Why Russia is Trying to Create a New BRICS Currency

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Aiming to disrupt the dollar's power as the world's reserve currency, Putin continues to talk up the prospect of a new common BRICS currency. So what would that actually look like? Is it even feasible? And is it likely to damage the dollar in any way?
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1 - Adam Tooze, Crashed, Chapter 5
2 - financialtribune.com/articles...
3 - www.ft.com/content/a5187880-c...
4 - en.wikipedia.org/wiki/BRICS
5 - economictimes.indiatimes.com/...
6 - www.agenzianova.com/en/news/l...
7 - cointelegraph.com/news/russia...
8 - www.imf.org/en/About/Factshee...
9 - foreignpolicy.com/2023/04/24/...
10 - www.ft.com/content/ef0cac54-4...
11 - moderndiplomacy.eu/2022/12/21...
00:00 Introduction
01:05 Why Putin Hates the Dollar
04:45 What Would It Look Like?
05:40 Could It Actually Happen?

[@shellylofgren]

BRICS seeks to create a new currency, considering gold's historical role as a store of value and medium of exchange. However, the functionality and acceptance of a gold-backed currency in the current global financial system are uncertain. Creating a new currency requires careful consideration of economic, political, and logistical factors.

[@jeffery_Automotive]

The discussions and proposals surrounding BRICS nations' potential use of gold are intriguing. People choose to buy gold for various reasons, such as its historical role as a store of value and medium of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities. Gold also offers diversification benefits to investment portfolios due to its low correlation with stocks and bonds. However, investing in gold carries risks and may not be suitable for everyone. Investors should carefully evaluate their objectives, risk tolerance, and financial situation before deciding.

[@theresahv]

I find gold investment reliable and aim to buy more to recover losses. Silver is also a good investment but differs from my collectibles. Clear investment goals and education are crucial. I work with Julie Anne Hoover, a SEC-regulated financial consultant. Starting with modest investments, I accumulated nearly $799k over time.

[@DavidRiggs-dc7jk]

@@theresahv How can i reach her, because I’m seeking for a more effective investment approach on my saving.

[@theresahv]

Julie Anne Hoover maintains an online presence that can be easily found through a simple search of her name on the internet.

[@DavidRiggs-dc7jk]

@@theresahv After locating her, I composed an email and arranged a phone conversation. I'm optimistic that she will reply, and my goal is to conclude 2023 on a financially successful note.

[@andrewclydesdale6405]

There is a 0% chance India will give up there sovereignty for a mostly Chinese controlled currency.

[@eduwino151]

BRICS is replacing the dollar when India and china the biggest BRICS economies have military brigades facing off in the border lol

[@giorgioguercio3331]

-100% chance, to be precise 😂

[@badluck5647]

Why would India and China link their monetary well-being to economic basket cases like South Africa, Russia, and Brazil? It would be like the Euro, but everyone is 2008 Greece.

[@ibringnegativity]

Why the hell India use a currency dominated by China? lmao

[@ice00monster]

Doubt this will even happen, India is a powerful country in its own right

[@anonhamster7958]

People forget that BRICS is a glorified geopolitical term, Not an actual alliance or agreement

[@badluck5647]

They are trying to make it an alternative to the G7. I'm not sure how successful a BRICS alliance can be if is just based on a lack of values.

[@tnamr5652]

​@@badluck5647 19 more countries wanna join brics n Saudi Arabia just got accepted.This guy is sick is not about Russia the world need alternatives

[@MuiltiLightRider]

Yeah, especially with the presence of India, China, and Russia in the same bloc? All of whom are geopolitical rivals and who vie for dominance in their region, especially between India and China, Russia isn't on their level but has aspirations to be. I'd make more sense to have a South America/China bloc or an Africa/China bloc considering they're groups with strong economic ties. I think this is just more media posturing from Putin, but he's not able to get away with it like he was in the last decade since the smoke and mirrors of the current Russian state have been laid bare since the war in Ukraine

[@badluck5647]

@@tnamr5652 And South Korea, Australia, Poland, and even India has shown interest in joining the G7 bloc. This is a lot more impressive than BRICS having Syria join their club.

[@Windows11Sucks]

Like how some people think the EU is an military alliance? 💀💀

[@brinjoness3386]

4 unstable currencies and 1 heavily manipulated currency joining forces, i encourage them to do it.

