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We won't be seeing a BRICS currency any time soon (www.nakedcapitalism.com)

posted 1 year ago by kula 1 year ago by kula +115 / -1

Russian Central Bank Governor Elvira Nabiullina and Head of "BRICS Bank" Throw Cold Water on BRICS Currency Project | naked capi...

We’re late to a story that interestingly has been very much under-reported, perhaps because it is contrary to the anti-globalist narrative….already a minority faction in the Anglosphere. We’ve said for some time that the prospects for replacing the dollar ...

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– dec3169 2 points 1 year ago +3 / -1

I remember when I was stationed in Turkey the Lira rate was around 7000TL - $1. When I left 15 months later it was close to 20,000TL - $1. Five or six years later I saw in the news it was over 1 million TL to the dollar.

When I would buy stuff downtown everyone wanted dollars - they would give good discounts because they knew they would end up with more TL when (if) they exchanged it. Their currency was crap. At some point they did devalue it though.

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