"A new BRICS currency is a threat to the West" Competing powers are inching closer to a rival monetary union...Quite an interesting piece...

posted 316 days ago by purkiss80 316 days ago by purkiss80 +12 / -0

Reports suggest that the plan might be to centre the new BRICS currency on the New Development Bank (NDB) in Shanghai, which would act as a clearing house. This seems to suggest that the NDB would become the BRICS equivalent of the IMF...

https://unherd.com/thepost/a-new-brics-currency-is-a-threat-to-the-west/

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– TrumpTrollMaster -1 points 316 days ago +1 / -2

What currency is that going to be? The Yuan? This absolute lack of understanding of basic economics is beyond ludicrous.

Stop pushing this shit shilled by CCP.

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– purkiss80 [S] 1 point 316 days ago +2 / -1

Did you even read the article?...NO you didn't.....

The Russian Finance Minister, Anton Siluanov, offered more clues. He said that rather than thinking of it as an alternative currency, he “would probably call it a payment unit inside the BRICS countries”. If he is to be believed, then the BRICS currency will initially settle trade between BRICS countries.

And how many more Countries are wanting to join BRICS?...Saudi Arabia and Iran just to name 2... Why would these Countries have to depend on the US$ completely when there will be other options ...be so shallow...

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– TrumpTrollMaster 0 points 316 days ago +1 / -1

Again, complete lacking in understanding of basic economics.

You do know why USD is the world's reserve currency don't you?

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