[@B1gLupu]

Well, 2 heavily manipulated ones. It's illegal to do a lot of the normal international trade with the Ruble. It's both unstable and heavily regulated

[@SimplyVanis]

@@B1gLupu It's even unwanted currency. Nobody wants ruble. You get more rubles than you can buy oil with and then what?

[@badluck5647]

It is like the EURO if every country was 2008 Greece.

[@milton3204]

@@badluck5647 No, it's not like the euro at all. The european common market is the second largest market in the world after the US, and has strict adherences to fiscal law. Stop coping.

[@badluck5647]

@@milton3204 You are missing the point. A BRICS currency would just encourage irresponsible spending in South Africa, Brazil, and Russia, because they know that China would bail them out to protect their own monetary well-being. It would just be the 2008 Greek Eurocrisis over and over.

[@SkyGlitchGalaxy]

Putins todo list before he dies: 1. Make Russian great again 2. Replace US dollar. 3. Perpetual motion machine 4. Traversable wormhole for intergalactic travel. 5. A real hypersonic weapon 6. Get the T-14 Armata prototype working All equally likely.

[@avuazahc1966]

war criminal wishes while we wait for him here in South Africa to arrest and send evil Pootin to ICC.

[@SteffenBoserup]

He needs to step up then! Life expectancy for men in Russia is around 67 years, and by being 68 years old, he unfortunately has passed his "best before" date

[@ivoradic7786]

You forgot: 7. Finish repair work of Russia's aircraft carrier Admiral Kuznetsov

[@jeckjeck3119]

@Анти Наука Over 200,000 KIA Russians, lol.

[@alexanderzippel8809]

Before any T-14 actually get rolling, there will be flying cars and the west has developed 5 countermeasures to the T-14

[@yayekit]

Common currency = common core inflation rate (a la Eurozone), common foreign trade policy, common free trade rules across the bloc, etc. I very much doubt that any of the BRICS countries are capable of taking responsibility for all this. To enforce all this, they would either need to become a single sovereign country (as the US did with the introduction of the dollar back in 1792), or something as close to that as possible (the EU).

[@dendradwar9464]

Eurozone does not have a core inflation rate .. the Eurozone inflation rate is an average of the member states inflation rate .. and there vary very widely .. If things worsen economically you are going to see more and more pressure be heaped on the Euro as it becomes more and more apparent that the ECB setting rates that make sense for essentially Germany worsens the economic circumstances of other countries But yes I agree with the BRICS currency not been a runner .. what is a runner and what is how happening a lot is individual trade deals between lots of different countries are been settled in currencies that are not the Dollar .. this is a real thing and it is only going to accelerate for lots and lots of different reasons Dismissing this bi-lateral trade agreements in non USD currencies would be extremely short-sighted ..

[@Milo-id9qd]

They could make one strictly for trades between countries, not in circulation between common ppl, just between states.

[@marilenaganea6578]

@@Milo-id9qd LMAO! And what base that currency would have when 3 out of 5 "members" are economic basket cases?

[@badluck5647]

BRICS would be like the Euro, but 3/5 of the countries would be 2008 Greece.

[@badluck5647]

​@@Milo-id9qd Those limitations would make it a poor alternative to the petrodollar

[@jonathanfaber3291]

Love the idea that a secondary reserve currency wouldn’t be like, the euro but instead a secret third currency

[@wothin]

Actually it would be exactly how the Euro started, with the European Currency Unit

[@eksortso]

They couldn't keep it secret for long if they wanted to ensure it retains value on an international market. They'd necessarily need to keep it separate from their domestic currencies and show some guarantees that they wouldn't manipulate it for political reasons. Maybe the U.S. holds political leverage with the USD, but they dare not flex it more than the hypothetical BRICS currency's stewards would. To that end, the BRiCS currency must be publicly traded for it to serve its intended purpose.

[@jeckjeck3119]

@@wothin Don't even try to compare this clown show of an organization to EU. Son: ''Mom, I want EU!'' Mom: ''We have EU at home.'' EU at home: *BRICS*

[@HelloitsSigmar]

@@jeckjeck3119 😂

[@mersifullwolf4054]

@@jeckjeck3119 well said ❤❤

[@Red0543]

I’m calling it right now: No, Russia won’t be able to even get one country to sign up with their rubbish.

[@eduwino151]

Try telling that to the 3rd world legions who cant do math and are having hardons of the dollars imminent collapse

[@gavasiarobinssson5108]

19 countries applying for brics membership. And the Brics currency isnt Putins

[@dendradwar9464]

Grand I'll call it .. Belorussia .. you lose .. BRICS currency is a non-starter .. move away from the dollar is not ..

