia and Malaysia are now wanting to not rely on the dollar that much
Yeah Iran and Malaysia. Good luck with that. Don’t forget that SA is under protection of the US.
@@jvb4450 protection from whate 😂
@@jvb4450 Don't really know about Malaysia but if you watch the news SA started move away from USA since few months ago and that's not even secret
@@jvb4450 Protection from what?
@@silverray7 aliens lol
This is the stuff that starts wars.
The scary part is OPEC+ is also planning to join brics... it will take time of course but Brics is turning into a force to be reckon.
Just in time for oil dependency to be a thing of the past thank god. OPEC's a criminal cartel anyway, the idea that countries can limit supply to manipulate the price is ridiculous, just imagine the outrage if countries growing wheat did the same (or any other staple for that matter, and at the moment oil is a staple for any modern economy).
We in the EAST is done with ur bloody western hegemony. No more monopoly and unipolar world!!! We manufacture and u guys use ur bloody fiat currency to buy these!! No more!!!
@I Laser you have no idea the amount of goods required through oil half of the renewable production comes from oil. You obviously didn't learn too much in life. Rubber tyres plastic gas lighter fluid oils nearly every single plastic comes from oil your kettle to your stereo phone electronics require oil to make procceors so many things will stop if oil stops our whole life. Unfortunately, solar wind is not a base load it is not reliable as in not 24 hr. It is up and down.
@@ilaser4064 that happens all over the world and not just in oil. wto cant sue opec because all major countries are doing it in various commodities
@@ilaser4064 LOL ima stop you right there bud. Unless you’re coastal and can afford hydro plants to line the shore. You aren’t going to generating the power needed to charge all those EVs. Let alone plastic, that thing that everything is packaged in, including but not limited to medical and other one time use/must be sterile products. Yeah that’s a by product of oil refining. So what’s your suggestion for literally every industry? Since they’ll be without their containers and wrappers. Oh not to mention, the power grid is outdated as all fuck, gonna need to update the entire grid for EVs to work for everyone. That’ll take something close to 200yrs. Sorry but you bought into a shitty idea, not to mention that the RnD that has gone into coal scrubbers for plants, they scrub roughy 99.9% of all emissions. Oh and since tech is advancing so quickly, there’s these machines called air miners, they pull the carbon right out of the air and materializes it. This completely makes EVs pointless. We can now literally use the fuel and pull it right back out of the air. Now this tech is a little off from being efficient and mass produced but give it about 10-20 years and it’ll be a much more normal thing. That alone makes EVs pointless as the money that needs to go into fixing out power grid although needed, isn’t going to happen in our lifetime or our kids lifetime or even our kids kids lifetime.
US overprint of the dollar resulting in high inflation caused BRICS to find alternate currency for financial stability
Fact!!!!
Also weaponize as per it's wish.
That was a part of it. The US Sanctioning russia to the point that they forced them to go to china is what did this.
The last nail in the coffin is banning russia from using swift and hold their legal assets without legal trail. Its some dikhead come and seize all your hard-earned money. So India started a new vostro accounts now countries can just trade in their own currency with INR as a pair no need of dollar. US messed up the US dollar
Doesnt mean its going to work though wawawa
Makes sense. Why should 2 sovereign countries use the currency of a third country that is not involved in their trade.
Having a common currency might not be a great idea. We need to have clarity on multiple things. - Does these BRICS has any charter for common goals and shared interests? EU is group of countries in one continent. But when countires from differnet continents are part of the group what additional challenges can come to play? - If sanctions are imposed on any country within BRICS how rest in the group should deal with them? - If any country goes bankrupt or has high debt would they become burden on others? We have seen in EU how some countries defaulting has caused problems for others. - Incase a country goes to a war, or goes bankrupt how it will affect others? - We have a country like China which is highly unreliable and not transparant. They may not honor all the agreements. So who will penalise them when found guilty? - If currency is same would that encourage free movement, allow people to do jobs in the other countries just like EU? If not what is the point in having this common currency? How will we benefit with it? - If any member country is involved in terror funding, how that will have to be handled? Would this common currency help terrorists for their activities? - If one country in the group is in favor of any war and other is not and currency is same what would be impact? Without having clarity on all the fronts India shouldn't vouch for this. Obsession to repalce US dollar shouldn't land us in new problems.
