Coming to America

[Methais]

Coming 2 America 2 was 2 awful to watch.

It was really really bad. I didn't expect much, but they could have at least tried.

[Methais]

Lol, an entire thread devoted to the xenophobia of the far right. Last I checked we haven't been in state of war with Mexico is more than a hundred years and yet the couch potato militants would have you believe this is a passive invasion attempt. So sad.

Sit down retard, people who shower and have jobs are speaking.

[~Rocktar~]

Coming 2 America 2 was 2 awful to watch.

^^ This is correct.

[Anebriated]

They are “trying”? No, BRICS isn’t trying, one or two countries in BRICS is “trying”, Russia is one of them(or the only one). That’s a BIG difference and a quite important distinction, but you do understand, that it’s just not going to happen?

If you understand the Geopolitical landscape like you say you do. You’d understand why BRICs will never create their own currency or drop the dollar. I work in the financial sector, I’ve worked in major banks in China, the UAE and Russia. BRICs have too many different competing interest, along with failing economies like Russia, US allies in BRICS as well, India and China hate each other. BRICs as an economic powerhouse taking over America or the G7/8 will never happen.

China going to a BRICS currency goes against everything their government stands for, you realize this right? China would lose control of their ability to manipulate their currency, and they would want full control of the BRICS currency, which the others would never support. Next, it would weaken the Chinese economy, as they would be propping up BRICS completely while dealing with failures such as Russia. Also, the Chinese economy is in fucking shambles right now, and it won’t get better in the near to mid future, quite possibly ever.

Accepting other currencies, you think it’s all doom and gloom, those payments are going to be few and far between, mainly for a few reasons. 1. Transparency. 2. Government. 3. Consistency. 4. Reliability. 5. The size of our economy. 6. The dollar 59.79% of total foreign reserves. In comparison, the Euro accounts for 19.66%, while the Chinese renminbi accounts for just 2.76% of global reserves. China could expand its market share by twenty-fold and still lag the U.S. dollar by a wide margin. 7. History. 8. Military. 9. Technology 10. These importance of the American economy.

Put simply, replacing the U.S. dollar in foreign reserves is easier said than done.

BRICS goal isnt to create a new reserve currency. It is to use the currency of each nation backed by physical assets on a global market place. Something the central bank doesnt allow.

[Solkern]

BRICS goal isnt to create a new reserve currency. It is to use the currency of each nation backed by physical assets on a global market place. Something the central bank doesnt allow.

You are wrong. I don’t know where you get your information from, but your sources seem awful.

Russian President Vladimir Putin first announced that BRICS proposal to create an international reserve currency at the BRICS summit in 2022 to rival the U.S. dollar as the global reserve standard. This proposal was later confirmed to come in the form of a gold-backed currency.

https://cointelegraph.com/news/gold-...iver-lyn-alden

Either way, do you understand how silly that is? that approach would mean the new currency tracks the price of gold and other physical assets rather than the BRICS' individual currencies. In any event, we have to ask what exactly the BRICS would accomplish by creating what would be essentially just another gold derivative? gold reserves were finite, and the more gold China used to prop up the new exchange, the less it would have to back its own currency the renminbi.

If you think having more gold backing a currency makes it stronger, then the more gold China allocates to the BRICS currency means there is less gold backing the RMB which, if we follow this logic, means a weaker RMB.

BRICS can create a currency backed by gold, but its purpose would be purely symbolic.

And on top of that;

https://markets.businessinsider.com/...urce=yahoo.com

An international movement against the dollar's global dominance, spearheaded by nations including China and Russia, has suffered a setback with the greenback's share of worldwide payments hitting a record high.

Data from the Society for Worldwide Interbank Financial Telecommunication, also known as SWIFT, showed an unprecedented 46% of foreign-exchange payments via the communications system involved the US dollar in July, per Bloomberg.

[Stop It]

The people who want to control you want you to believe them when they tell you to be afraid.

Stop it.

[Methais]

The people who want to control you want you to believe them when they tell you to be afraid.

Stop it.

Get it guys? It's because his name is Stop It that he ends all of his posts with "Stop it."

[Archigeek]

Wait, it WOULD have a catchy name, and let's face it, that's all that really matters. I'm down for some Gold BRICS.

[Anebriated]

You are wrong. I don’t know where you get your information from, but your sources seem awful.

Russian President Vladimir Putin first announced that BRICS proposal to create an international reserve currency at the BRICS summit in 2022 to rival the U.S. dollar as the global reserve standard. This proposal was later confirmed to come in the form of a gold-backed currency.

https://cointelegraph.com/news/gold-...iver-lyn-alden

Either way, do you understand how silly that is? that approach would mean the new currency tracks the price of gold and other physical assets rather than the BRICS' individual currencies. In any event, we have to ask what exactly the BRICS would accomplish by creating what would be essentially just another gold derivative? gold reserves were finite, and the more gold China used to prop up the new exchange, the less it would have to back its own currency the renminbi.

If you think having more gold backing a currency makes it stronger, then the more gold China allocates to the BRICS currency means there is less gold backing the RMB which, if we follow this logic, means a weaker RMB.

BRICS can create a currency backed by gold, but its purpose would be purely symbolic.

And on top of that;

https://markets.businessinsider.com/...urce=yahoo.com

An international movement against the dollar's global dominance, spearheaded by nations including China and Russia, has suffered a setback with the greenback's share of worldwide payments hitting a record high.

Data from the Society for Worldwide Interbank Financial Telecommunication, also known as SWIFT, showed an unprecedented 46% of foreign-exchange payments via the communications system involved the US dollar in July, per Bloomberg.

So this might be us saying a similar thing but without going into nuance on a message board discussion coming across very different. They plan on having a currency(most likely some sort of CBDC, I believe I've heard XRP mentioned) to facilitate the cross border transactions but there is not a plan to have those countries all use one central currency.

[Solkern]

So this might be us saying a similar thing but without going into nuance on a message board discussion coming across very different. They plan on having a currency(most likely some sort of CBDC, I believe I've heard XRP mentioned) to facilitate the cross border transactions but there is not a plan to have those countries all use one central currency.

I’m not sure I really follow? You said they don’t want to make an international currency reserve, and they only want to use their currencies backed by physical assets, Putin clearly stated that they do want an ICR.
They also want to make a euro type currency. But there are soo many issues with that, I won’t even bother getting into it.

They also want to trade more between each other in their own currencies, Russia and India were doing that, it lasted a grand total of like 6 months to a year because Russia didn’t want rupees, and they are DESPERATE for foreign currency.

Like how bad can it be, when a country that is beyond desperate for foreign currency, turn down rupees? That should show you all you need to know about how dysfunctional the corporation is in BRICS. Yet dollar usage between these countries is at an all time high.. looks like it’s as it’s always been, lots of talks and that’s it.

The main issue is, BRICS isn’t like the EU, they have absolutely nothing in common, except for emerging economies. Half of them don’t even like each other, they can’t even cooperate on basic shit between themselves, etc etc. They can talk about this all they want, the world and the news can make a big deal about it all they want. In the end, nothing is really going to change.