[@bogustav21]

Unless it is countries like North Korea, Belarus and Syria. Would not be exactly surprised then

[@marilenaganea6578]

@@bogustav21 you mean there are some bigger lunatics on this planet that will grab the Russian lunatic and will drag him down ... I would buy ticket to that show

[@theinternetofrandomthings7796]

Currencies are always founded on trust, more than anything else. Why would a group of countries that don't trust each other, and are certainly not trusted by anyone else, agree to setup a common currency that would cede their monetary policy control to someone they don't trust?

[@arandombard1197]

Ultimately, currency is a promise. I sell bread into the market and get 'bartering credit' instead of directly swapping goods, then later I can use those 'bartering credits' to purchase something I need, like a car. That's the basis of all currency, mutual trust and stability. Putting those words in the same sentence as Russia and China almost sounds like the beginning of a joke.

[@cookiecola5852]

It actually makes alot of sense if you dont think about it🤔

[@yanbarbosa8092]

So we should trade on dollar and keep the us imense privilege and control of our economies?

[@ninjafruitchilled]

​@@yanbarbosa8092 Until those countries obtain a higher level of political and economic stability then yeah, they are better off to keep trading with the dollar. Unless Trump gets voted back in and the U.S. really goes down the toilet. Then they should probably use Euros.

[@SuperJibulus]

@@toromontana8290 they need to invite Iran

[@hchen2513]

People think BRICS actually has footing to stand on is just hilarious 😂

[@eduwino151]

most of the antiwest legions generally have a poor understanding of how Global economics works

[@gavasiarobinssson5108]

China is the factory of the world. Just that fact should make your statement weird.

[@klevis6859]

​@@gavasiarobinssson5108but that's china not brics

[@giorgioguercio3331]

@@gavasiarobinssson5108 China's economy is going to slow down in the future.

[@DOSFS]

@@gavasiarobinssson5108 But China isn't BRICS and its aim clash with other BRICS member especially in economic.

[@-Pamela]

BRICS wants to build a new currency. It is also worth noting that gold has historically been used as a store of value and a means of exchange, and some countries still hold significant amounts of gold in their reserves. However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subiect to numerous economic, political, and logistical considerations.

[@-Fredrick]

It's interesting to learn more about the discussions and proposals around BRICS nations and their potential use of gold. There are several reasons why people may choose to buy gold, including its historical use as a store of value and means of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities. Additionally, gold can offer diversification benefits to investment portfolios, as it tends to have a low correlation with other asset classes like stocks and bonds. However, it's important to note that investing in gold carries risks and may not be suitable for evervone. and investors should carefully consider their investment objectives, risk tolerance, and financial situation before making any decisions.

[@c.moeller]

Investing in gold is a reliable choice, and I plan to keep buying more to make up for my losses. While silver is also a good investment, my collectibles are not as similar. It's important to have clear investment goals and educate yourself on the type of investment that interests you. I work with COURTNEY HEATH WILLIAMS, a financial consultant regulated by the SEC, and started small, but eventually accumulated almost $1 million.

[@Barbara0015]

@@c.moellerPlease if you don’t mind, could you please share the contact information of your financial advisor, because I’m seeking for a more effective investment approach on my saving.

[@c.moeller]

His available on telegam using the user name information below..

[@c.moeller]

@@Barbara0015WHCOURTNEY.

[@GustavSvard]

The only BRICS currency unification we might see within a decade is most of Russia using the Chinese Yuan after Russia collapses economically and Siberia becomes more a part of the Chinese economy than a part of the Muscovite economy.

[@ondank]

Yeah, they might have avoided it had Ukraine gone well for Russia, but China seems to now know that Russia will end up a vassal state no matter what. The more its beaten down by Ukraine, the more it will have to lean on China to recover, and China will be happy to help them back onto their feet in exchange for all the oil they so desperately need.

[@jeckjeck3119]

@Анти Наука LOL, consume less vodka.

[@eduwino151]

@@ondank Nope China wont help russia back on its feet its going to buy the country and strip mine it wholesale, the remnants of russiane educated youth will all flee to the EU

[@ondank]

@@eduwino151 the "help" was a euphemism. I literally described them as a vassal state in the previous sentence

[@User_J9000]

Can I have whatever you're smoking?