INDONESIA and SAUDI ARABIA could also enter the BRIICSS nations
They are in the process of doing so
Brics +
As an Indian we welcome them 🙏🏻 🇧🇷🇷🇺🇮🇳🇨🇳🇿🇦
This is the start of the devaluation of the US dollar, many countries have been bullied enough and are looking at an alternative where they could well get a better deal and have more independence in currency exchange. ASEAN now wants to do trade in local currencies. The US dollar has run its race
That would ruin the name.. BricsISA doesn’t sound right
The entire africa is shifting to BRICS currency
The entire *continent ??
lol you clearly dont know what you talking about how can the entire Africa shifting to BRICS currency when 1/3 of them is using CFA franc
@@khanhnguyen-tt3ff the trend is baked in.
@@khanhnguyen-tt3ff do your research on tiktok, youtube Nd you will realise that everyone is talking about reducing the use of USD ... Am live in africa and everyone around is in support of BRICS
No only 5 countries, they have no clue what they talkimg Russians are stop using Dollars sine 2008 and switched to Gold same China
No the Dollar is not under threat. May be for specific items they can make a deal but the US is the major developer/innovator and needed around the world.
it seems to be about 14th meeting (june 22) but group footage seems to be from 11th (nov 19)?
It's not about the money it's about the message
The cashless policy and practice is to ensure the no buying & selling part of the mark of thebeast which is out now as the c19 💉❌🧬. Put your house in order, Jesus returns no more time. Jesus comes. Repent and ammend your ways. Put your house in order. No more time. Don't take c19💉, it's the mark. There are signs in the skies. Lk.21:25 The 💉tech is in the air, water, food, mosquitoes, cover up with THE BLOOD
yap, and it was sent!
It absolutely is about the dollar being the reserve currency. WHEN it no longer is the reserve currency…….USA WILL NO LONGER BE ABLE TO SANCTION other countries it doesn’t like or agree with. THIS IS HUGE…….and about time too
No. It’s obviously about the money lol. And power
No matter what the message, people should actually know who is going to have the last 😂. I mean look at the leaders of the brics, 😂😂😂😂. All of them are dictators. Let just history talk.
Other 53 African countries need to join this group and the game will be over
60%+ nations reserve still in dollar... maybe in few decade... the effect will be ..........
@@ejs7861 right now you can't find dollars in Kenya. They are promptly getting rid of them. You'd be surprised how fast his could go, especially in africa which is tired of the condescending attitude of the west.
@@NshutiFabrice-dp5li nothing going to happen
This guy is not well informed on this. There are many nations waiting to join BRICS. The African continent can use gold. As it currency. But the dollar is over as far as a main international currency. It's going to really start showing up here as an economic effect in a couple of years. When Russia takes down Ukraine its status in the world will go up. It defeated the US lead NATO grew it economy, caused economic problems for the US while doing so. And started to turn towards the east abandoning the west to the failing US and European economies. So BRICS will become more appealing to countries tried of the west worlds mess. East vs west but the west is mainly the weaker US and it satellite Europe which can't produce it own energy,but the east can produce all it needs. So you see the real situation is not good at all for the western world. America will be like England during the beginning of it post colonial era. To a fully used to be state. With only it military an older population, aging infrastructure,and an over severely retracted economy . And less people because people aren't having enough children to maintain the population base. But they're not say all that at once. Lol The news media will play this down till it's to late. And it has already begun.
BRICS welcomes Africa 🙏
They are not friends, they are not democracies, the only thing they have in common is the critique they get on how bad their people live (human rights, freedom, democracy,...) and they just want to be together out of negative reasons and with negative goals.
They have been talking about 'new currency' for a long time.
"U.S. finance is sufficiently democratic and transparent"? So why do you think they decided to form a group to abandon the US dollar?
It isn't just the transparency or the democratic basis of the currency that is the major problem, it is how the US weaponises its currency to further it's political agenda. The rest of the world is fed up with it and is looking to set up a more respectful and equitable status quo.
oh you see the evil countries are mad at the US for being so good and pure of heart that's why
He must be lying through his teeth
You still believe the words coming from the Communists mouth? Just look at how Russia treats Ukraine
Look up how their currencies have preformed against the dollar over the past five years and you will have your answer.
Transparency? Democracy? Threat? Are you kidding yourself or us?Explain SVB rescue to us people, coz we don’t see transparency here at all!
Gavin Newsom and his Chinese depositors is the reason SVB got bailed out.
