Can the BRICS Dethrone the US Dollar?

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[mcyclonegt]

Of course they are going to come out with a propaganda video saying we have nothing to worry about. That means we definitely have something to worry about. These things are unpredictable. Just remember that.

[SonOfGod]

If it’s based on gold of course it will stop the dollar.,

[willrobinson]

People were saying the Euro was going to replace the dollar when it first came out. Never count the dollar out, it's a very resilient currency.

[mikkuga]

Brics currency is not an economic move. It is a military move and people should start paying attention.

[timothyshiu]

How does it work so that US can transfer US deficit and inflation into other nations when other nations use US dollar for global transaction?
(Elon Musk said that)

Why Turkey, Venezuela, Argentina, uk inflation is so bad even when they didn’t print that much money (fraction of what us money printed in the last few years)

[charlesbrightman]

ECONOMIC INFLATION:
The way I see it is that regardless of the currency utilized (gold, silver, fiat, crypto, etc), economic inflation is still economic inflation. ANY economic inflation over previous economic inflation, overtime, eventually becomes exponential economic inflation. If an entities' wages, benefits and investments do not keep up with the true cost of inflation, then the entity falls behind in buying power and becomes poorer. A nation will eventually fail as will a global economy will eventually fail with ever increasing economic inflation because most people do not have wages, benefits and investments that keep up with the true cost of inflation. Math is still math.

[louditalian]

US dollars is suffering is it has competition. Never in its history has had such a completion such as this.

[rubenmarcelo]

Economy started with the Dollar dominance and its really hard to make changes with the small countries who’s been hooked already like small Asian countries who believe they destined and part of it!😊

[Alhaqh]

Combined, the BRICS bloc has a GDP over 25.85 trillion U.S. dollars in 2022, which is slightly more than the United States . No need to print dollars out of thin air it will rain on US from brics countries 😂😂

[JustinStLouis-xzut]

Russia/China: Join BRICS and we'll print you 10 trillion dollars to spend with us.

America: We'll lend you 20 billion, you pay us back 25 billion, mmmk! Checks already mailed!

[christopersambeli]

they want to ditch the dollar not to repalce it

[Yogeshwar]

😂 watch it happen soon and get used to minimalism

[myotheraccountissuspended]

So basically the dollar is screwed. I knew it when he threatened economic instability. You don't threaten unless you're threatened.

[Motswako]

Yes of course "nothing is impossible in this world

[juanmontoya]

One is tropical; the other tundra. One has nuclear weapons, space program, oil & gas.
The other has nothing extensive. Tundra inhabitants earn $500USD a month, but there
are no massive shanty towns. The other possesses massive natural resources, and
it is free from massive expenses aforementioned. Though it is also dotted with massive
shantytowns. Both have very similar GDPs. Both are being titillatingly celebrated by
a banal acronym as the next global force. One is immensely more corrupt than
the other. Which one would that be? How come it is not known 2 D. Why is not
apparent to D? How come they receive unconditional approval of D?

[majesticfx]

BRICS isn't a competitor, more of an alternative as most international transactions will still happen in dollars, the euro dollar market is huge globally, and won't be put down so easily. BRICS members will still transact in dollars, as it would be necessary not to hyper inflate their currency early on. What will likely happen is there will be more options and more incentives for global banks in this new multi polar world to offer better incentives to use their currency which should lead to more prosperity, not less. Additionally, one thing that a gold backed currency will have issue with is money supply expandability and elasticity which would inevitably result in a limit to how far they can push the new currency in terms of scope and reach. You don't want your currency to be unusable so there's many checks and balances that must be met, not to mention global trust must be met including transparency of assets held.

[cgdimension]

All the nations invested in the dollar will have the option to switch to the BRICS currency if its in their interest, the US however is trapped and entwined with its dollar, imagine if all nations ditched the US dollar, isolating the US with its impossible debt and dead currency, a house of cards of its own making. Such an event could even convince individual US states to leave the Union to be independent or join another nation not tied to the dollar. All this might not happen this century but the US in the 2100s with a debt double what it is now, millions more citizens, severely impacted by climate change, foreign wars...it's bleak and all happening quickly all at once

[IamRemoWilliams]

It's going to be tough.Being backed by gold....so what.

[xcloud]

😂 Euro can’t even bring down dollar which comprises of wealthy european countries! How about brics? Comprises if weak countries looking to dominate because they have oil? Its a BS 😂

[daveboyke]

I would say just use gold, BRICS would never be able to beat the dollar. All those countries that comprise BRICS should just use gold to back there own currency.