[@graham1034]

I had already typed up a list of reasons a BRICS currency doesn't make sense but this video actually does a good job of highlighting the major ones. Kudos TLDR

[@ipadista]

3:39 SWIFT is not US lead, it is a Belgian cooperative society, and it uses separate data centers for US vs rest of the world transactions

[@tobiwan001]

The US always claims they put sanctions on Russia, but de facto the US is not big in global trade. They make up just 15%. In reality it is the EU that makes the edge give sanctions as it makes up 30% of global trade. Similarly Swift was sanctioned by the EU not the US.

[@tobiwan001]

@Анти Наука which are both relatively small. And any Russian system is not trustworthy per se. Legal security is a good that dictatorships like China and Russia do not possess.

[@bluehammer1245]

@@tobiwan001 A single country controls half the amount of global trade as a major coalition of 27 countries. Just stop and think about it for a sec and come back and say that the U.S is not big in global trade.

[@tobiwan001]

@@bluehammer1245 those 27 countries have roughly the population of the US. Also I excluded Intra EU trade. If you included that Germany would be almost as trade intensive as the US, despite only having a quarter of the population. This was not meant as an insult, but it is objectively true, that the US has a low trade intensity. And especially with Russia it had almost no trade while Europe exchanged goods for energy imports. So it is fair to say that the US might have declared sanctions, but the relevant trade sanctions came from the EU.

[@jesuszamora6949]

​@Анти Наука If MIR is anything like GLONASS, I wouldn't wanna use it.

[@PashaSemf]

Great strategy "Hey look at me being an unreliable partner, wanna join my currency?"

[@stephenjenkins7971]

@Анти Наука That really doesn't fit reality when the world uses USD for their trade lmao.

[@tygonmaster]

​@Анти Наука Hate us because you ain't us. Stay mad. Every single country within the former Soviet Union has had a crippled economy to some extent or another and only the countries that have good relations with the United States have had any success at rebuilding. Russia bloc states all have crippling issues. This is not opinion. It's simple fact. Like it or not the US is a functioning country with a functioning currency and remains the world's true only global superpower. Russia has....Tasty Period. Enjoy.

[@jeckjeck3119]

@@tygonmaster People like her have a dark jealousy for US power.

[@mowabb]

@tygonmaster say it louder for the idiots in the back 👏👏🇺🇸👏👏

[@Mourele]

The BRICS intention were never to replace the dollar in its entirety 🤔 it was always something trade-focused and to imply otherwise is very naive…

[@michaelotieno6524]

I don't know why they mischaracterized the whole thing.

[@JavoCover]

@@michaelotieno6524 Because people is stupid.

[@water9097]

​​@@michaelotieno6524News Media has become a joke .

[@zinetx]

Your comment should stay down. We must be pro-Ukraine, and anti-Russia, even if we needed to spread misinformation. Please don't speak up your mind, use the herd mentality instead.

[@scaper12123]

The fact that I’ve yet to see anyone argue the Euro could replace the dollar tells me that none of these other-odd currencies will replace the dollar either.

[@stephenjenkins7971]

Right? Only the Euro has actually cut into the USD's share, everyone else are thousands of kilometers away from that.

[@jeckjeck3119]

@@stephenjenkins7971 And that only happened because of EU being a relative success and US wanting it to happen.

[@stephenjenkins7971]

@@jeckjeck3119 Idk about wanting it to happen, but I do acknowledge that the US didn't bother to try and stop it.

[@yanbarbosa8092]

We don't want to replace the dollar, we want to have an alternative currency to trade in case Washington deems we are not following their line

[@stephenjenkins7971]

@@yanbarbosa8092 That's not what a bunch of Indians are saying, nor is it what Chinese and Russians are saying.

[@raxycalagnylova8865]

I just imagine putin,ghandi,winnie the pooh,nelson mandella and lula on the currency it will be weird

[@cookiecola5852]

Well if Putin were to be on any currency he would definitively have his Roman crown knockoff ready

[@Shakemon]

It's gandhi

[@makingwaves1239]

If Putins plan is as great as his plan to make Russia a global economic superpower it will fail badly. Decades of mismanagement and corruption has lead to Russia having an economy with a GDP the size of Italy.