The cashless policy and practice is to ensure the no buying & selling part of the mark of thebeast which is out now as the c19 💉❌🧬. Put your house in order, Jesus returns no more time. Jesus comes. Repent and ammend your ways. Put your house in order. No more time. Don't take c19💉, it's the mark. There are signs in the skies. Lk.21:25 The 💉tech is in the air, water, food, mosquitoes, cover up with THE BLOOD
I spit out my drink when she said because of our democracy.
@@ricosauve5 western NPCs like to add democracy and Human rights to every single thing they are against.
Gold is a ancient relic. We got Bitcoin and distributed blockchain now. No bank account and no permission to use it. Glorious future 😊
Currency value should be linked to precious metals or black gold (oil). All other currencies are subject to misuse.
Start buying gold and silver instead of stocks. Change the way you invest
India had already started trading in Rupee with multiple nations already …. US is trying to dictate terms due to dominance of USD which is not in favour of many nations
India and Pakistan along with China are doomed look at there population growth sickening . Hey Putin let em live in Russia hope they like minus 50 plus weather ..
Where you got this information, can you please share the source.
@@zaheer855 Just watch BRICS and BRICS plus meetings. India trades with Rupee with South Africa and Brazil. Also trade rupee with Middle East and other close allies of India.
@@zaheer855 kzhead.info/sun/YNNvZMuRqqhnqIk/bejne.html
@OddPotato also India and Japan have agreements in rupee-yen loans for each other. To reduce the burden of dollars in loans.
Being overly dependent on American currency also subjects other countries to our policies and threats. We tend to use our dollars as punishment for other countries' behavior, as most recently seen with our shutting off commerce with Russia, which hasn't been very successful. Oil is at the heart of most of it, and gas. I think for Russia, the blowing up of the Nord Stream pipelines was the last straw. We have taken advantage of our standing in the world, and have ravaged countries that didn't comply with our demands about the oil and gas. It is only expected that other countries would make other alliances for oil, gas, monetary exchanges and imports/exports.
What's all this "we" stuff? The parasitic psychopaths who control this country are soley responsible for everything.
I hope St. Petersburg is treating you well.
@@decekfrokfr3mdx haha Anglo skum
America meddles in every war and has army bases all over the world. Evil America. If I were Putin , I would Nuke America for zwhat we have done to the pipeline alone , meddle in others war ? Nuke time
Yes, we've done this to ourselves. The people who run our country, though brilliant, have acted stupidly. They assumed they could step on other peoples without consequence. Lesson learned.
This has happened because the US Federal Reserve has debased the USD by regular rounds of Quantitative Easing. The USD is rapidly losing its status as a reserve currency. The same happened with the GBP after WWI.
Just history repeating itself....
@@analyticalhabitrails9857 Not just in that way sadly. Look at the European Great Powers that created WWI by accident. They are all in play again with shifting alliances. Europe with civil wars and regional wars will eventually be engulfed. Not a nuclear war as everyone thinks but one of those bloody attrition genocidal wars. The Ukraine war shows us how it will go. The Balkans is the next to erupt. Remember the Archduke Ferdinand was assassinated in Sarajevo. Something like that will happen again, different but the same. Frankly, the EU is only a financial crisis away from the Euro falling apart and then Germany will leave the EU and the Southern states of Europe will implode. A Spanish civil war is never far away even now.
Why does she says "new currency"? The yuan isn't new. 🤦♀️
what a time to be alive..
Not such a good time to be alive if one is American and leans toward the right.
Lucia what is considered a right wing in America because liberals tend to use that word on everyone that doesn’t agree with them
@@Lucia-sy7le what does the right have to do with anything?
2 minute paper? 😆
It's like 1938 again. Communists and nazis holding hands to destroy democracy.
The US held all the cards after WW2 because it sold weapons to both sides until it was attacked by Japan and brought into the war at the end. Western nations stored their gold in the US because it was out of the war. After the war the US took everyone's gold in payment for outstanding debts, it was not interested in currency. He who has the gold makes the rules and they took full advantage to craft rules to suit the US.
You don't say? To wich country did the us sold weapons? Germany? Japan?
It didn't just sell. To Germany and Japan, it gave them the weapons and oil for free in exchange for them adopting eugenics and committing genocide.
The best thing an individual anywhere in the World can do for themselves and their families is to exchange their extra fiat currency that they do not need to live on for physical silver and gold. This is real money. Most people in the Western nations do not understand this.
