Big if true 👀

Doesn’t imply 1/55th of the purchasing power this argument doesn’t make any sense

Let's play this out. Manufacturing and imports are shifted to North America (Mexico, US, Canada). The US overnight stops importing and exporting to China. Play that out in your simulations.

Personally I’m good with it

Just get bitcoin lol.

The US dollar isn’t backed by nothing. They don’t spend 800B a year for decades without wanting to use those weapons. That said the fiscal situation in the West is awful. BRICS Currency may cause severe financial distress but I don’t expect the US to play nice.

@Constan94619360 Ordinarily I’d agree, but now we have a competency problem even in the military Should be interesting

I recognize your point and agree at face value. However many defence agencies regularly can’t show a accurate account for their budgets. I simply don’t believe the US don’t have some horrific weapons. That’s speculation however it will certainly be interesting.

@Constan94619360 @FinancialPhys So ur plan is to attack other countries, when this was all brought on by our own government? Just want to make sure I understand ur comment.

I don’t know why everyone is getting worked up. I’m saying when anyone is backed into a corner things can and normally do happen. The Dollar hegemony being revoked will be a massive blow and maybe cause the USA to act offensively in some way. There are many ways of attacking that aren’t conventional.

Simple fix, we join BRICS.

Financial reasoning in this video is nonsense though.

State by state we should also be joining the BRICS+ nations to rid the FED and get back to asset backed currencies. Its soon to happen just watch @USDebtClock_org

Wave Gang knows… 🌊🏄‍♂️🤙🏼🤑

You guys could save yourself a lot of trouble worrying about this if you just studied bitcoin.

😂😂😂 A certain set exchange rate doesn't make a currency strong or weak. The rate may have a very minor psyschological impact on people like the guy in the video, but that's about it. The impact would be fundamentally the same at 1 BRICS = 100 USD or at 1 BRICS = 0.01 USD.

People don't get it if they think they cam value a Brics currency in $

So the poster is right and wrong at the same time. First, it is silly to compare $55 to one bric$. Why? Because for all you know one bric$ is equal to buying one house. So there’s first a fallacy with converting numbers. The second issue is exchange rates tend to flow based on ease of currency. If nation issues more debt and lowers rates, it takes more of that currency unit to buy the same amount of goods. Where there is issue - is if dollars that are overseas come back here with vengeance, we would see enormous inflation. Which - I feel is already happening, which is why we cannot contain inflation. But for things to be more expensive for us, a currency that exchanges with the dollar needs to be a harder currency, more in demand. For example, if the peso somehow got a ‘hard’ currency overnight, avocados we import might go to $5 each. At the same time, people would stop buying avocados.

Has China been busy preparing for a gold backed currency? As the wife of a Navy veteran, I will comment that military spending is not necessarily proportional to military superiority (anymore?).

@MontanaHODL Not true, so... not big. 🤷‍♂️ The unit bias is stupid. Doesn't matter what the unit exchange rate is for a new currency. What matters is relative hardness/soundness. Any of these countries are already welcome to harden their currencies, but they don't.

One part is missing. The local currency trade will be backed by gold as the new reserve currently again (after a 50 year stint by the USD back to gold). Gold will be the trusted 0 counterparty risk commodity for BRICS as has been for centuries. Too bad the USA sold all its gold.

Our dollar has lost 99% value

Project Sandman.

Just…no. There is far more debt globally owed by sovereigns + the global private sector in US dollars than the US owes to itself in a currency it prints. Thats how this empire was built, folks. It’s more likely the dollar skyrockets against the BRICS currency when it debuts.

Dint care. I got Bitcoin. They can do whatever they want.

I hope they call the New BRICS currency a Gaddafi.

Also if America does not close this treaty with Saudi Arabia in two months - it is certain that the end of the dollar 💵 For information - Saudi Arabia asked all international companies to hand over the file of offers to establish its nuclear reactors on the beginning of July

Well, the guy in the video doesn't understand currency exchange, the Dollar, the Euro dollar market, debt.... the whole video is pretty backward actually

I suspect that the #BRICS #Currency is being set at the price of 1 barrel of oil per unit of currency. If the #US #Treasury #Dollar is backed by #Silver then price discovery between oil and Gold/Silver is what determines how much it is worth.

BRICS currency will be backed by gold and commodities. There’s probably going to be a revaluation of gold and precious metals before they launch their currency. So I’m not sure how he’s getting that ratio of one BRICS currency to US 55 dollars. I guess we’ll see what happens.

🤣 as an economist I can assure you there is zero reason to believe this.

$69,000 is currently 1 bitcoin.

Meh . I wish the luck.

@KingXRP33

He fails to mention how many British pounds will be equivalent to 1 BRICS currency. He is talking about a centralized crypto currency 🤷🏻‍♂️ I’d much rather keep my money in a decentralized crypto currency where the government can’t control or take it from me but you go ahead and give your government more control over your life 🤣👍

No.1 bricks = 1 pi ＝1 Ounce gold＝$3000.

Would be even more interesting if they execute this under the banner of WW3

@r4shad This is not true and will never happen.

hmmm..I wonder what the IQD and Iranian Rial rate to one BRICS unit will be?

He’s wrong. Classic unit bias. Enough of this fear porn.