[@Hikoplouyr]

If his plans are as great as his plans to make russia a global economic superpower then it will be a great plan cause russia is already a global economic superpower

[@Woskeed]

​@Зая Ядерная everything else

[@jeromeace1282]

​@Зая Ядерная he was talking purely in monetary value. Russia does have a lot of potential though, but the reforms to make its economy great require the likes of Putin and the oligarchs in general to be stripped of much of their power. Those people would rather rule over a shit hole than be mediocre in a great country, so that's not going to happen.

[@danhobart4009]

Don't forget centuries of sanctions and punitive actions.

[@suportbghelp4938]

@@Woskeed West GDPs is base on printing money.Mean nothing at all.I dunno why even people mention GDPs but not state budgets, what is real money every country have to operate in current year.And USA empty their yearly budget in june, is big joke ever.

[@debater452]

BRICS is basicly the geopolitical version of the Le grill scene from the Simpsons

[@TheSmart-CasualGamer]

"WHY DOESN'T MINE LOOK LIKE THAT?!"

[@tomonabudget]

thanks, I just had to re-watch it now :D

[@richardjames3022]

Actually, although the Dollar is the main reserved currency, but the GBP and Euro are also reserve currencies, hence Russia has been trying to (before the war) use more Euros

[@heinedenmark]

Yes. It's the second most used currency, in international trade.

[@georgebethanis3188]

Euro and dollar yes. GBP no.

[@paul1979uk2000]

Hasn't the Euro been taking market share away from the US Dollar over the last 2 decades?

[@bigfudge2031]

Well, obviously it makes sense for most European countries to trade in euros (even if that isn't their national currency) because they likely have a high volume of trade between neighbouring countries. The Euro is used by 20 countries so it is actually a useful currency to have (even I keep some euros in my wallet)

[@jeckjeck3119]

@@paul1979uk2000 Yep. And US wants just that.

[@aL3891_]

Patrick boyle here on KZbin has made some fantastic videos on dollarization, brics and finance in general, it would be awesome to see a collab with a more detailed breakdown on reserve currencies and how they work, it's not all positive to be one

[@RanEncounter]

Patrick is fantastic and the video about this topic was very good I agree.

[@swapnils2614]

Mate…. Send a link to the video

[@fungo6631]

Even within the EU and Eurozone there are frequent conflicts and disagreements, even if largely minor and mostly backstage. How do BRICS countries expect to manage their own version of both if two of them are almost at war with each other?

[@michaelotieno6524]

It will not be a common currency but a 3rd party currency backed by commodities. They will then create an independent institution like the IMF to manage it.

[@igorpupkinable]

@@michaelotieno6524 institution is already there: New Development Bank.

[@Emilechen]

since China manages to reconciliate Iran and Saudi Arabia, buy the West is unable to do so,

[@Frzned9x]

@@michaelotieno6524 imagine china giving up their power for a 3rd party to control the currency, it ain't happening

[@michaelotieno6524]

@@Frzned9x And yet China is discussing such an outcome, who imagined China reconciling the Saudis and Iran

[@BenjaminKeller]

Nothing against independence from the Dollar, but Russia, India and China? Have fun 😂

[@jeckjeck3119]

Let me just grab the popcorn.

[@arandombard1197]

If people want independence from the dollar, then they need to create a legitimate alternative. The only ones that exist right now are the pound and euro.

[@jeckjeck3119]

@@arandombard1197 Neither of which want that responsibility.

[@AnglosArentHuman]

​@@arandombard1197 > Pound > Alternative to the dollar Found the Britbong!

[@arandombard1197]

@@AnglosArentHuman A thousand year old country that has never defaulted and has always paid its debts, whose legal system and legal principles are used throughout the world and is one of the world's financial centres. You'd have to be pretty stupid and ignorant not to be aware of its status as one of the main traded currencies. Oh, I see the argentinean flag. You're just butthurt about the Falkland islands and the general belgrano. Cry some more.

[@Welgeldiguniekalias]

What should this new "global reserve currency" be called? A) Brick B) Tank C) Plunge D) Plummet E) Nose-dive

[@SteffenBoserup]

Yo-Yo's?

[@Smytjf11]

NGL, those all sound like shitcoins

[@dutchroyalnavy1]

*Backflip-Dive*

[@hansbass8119]

Delusion

[@Flipflopflopper]

Bricked, as in, the currency bricked their economies

[@waltershearls]

BRICS: Zero trade agreements Zero financial framework Different interest rates No common trade outside India and China that would move global markets. Russia doesn't want rupees because they can't spend them. India doesn't want RMB South Africa is a dumpster fire Brazil goes from great economy to the roof is on fire every 5 years.