@@pintiliecatalin funnily enough, yes! The US were pretty shympathizing towards german back then, and even when they sanctioned japan, they sill trade extensively on other sectors, esoecially weapons
…and then Nixon changed the gold standard into the petrodollar… would be interesting to see how much gold US actually has now?
So many countries are fed up with America and Europe. They had it coming to be honest. We go from a unipolar American power to a multipolar BRICS+ power. Let’s see which is better.
its between buyer and seller; they can pay with candies upon agreement. What has that to do with the third party?
Good, why should the world be controlled by the Federal Reserve
Because they are a helova lot more responsible than YOU.
Well, most countries are under the Rothschild Central Banks ... so, basically they are "controlled" by the Federal Reserve. The countries that don't have a Rothschild Central Bank, well they've been in the U.S. sanctions list for sometime.
@@samsonsoturian6013 Fed is very good at printing money
@@abracadabra4800 And burning it, unlike you. Now shut up before we draft you
@@samsonsoturian6013 Who is we ?
This is how the rest of the world plans to defeat the world’s greatest bully. They don’t need to risk a war that might destroy the planet. All they need to do is expose the bully for what he is and make him an outcast by his own actions.
Ah yes, China, Russia, India, Brazil and South Africa, definitely very moral nations! It’s not like Russia attempts to annex other nations, China tries to genocide the Uighyrs, India has a caste system and Hindu hordes murder muslims, Brazil is rampant with corruption, and South Africa murders and displaces their farmers for being the descendants of a racist regime.
We don't like you anyways. SINCERELY the big bad bully😂😢
Bully Russia?
@@god6384 No, Russia is against American bully cowboys. From Turkey
A war is definitely needed the people vs the "system" the real enemy
I can see that the Dollar will still be the most stable currency in next 25 years.
Nope its has been going down and down for a long time and its on its last dieing breath and having china, Brazil, russia, india, and south africa the countrie with the most influence on africa
ok XXXXXXXXXXXDDDDDDDDDDDDDDDDDDDDDD
This is not the first time nations have declared the will to make a new currency . The entire African continent were going to establish a new gold currency , but trade deals are what matter
Yeah.. The last time Africa was planning such thing the west and NATO attacked Libya
The US as dismayed Gadaffi to stop this happening.
yeah and look what they did to Gadhafi and Libya
@@kevin-ud8pc nobody will dare touch anyone affiliated to brics, China and Russia big daddy's will protect
@@isaacattah8212 BRICS are only five countries lol...who can NATO attack now? none of these five countries is someone NATO wanna mess up with...especially China, Russia, and India(militarily). If NATO ever tries to attack any of them, BRICS countries will soon cooperate, and NATO won't like it...USA wants money but not a WWIII.
The easiest way to smoothen out international exchange (imports and exports) is to peg the value of each currency by the prices of a basket of commodities of that country and the fix the exchange rate in the ratio of their respective price index.
Namaste to all brics nations 🙏🏻 🇧🇷🇷🇺🇮🇳🇨🇳🇿🇦
🙏🏻🇮🇳🙏🏻
Pakistan will join the BRICS nations too.
Peace. Sending LOVE from South Africa
Good luck with fascist Russia on your side.
Terror country of Russia. They will have to anwser one day.
Good job Joe keeping up with international relationships
😂😂
High level geopolitical analysis, no wonder the USA has been backsliding for 50 years with a populace so simple minded.
Joe is bringing doom
@@Redactedlllllllllllll the average American can only store memory for 4 to 8 years, afterwards it start to fill in the gap with imaginary filler. "Make America great again" "Not a racist country" "Minorities never do anything useful in this country" It's really a problem....I think, can't remember
Lol for real. He's bad luck
The currency is gold back do we have any idea if anyone confirmed the gold is there?
Russia, China and India have largest gold reserves. I don't know it matters or not but India as country hold 10-11% of world gold and recently India found new big gold reserves.
@@Rohit_0.552 India has a massive amount of gold. But you can check inda's books. You can't check Russia and Chinas. We have no idea if i moved we have no idea if someone stole it. We have no idea if it's still under there name at other places. We have no idea if most of it will be seized as war reperations. That's the problem with dealing with Russia and China. most of there econ is very opaque even to the people running the gov. It's why hate when the USA puts more and more road blocks to the books. Like is happening in some right wing states and left wing states. It sets up lies and lies build false answers. False answers make for more mistakes.
Wonder why this "Coalition"all of a sudden *
India Russia also dealing in Rupee Roubles...So they have trade currency other than USD too.
