BRICS Currencies Crashing

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In this video I discuss BRICS trading alliance between Brazil, Russia, India, China and South Africa. This alliance has existed since 2009 and has been touted as having the potential to displace the West as the biggest trade agreement in the world. Earlier this year there was talk of a BRICS currency being set up and in this video I look at what has happened to the individual BRICS currencies over the past 12 months.

For specific details please check out the CHAPTER list below.

Chapters:
0:00 Intro
2:30 BRICS GDP
4:15 BRICS CURRENCIES
7:56 SUMMARY & CONCLUSION

#brics
#russia
#china
#india
#brazil
#southafrica
#ruble
#russianeconomy
#gdp
#rouble
#ukraine
#uk
#pricecap
#GLOBALFINANCIALCRISIS
#RUBLE
#SWIFT
#RECESSION
#CHINA
#USA
#NATO
#WW3
#WORLDWAR3

[kimwelch]

The problem with the idea of a BRICs currency is that it's like electing a Pirate King. It will never happen because everybody votes for their own currency.

[Lookingforsanity]

I always wondered how BRICS could really work if none of the countries trust each other.

[abcde_fz]

The problem with BRICS is, and has always been, the fact that
the nations involved do NOT share a well-defined common goal.
"Replacing the dollar as the world's reserve currency." does not
count as strong enough motivation for this kind of alliance.

[mdj.]

This is the update on BRICS I was waiting for.
Thank you so much...

[jcg]

Jealousy & bitterness is a poor financial & economic methodology.

[rebeccawhite]

Its seems both ironic to me AND justified, that the very currency Brics is trying to take down, is the only currency anyone wants when their currency collapses.

[jasontroy]

Where are the bots that told me BRICS is gonna replace the dollar

[thesnarkreactor]

Russia: "Hey India, want to join our trade alliance to fight the dominance of the US Dollar? Oh no, we won't take your currency; USD only please." lol.

[ronaldl]

Waiting for a BRICS currency is like asking for unicorns.

[peterflohr]

At least they already have a name for their new currency: the Brick.

[Alan_Clark]

6:00 The rupee has gone from 83.1 to 84.9, which is about 2.1%, not 22% as stated.

[jtfdan]

They all crapping BRICS now!...too funny! 👺💩🤡

[DntKnow-mx]

How is it crashing when it hasn't gotten started yet??

[slamtilt]

I think their main problem was thinking that they could replace the US$. Rather than just focusing on building their own connections to each other with trade and diplomacy.

[robynandrews]

27% of the world GDP really isn't a lot when you factor in the land mass and population of those countries, and what resources they collectively own. Corruption, greed and incompetence was a blessing for the rest of us, but Americas corruption and greed really needs to be addressed too.

[markfischer]

The exchange rates of Russia's and China's currencies has been highly manipulated by their governments. Their economies are generally doing meh in the case of India to horrible and likely to collapse in the case of Russia and China. The notion of replacing the US dollar as the world's reserve currency is absurd for many reasons. The US economy may suffer a recession but in the long run it will power ahead far beyond its already great lead. Based on the latest data I've got from the World Bank's web site for GNI/GDP ratios, and PPP, China's GNI not adjusted for PPP is 2.3 trillion dollars while the US is 23.5 trillion dollars. The US income is ten times China's. This is using China's GDP numbers which might be dodgy. The US dollar based on US GNI is greater than all of the broke BRICS combined.

[reincarnatethylacine]

There's too much potential for discord amongs the BRICS partners.Geo-political tension with India and China actively engaged in a border dispute, China issuing veiled threats about recovering Russia's Far Eastern Territories and Brazil and South Africa being largely irrelevant. The biggest members of the group simply don't trust each other and that makes it almost impossible to create a strong and unified organization.

[ENNEN]

When you make a trade agreement with the idea to overtake the USD, having India, South Africa and Brazil as some of your most illustrious headlining countries is a guaranteed failure.

[cathe]

When those same currencies are compared to the US dollar over extended periods of 10 years, 5 years and 2 years, what we notice is the shrinking margin of the USD as it continues to weaken against those currencies is in the long run. This trend is consistently evident comparing currencies of the G7 countries as well.

[danielalexander]

You can't combine 5 failing economies and end up with a success.