[@badluck5647]

It would be like the Euro if every country was Greece

[@jeckjeck3119]

@@badluck5647 It would be worse. I hate comparing this joke of an organization to EU.

[@cxzact9204]

As a South African I can confirm: South Africa is a dumpster fire. My electricity is currently off and scheduled to return in about 3.5 hours. Our currency is effed enough. Adding Russian management into the mix would be the end for us.

[@RobespierreThePoof]

All true. But this is a strategic play in its early days. I would watch it carefully. If China manages to form any kind of alliance with Brazil, that will mean the US will suddenly need to invest so much more of its resources in the Western hemisphere. China is already winning its strategic game in Eurasia. The one thing the Chinese did not want in geopolitics, above all else, was a Russian Federation that was moving into alignment with the EU. Putin's invasion of Ukraine forced all of Europe to isolate Russia economically and sever most ties. Merkel's old strategy of bringing Russia into the European fold gradually through trade ties suddenly failed miserably. Few have noticed this yet, but this is ultimately a Chinese win. Even if Ukraine wins back all of Donbass and Crimea, Russia is left a weakened pariah state that will become increasingly dependent on Beijing. And so, China's Euraisan game of chess moves to checkmate.

[@waltershearls]

@ems4884 I have a few rebuttals: It's not the early days of Brics. The concept is 20 years old, with little movement on any financial framework. China growing influence in Eurasia is more of India and Russia problem than being strategically important to the West or particularly the USA as far as commerce goes. As far as Brazil is concerned, what they do with China the USA doesn't really care, it never has, honestly. Last thing USA under the Bush administration, tried to include many Latin American countries under NAFTA. When it is time, sign... they tried to embarrass the United States. which, in course, backfired , and USA investors went to Asia instead. You turn down a free trade agreement with the biggest consumer market in the world just because they were petty. Most Americans are pretty happy how this shaping up.

[@timkey_4542]

BRICS: Brazil and South Africa both have massive Problems in terms of economy, corruption and security Russia is more and more looking like it's being reduced to China's Gas station India and China have active territorial disputes which sometimes get bloody

[@xman1533]

Long live Brics suid Arabia is joining and Venezuela we will control the minerals and oil😊

[@dennisestradda9746]

@@xman1533 suid Arabia 😅, you sre credible

[@xman1533]

@@dennisestradda9746 you heard me

[@xman1533]

@@dennisestradda9746 you can laugh now but there is a progress and we will see who will have the last laugh

[@jeckjeck3119]

@@xman1533 How will that help?

[@jacksteven781]

To anyone wondering why running a trading deficit can hamper a common currency: it's because of a never-ending cycle of import more, lose currency value, import more. I hope TLDR makes a more in-depth video on the topics they discussed. I think I would enjoy that. In summary, running a trade deficit can lead to an increased demand for foreign currency, depreciation of the domestic currency, higher import prices, potential job losses, and reduced investor confidence. These factors can collectively put downward pressure on the value of common currencies.

[@shades25x]

Finally some people with some sense.I can’t believe how many people believe that this could happen in real life

[@CountScarlioni]

Exactly this. It's ridiculous. It even manages to make the CANZUK proposal look almost sane and that was a bloody stupid idea.

[@jeckjeck3119]

So many right wing idiots in the west are promoting it as a threat that SHOULD happen... They literally tried to do the same with debt just now. We have some psychos in our midst.

[@cookiecola5852]

Wishful thinking is reality for some, til its not.

[@Laerei]

You had a title card "Dollar hate". There's no dollar hate. In fact, Russia loves dollar. Dollar can buy anything in Russia far better than equal value in rubles. It's actually "dollar jealousy".

[@markfischer3626]

As a single American male I can buy any woman of legal age in Russia single or married for very little money. 😂

[@Spacemongerr]

​@@markfischer3626 Gross comment. Also untrue, but mainly gross. Haha, humans as property, wow how funny..

[@markfischer3626]

@Spacemongerr You know nothing about women. They always go instinctively to the highest bidder. It doesn't take many drinks to persuade them once you flash a US passport and a wad of US dollars. Most Russian men are useless smoking like chimneys and drinking like fish. Might as well mobilize them and send them off as Canon fodder. They're going to die young anyway.