ASEAN is already forming their own remittance platform to bypass the USD denominated SWIFT. Very likely other trade blocs will follow. There will be a network effect but this time to ditch the USD for other alternatives.
There won't be any network effect when world's most economies will still use SWIFT. BRICS really are not that large economies if you remove their trade with the US and EU. Over 60% of world trade will be using SWIFT so how will you get network economics. Besides who is going to trust any thing run by BRICS countries?
Another reason to boycott China and India.
ASEAN isn't worth anything on the International stage. Plus they depend on western countries' sweatshops in order to have jobs and innovations
SWIFT is European no?
India has already created SWIFT alternative immediately after Russian sanctions.
I think it’s good. Helps to stabilize inflation by not having all the markets connected.
You missed the mark completely
I really hope that this BRICS currency succeeds and it ends up being backed by gold or silver. Right now, every piece of currency is printed out of thin air and loses it's value over time. Not only that, but inflation comes with it too, making every currency (euro, dollar etc) worth less and less. I really hope that BRICS succeed and it is backed up by gold/silver.
Brics doesn’t exist in China. You don’t agree with what the local gov is doing, boom you have no money in your account. It’s supposedly back by gold right? Yet it’s digital, and they can take it when they want
not just gold and silver but mostly any commodities like real actual things not "trust" thats hard to come by these days
It will only bolster socialism and communism
@@siliconhawk9293 True! Very true. It is so sad what happens with the dollar. It becomes less valuable and more inflationary. And euro too. All these fiat money are losing value and power.. Here where I live prices went crazy. Everything increased. I hope that this BRICS initiative succeeds. I would like to have money that actually has some value. And less inflation please 😇🙏
Hopefully it's not copper with a gold coating.
Well it was bound to happen. USA is being totally irresponsible with their USD. Every country trades in USD. Every country clocks up debt to be repaid in USD. Except for USA. USA gives countries a piece of paper that is supposed to allow them to buy equivalent trades exchanges anywhere around the World. But when it's time for USA to pay their debt, they just PRINT OFF MORE MONEY, which seriously dilutes the power of the USD for every other country in the world. As a result, USA does NOT pay their debt ... but indirectly ... every other country pays their debt. USA gets commodities, raw materials, manufactured goods, global food, etc for virtually NOTHING ... they just give countries a piece of paper for their personal imports. The other thing USA does, which is extremely MEAN, is that USD's are circulated by SWIFT. All Countries have their USD held in SWIFT, which keeps track of the Countries USD transactions. But, USA have the POWER to switch off any Country's SWIFT account so they can NOT do any trade exchanges ...even though it's their OWN money. Look at Afghanistan. USA decides they don't like their Government, so they've switched off Afghanistan from SWIFT so that Afghanistan can NOT get access to their own Multi Billions of USDs ... forcing all the Afghan citizens to live in 3rd World Conditions because their Government can't build them Civic Infrastructures or provide them with Civic Services. As such, Countries need to off load their USD's ASAP and leave SWIFT. The BRICS+ World Community are working to fix the International Trading problem for them. BRICS+ Currency, as of January 2023, is called #R5 from the start of the "R" letter of the 5 Starting Nations currencies: - Real (BRL) in Brazil - Ruble (RUB) in Russia - Rupee (INR) in India - Renminbi (RMB) in China (China has 2 currencies. RMB or Renminbi for domestic transactions and, CNY or Chinese Yuan for international transactions outside of mainland China). - Rand (ZAR) in South Africa BRICS+ have a new bank, the NDB - New Development Bank for the new BRICS+'s currency.
... and if the USA decides they don't like you or they declare you an enemy, They'll freeze your dollars. ( Russia). This is recognized globally as an act of war.
Well said bro. Boycott of illegitimate printed american dollar is necessary to End exploitation of World,to end drain of wealth,to end bullying, sanctions,to decrease value of illegitimate printed dollar. Evil america also exports inflation to other countries through it's illegitimate dollar. Boycoting use of dollars will also end export of inflation to other countries by america. Countries of World should boycott use of american dollar for trade. Countries of World should dump american treasury bonds, should sold american dollars from their foreign reserves. Countries which do this as soon as possible will be benefited much more as compared to countries who do this late. Then illegitimate printing cannot save america,it will only increase inflation in america and other countries will not effected by increased inflation in america. Collapse of Evil america is necessary for welfare of whole World.
Kremlin propaganda.
