The #BRICS Panic Is Mostly A #Crypto Thing.

[hgkghkhgkgh]

Leaders in BRICS countries don't want their currencies to become global. They need localized currencies to control their own oligarchs. For examples the windows in Russia or Jack Ma taking a vacation. If the Yuan or the Rubel were to become global the leaders of Russia and China couldn't do that anymore. The only thing that is going to destroy the dollar is American panicmomgering and greed. Although I believe we will see the rise of a more commodity centred global economy.

[kyosefgofa]

Gold too. I had to stop my parents from trying to hoard gold.

[thericeydoctor]

If China wanted to dethrone the might US dollar, it would have to let the RMB float freely in international currency markets, something that the government is utterly unwilling to do, since doing so would mean it would lose the ability to control its currency peg at the flick of a switch and thus surrender the tight macroeconomic control it currently enjoys. But even more importantly, allowing the RMB to float freely would also cause the greatest capital flight the world will have ever witnessed, as Chinese nationals themselves are desperate are desperate to move their cash to Western countries, especially the US, given there are not really any "safe" or low-risk harbors to hold long term assets in China. The domestic stock market is a joke, and the traditionally safe real estate sector is no longer a safe choice since the government is actively cracking down and tightly regulating this industry.

[biopsiesbeanieboos]

In the past, claims about the USD losing reserve currency status overnight, were followed closely by advertisements for gold.

[DeepsongProductions]

Though there are sound theories regarding an economic crisis in America; many channels milk it for clicks & views and to sell Gold, Silver etc...

I'm old school and am not interested in crypto... so unable to comment in that area...

[pgbpro]

I immediately thought the same thing. Crypto bulls trying to increase the value of their investments.

[impaler]

I think that confrontation with the dollar is something that would be done gradualy, Brazil(my country) and China deal could annulate 150 billion dollars, in the long run this could hurt the dollar if more countries start trading in other currencies, but thats gonna take a long time,
15 year minimum to make a difference.For those interested in detrone the US empire, challenging the dollar is the begginin of the road to destroy the US informal empire...

[maltemeyer]

End of Global Dollar is a bit like end of the EU.
„This time for real, I promisse!“.
Also more often than not paddled by similate or even the same group of people.

[J_X]

I like your optimism, but I just can't help that the US has definitely seen better days.

It seems like China is out of their crisis era of 2020-2022 with more diplomacy.

India is now the world's most populous country, and is increasingly turning it's back on the US imo, getting involved with Russia and BRICS.

Brazil, Europe, Iran are all leaning towards China.

Isn't looking good. Even if it is just hype, I think it shows how the US unipolar world isn't what it used to be.

[steelersguy]

Is BRICS even a real thing? Like, is there an actual legal framework/formal agreement or treaty?

[likemike]

it's got nothing to do with Crypto. It's Gold..