[@OJ1992]

​@@Spacemongerrthis is how most westerners think probably why 70% of the globe hates us all other women as seen as prostitutes whilst our women actually act like them

[@ChandanMishra-ql1bi]

Take it however as you like😂

[@ethereal2620]

I think the media in general in strawman-ing the idea. Its indeed unfeasible to replace the local currencies like the € did. But its not only possible but makes a lot of sense to create a new pegged currency for contracts and store of value. The only unsolved problem is what the peg will be… the easiest would be the dolar… ironic i know… there are other options but they come with worse downsides. And even if inittialy peg your currency at something, you can change it later, like the USD did when it dropped the gold standard.

[@Frzned9x]

Thats not the only unsolved problem The unsolved problem is china giving up its control over the currency. RIGHT NOW china is strictly banning moving money out of the country. A new international currency would not survive if china just say "no you can't use it outside of china"

[@theconqueringram5295]

Hint: The answer is no. Of course not. To create a new currency would mean they would have to overcome some logistical issues. The EU has a common currency, but they're all mashed together in one convenient region of the world. The BRICS countries are more spread out. Not to mention, most of the EU's member countries have developed economies, the BRICS are still developing.

[@michaelotieno6524]

It will not be a common currency

[@Scar626]

6:26 - I mean earlier you mentioned the SDR (5:06). Well, the SDR is not a currency. It is a reserve asset, that when traded reflects that country's relative economic standing in the world economy. So probably a stable fixed amount, that wouldn't be subject to US sanctions (I mean only BRICS nations will use it). In other words, if it wouldn't be a "common currency", probably a fixed asset used to trade between BRICS nations.

[@jeckjeck3119]

At best, maybe. But it is highly unlikely.

[@TimwiTerby]

Might be worth explaining what's going on with the “so-called deficit countries in the Eurozone” instead of telling us to “just look at it”

[@feihceht656]

That'd be a topic for another video. Plus I think they've gone over it before

[@butterflysrage]

a BRICS buck is hilarious. China is in the middle of a property crisis, Brazil is still recovering from getting wrecked by covid, South Africa's economy is tiny, russia's economy was smaller than Florida BEFORE the war, and India (the only one with a strong economy) is in a boarder dispute with China.

[@sanzreub]

Oh man! I almost spit my coffee out of my mouth when I heard the hint! 🤣🤣🤣🤣🤣🤣🤣

[@useodyseeorbitchute9450]

The new BRICS currency should be pegged to Argentine peso. It would make the whole project even more daring.

[@greyfells2829]

Yea I'm sure India and China would love to deal with each other's economic shifts

[@kth6736]

Ofcourse. Their trade is increasing 20% each year and they both agree on ending dollar dominance. Especially on oil markets.

[@jeckjeck3119]

00:54 Finally, someone sees the BRICS silly ideas as what they are.

[@allanabela2248]

0:51 Personal Advice: Put your hot coffee down for just a moment☕🤣🤧 or enjoy cleaning it.

[@ulfosterberg9116]

Remind me. Which BRICS country is NOT near bancrupcy?

[@avuazahc1966]

Shit........u got it right

[@jacksonspencer9608]

Isn't America 31 trillion in debt?

[@bigmekboy175]

​@jacksonspencer9608 true but our debt to GDP ratio is still far better than a lot of other countries including all the Brics and if things get too bad we could still pay our debts by turning on the money printers. It would ruin our economy with even more inflation but the option is there.

[@fij715]

@@bigmekboy175 The USA has more debt than the GDP of their economy.

[@bigmekboy175]

@@fij715 I stand corrected, I checked the numbers and the US has the 12th worst debt to GDP ratio in the world. We really do need to stop spending so much but thanks to the trust in the dollar we're safe from a collapse... for now. The Brics do not have that trust, look at how recently some of them have collapsed or how close they are to collapsing now. Brazil and Indias debt to GDP ratios are close to the US, Russia collapsed and defaulted twice since the fall of the soviet union, and China and South Africa are in the middle of a collapse as we speak.

[@urban_legend.]

Its not about Russia, its about America... Go BRICS ✊

[@MalenkyGoblin]

This reminds me of a story I read about Russia's economic situation in the 90s when hyperinflation made the Ruble such an unstable currency that people had to use US dollars, but they couldn't call them dollars because it was illegal to use foreign currency, so they call it "Uslovnyu Yedinitsu" or "Conventional Unit" C.U. for short. This acronym can also spell in Russian "Ubitiy Yenot" or "Dead Raccoon" so people jokingly started calling their money that.