It's on for real. Take a fews years but it is over for the dollar. And the US economy will retract ;a lot of paper wealth will be lost. And it won't come back. The US will become like England a use to be country. And the west will fall behind the rest of the world in everything except military power. But won't have the money political will to do much because of domestic issues from Americans freaking out not being the world power and gods favorite nation anymore. So is the decline of American exceptionalism which never really was. Just the end of the advantage the US had After WW2. It only took what 100 years to almost ruin the planet for greed.
@@Mr.Monta77 No, USA manipulation. Instead of provoking China, wouldn't it be wonderful if USA worked with China. Every Human Being on the Planet would live a great life. Let's just hope USA grows up and stop their military provocations.
Prof john will be truly surprised and eat his words by end of 2023.
Them holding hands tells you everything you need to know😂😂
I know right...I busted out laughing immediately 😂
August 2023: BRICKS ARE NOW 11 BIG NATIONS
The US has lost its mind.
I wish
The dems have lost their minds
@@thomasrudder9639 shut up
@@thomasrudder9639 you suck! Divisiveness! Left and right are the same coin!
@@thomasrudder9639 Trump destroyed USA and is now going to courts for his Fascist behaviour. The last thing the world needs right now is a Fascist like Trump ... the POS!.
As the saying goes "All good things must come to an end" 😊
All bad things end aswell, in this case, its USD.
It served its time and purpose "There is a Time for every Activity under the sun.....A time to build up and a time to break down." So says God's Word.
The U.S. dollar dominance wasn't a "good thing".
@@BDRioga it was and is for those who benefited from it.
All good things must come to an end, but good for who? that is the million dollar question.
So now the right way is to divide the money into different currencies, stable currencies. To prevent a possible economic crisis.
Great book from Amazon called Endgame which alludes to the movement to end the dollar as the primary reserve currency. Those in power in the world are pushing for this and the writing has been on the wall for some time. Lots of people in power have been buying land in the US and Canada because the value of the dollar is going to go through the floor and into the basement.
INR, The Indian rupee has absolute added advantage of Unified Payment Interface (UPI) which completes transactions in real-time.
@@aryanically Not anymore. There's a tiny 1% transaction fee for a transaction of a few thousand.
@@HemantKumar-id3jg Only for payment from wallet, not from bank to bank
@@tarungupta506 Nah it's from bank to bank too.
@@HemantKumar-id3jg I told you. It's only for payment through wallets in upi apps.
@@aryanically Ah! For vendors, that explains it.
One major reason why many country went into inflation is because of US dollar.
You have understood things.
No it was because the international economy got ass fuked by Covid you goddam re-tard 😂
no, it's because they are losers countries.
Good luck trying to convince Liberals of that.
That is wrong, every country had inflation because they all wanted to print more. Politicians love that and use every excuse to print. If the Fed printed dollars, that does not mean they asked other countries to do so. The other countries did the same thing because it was easy and they wanted it.
My dad told me about this 2000 years ago...now it's happening
A great step towards a multipolar and more stable world.
It's an assumption only that China is pushing the Yuan as an international currency. In truth, Saudi Arabia accepts the Yuan for payment of oil, however, it is free to buy from China in any currency it chooses. Trade with China and India is in Rupee and Yuan. Russia will use it's Rubles, and so on.
Exactly! That guy is politicising it by gossiping basically about china going head to head with the USA i.e Yuan vs USD. There's absolutely nothing about china wanting to use yuan as a default currency for brics.
That's how debt diplomacy works. Provided your country has something, it's relevant. With the deterioration of the US dollar and repeat of how Bernanke said " irrational exuberance", what could be the next excuse of the people handling the monetary system? Read some Harvard articles about such . Did you know the connection of woke politics in the demise of SVB? Did you know the Green Politics is not embraced by Saudi? Why would they, when oil is their major industry. There will be countries that will be standouts because of a labor force who are literate. What good is there in the policies of the US under Biden with migrants that are not vetted. Look at how Americans in Educational system are worse in math and science compared to its Asian counterparts. Somehow , USA raised a generation of Brats. It's just what it is, a void needs to be filled somewhere.
@Ted Tan We liked Greenspans "irrational exuberance". In hindsight it covered what happened in the housing market, without him reacting. So, pretty ironic!
@@clementmpushe5957 I am no economist, but I think they are talking about a new reserve currency. As I understand it, a true reserve currency is accepted by the majority of nations. All nations then trade in this one reserve currency in order to simplify transactions between themselves. You need a nation with a huge economic footprint to serve this purpose, and China is closer to that, more so than any of the other BRICS nations (although India is coming up). You also need a nation on a solid footing, no social unrest likely to destroy its government, etc. Nations can always decide to trade with each other using their own currency. I think it is messy, as maybe you don't want to hold a currency of another nation that could fluctuate rapidly. As a nation, you would be holding value in nine different currencies--and dealing with fluctuating transaction rates and uncertainties in that nation. I think that is the value of having a reserve currency. That is why I think discussions focus on China.
@@cherfromtn8225 China : Knock Knock USA: Whose there? China: Its Xi, I come to collect your debt USA: Oooops
Time for US to concentrate on US.
Please god
Backed by gold huh. As much as I know, gold is finite, which means that deflation will at some point happen and that means, that people will either hoard the currency or gold and not use it since the worth will increase either way, even without investing. There is a reason countries stopped this.
Saudi Arabia and other Opec+ members should be a part of this as well to make it more effective.
Saudi did ask to join
Saudi already has an agreement with China to accept Yuan for their oil, and Iran as well
Is that why Indians beg for visas for Europe and US😂😂😂
@@unitycatalog Indians love white people
@@unitycatalog To get shot outta nowhere 💀
This is why gold is now over $2000 and Oz and will continue up to $3000 an oz... China, Russia, India, Brazil have all been buying tons of gold for the last 3 years
Gold prices rise during crisis not because a bloc buys a great amount of it. That actually would decrease the price due to supply demand. As the supply increases the value decreases and vice versa. So Gold is not the impetus....a new system is and gold eventually with the ability to manufacture it (Quantum computing and 3d printing) it will be worthless and guess who is in the race to manufacture Gold first.
@@lesserlight you cannot 3D print gold nor manufacture it... you can only mine it and refine it. It is theorized that gold is only produced neutron star collisions and until recently can be produced in microscopic amounts using vast amounts of energy in super colliders. you are very ill informed about gold
You Tube investment advice. You can bank on that 😁😄😆😂🤣
@Peter Smith Sorry to dissapoint you mate, but the US sold the biggest part of it's gold reserves to China the last five years, and China has by far the biggest reserves in the world. The US is bankrupt with it's national debt of 34 Trillion and no way to get out of it, the whole world knows this and that's why you see such a massive de-Dollarisation. Our money, Dollars and Euros have no value. It is like the stock market, all fried air. kzhead.info/sun/dbZteamqqYGHm40/bejne.html
The last 8 years...
They can keep their worthless currencies. 😅😅 The Bretton Woods agreement and the U.S. navy patrolling waters and guaranteeing safety passage is why the dollar is what it is. Those BRICS countries can use their own Navies to protect their own ships then.
childish reply the countries you are talking about have powerful and large navies very capable of protecting their own ships
I thought we were talking about the BRICS new currency,, how did you still manage to mention the US and the US dollar here,, put the right title please..
Joey's doing a fantastic job 😂
Joey is having a meeting with Rashi Sanook
Sleepy Joe
Good to see BRICS in one goal
The own-goal...🚮🚮
@@vwgti3414 OOOOOOOOOOOOOOOOOOOOOOOOOHHHHHHHHHHHHHHHHHHHHHHHHHHHHH but not really its still a good thing to make a fair currency
Unless you're a female. BRICS is the economic equivalent of a rapist.
Why is no one worried about this? There is no media coverage at all.
😂😂😂 cute how so many people think this will work
even the longest journey starts with a step and this is a step in the right way. They don't have to prove themselves to others infact so many countries are waiting to get on board and to say that this nations aren't a trading block its something you have to rethink. It won't take this giants long before they control the bigger portion of the world market.
" we have been created into tribes and clans so as to recognise one another and not despise one another "
Looks like losers want to have their own club.
“Let faith oust fact; let fancy oust memory; I look deep down and do believe.”
@@ClownCarCoup so imagine a world of finance with a line " No Credit, in GOD WE TRUST, everyone else pays cash" Yet faith tells me, there can be credit without interest, imagine that world
@@ClownCarCoup Mobi Dick
@@mobidick6064 Now step out of your fantasy world and put this to practice. You’ll be bankrupt and beggared tomorrow. We haven’t been _created_ into tribes and clans, we’ve _divided ourselves_ into tribes and clans. Each with its own god to worship be that Muhammad, Jehova, Yahweh, Vajrapāṇi or money.
Why do Americans keep saying the dollar is in a threat....? Changing trading currency is just good for those that don't want to use the dollar
Well know we know what countries to look out for
We only need our own AFRICAN currency period
...that no one will care about.
USA Dollar is loosing it's ground to BRICS where many new members have keen to join soon including Saudi Arabia, Argentina,Egypt Vietnam,Indonesia
I thought Argentina was in a state of economic collapse.
@paulhank rather look at recourses of each country.
Hope Malaysia and Singapore will join it too since Malaysia and China has close relationship
And Algeria
@@vdm568 Doesn't matter if the industries established to harvest those resources are corrupt/owned by overseas companies.
That picture will go down in history.Those guys are superheroes
competition is always good
It's about who you can trust.
Absolutely no one
100% on point!!!!
Anyone but (((them)))
🇺🇲🤑🇺🇲
Exactly, would you trust CCP?
The precursors of the end time are here. Terrible times are ahead of us
Yep it's waxing worse and worse
End for whom
Yep moving closer to NWO …..
@@dingleberry4234 U.S. dollar. Mark of the beast. People forgot about the Bible nowadays
Well, the end of white time maybe?
Reminds me of when Packard and Studebaker merged to create a stronger car company.
Exactly, China and Russia's economies are currently imploding -- this is the shiny object to distract people from that failure.
Meantime the interest rate of all these countries is much higher than the US. He forgot to mentioned that. Beside who do you trust!? For sure they dont trust each other I am curious to see how this will work.
Definitely not America
As much as I'm sad about the loss of the USD. I like seeing countries working together. I just hope it's for the best. There are many people within these nations.
The problem is the world is sick and tired of being bullied by the US empire.
@@burnerburner4074 As an American I agree. I have my grudges too. Dude I was led to believe Muslims were against the US, and Christianity was going to save the states. Like if Bush was Chosen for Gods master plan 😂
@@burnerburner4074 Idk I don't feel bullied by it.
@@GenericNameeee which country are you from?
@@GenericNameeee colonizees
End of dollar monopoly has been started ..
I don't know if this would be a good idea for other countries to go ahead with this. One might consider which countries would be or would not be benevolent in times of trouble.
Dumb and dumber, the five stooges. Good luck with that alliance 😂
Destined to fail for a simple reason.... the construct is as stable as the life expectancy of each involved dictator.... I would recommend to call it the B-RISC-Dollar. .. or the TroubleRupee.
Yawn-yuan. There is no mortar to hold the brics together !
People's eyes have opened.The USD will never be the same again
The only country that matters here is China. All the others are laughable. The economy of the entire country of Russia is smaller than New York City. The fact that Russia was even invited shows its a dog and pony show. Further, every collaboration with Russia leads to abject failure from the ISS, to foreign investment in the country, corruption of their military, etc. Russia will botch this currency and sink the entire thing -- because they ALWAYS fail.
Nah, I think we should be ok
@@terranceaddison4599 ok? yay happy recession b*tch
BRICS is ready to cremate US Dollar Amen
And if there was the creation of the $Amero US, Canada, Mexico? Would out GDP go up or get dragged down by the peso?
Just for show, but still gonna use the swift banking system. Nobody wants to use Chinese money or Russian currency because they are fake currencies. South Africa has a weak economy. These countries are not financially transparent.
Excellent move by the Brics ..hopefully many more countries will join them
Yeah we will see. Follow a communist down the road and see what happens. Surprised India joined since they are the only democracy in the group. This is getting very interesting. I hope we bring back all of our outsourced industry to home base in America. America makes or breaks China with our buying power. We just need to get past this presidency to start implementing a plan.
Bahahaha
Um, yeah, like all the poor stupid ones...
As a brazilian i approved it
You do realize that if that comes to fruition then life as we know it is not going to change for the better
Prove themselves first. Lets see how cooperate these nations are with each other.......
Let them alone. Whenever it involves in a group of men and it is money’s concern, there will be big problems. Leave them alone they will bit one another.
Imagine all those leaders agreeing to something so important, and sticking to it.
Most currencies are named after a unit of weight, for example pound, lira, etc I'm looking forward to the day when we trade in grams (Au) - the scientific international standard
Drug dealers got you covered
@@Sernival smart one 🤓
its gonna be probably in silver because most of people can afford it, just like in the past
we could say that is a very difficult task for them?