[@IndianLondoner]

Fantastic reporting. Well done team ❤ Namaste

[@valevisa8429]

Dollar and Euro have behind them the most successful countries in the world.People trust their currency,and not those of Russia or South Africa.

[@dendradwar9464]

And that's where you are wrong .. large parts of the world do not trust the West .. all the stupid wars .. all the continuing economic exploitation .. the never ending lectures been handed out by the West on liberal democratic ideas .. The rest of world has lost a large degree of trust in the West .. that's what really driving De-dollarisation .. they look at the London high court seizing Venezulea's gold reserves and over ruling the Venez. Supreme Court .. they look at the complete lack of accountability re Weapons of Mass Destruction and 1m+ dead Iraqi civilians .. etc etc .. this has very little to do with been pro Putin (Putin is of course exploiting it) but far more to do with "We do not trust you, the West" ..

[@boarfaceswinejaw4516]

@@dendradwar9464 lets not play stupid here. its not the populations of the countries that "dont trust the west", its the autocrats whos powers are challenged by the west who "dont trust the west". and to further this point, none of these countries trust their own populations or their neighbours either. China has no friends in asia except for its immediate puppet, North Korea. India has no friends in Asia Russia has no friends in europe. Venezuela has no friends in south america. Iraq, Iran, Afghanistan, Syria, Libya, none of these countries have ever had any allies or friends to rely on. Pakistan has no friends. Angola has no friends.

[@CountScarlioni]

@@dendradwar9464 It's not about politics, it's about business. politicians and diplomats are the ones who concern themselves with reliable foreign policies. Businesses concern themselves only with reliable foreign capital. And why are you talking about de-dollarisation when talking about London - which is the home of the GBP currency (which is the world's 4th most traded currency after the Euro and the Yen)? That's....kind of stupid.

[@stephenjenkins7971]

@@dendradwar9464 They don't distrust the West, they hate the West and want to be the ones to genocide and ethnically cleanse as they wish. But the second someone else replaces the West, they will agitate against them too. People want anarchy only until they reach the top -there is no moral component here. Which is why I have zero sympathy for some of you guys; you want to be worse than the West with less consequences.

[@valevisa8429]

@@dendradwar9464 No dear,people never lost the trust of the West,it's their dictatorial and corrupt leaders who don't like successful democracies..US,Europe,Canada,Australia are flooded with migrants from all over the world,is that a sign of mistrust in your delusional mind ?

[@kg9799]

The problem is that no one trusts russian businesses. There is a reason why they only trade oil with rest of the world and sell wheat to africa. Sending goods to Russia will almost certainly disappear and you will not receive payments - common practice since 90s. New currency wont solve their way of doing business, even chinese only trade as min as they can with 100% pre-payments from rus

[@fij715]

They only sell lil because they have been under sanctions and can’t do anything else.

[@arnohofman1232]

Can you please start using mercator maps in presentations like this? It would give people a better picture of how vast these countries are, and in many cases the size of a country is way more important than the size and scale of the sea. Or probably use a mixed form, if people think the maps look ‚wrong‘, but I think it would really help. Thanks for your work guys, I really appreciate it :)

[@skp8748]

Yes. Exactly.

[@kth6736]

Yup. To fly from east tip of India to west tip of India take 5+ hours. Its longer than London to Istanbul.

[@palpatinewasright]

😂 love the tldr tldr ten seconds in!

[@lythd]

i think a lot of people are missing the fact that its a common currency, its not something to replace domestic currency, but used to replace to the USD in trade between them, from what I can see the BRICS countries seem to endorse this idea, and its not necessarily a "putin idea" like a lot of people seem to think, that sort of idea has been thrown around countless times.

[@kth6736]

Yep. All western numpties busy smoking copium. They dont seek to replace the dollar system. Rhey just seek to destroy the system and let everyone puck the pieces.

[@hamlet557]

@@kth6736 I think you inhaled too much etherium and talk as if you are in your neighbourhood gang. Have you finished highschool?

[@XR8LTDN0RTHK0R34]

Gaddafi tried to do the same shit but failed; hopefully if there is a global de-dollarisation, it happens smoothly and everything goes well

[@TugaThings]

Too bad he shot down a civilian plane killing 200 civs and sponsored terrorists in Africa. Classic blunder. Better luck in the next life I guess

[@XR8LTDN0RTHK0R34]

@@TugaThings So you really believe all that American/Western propaganda?

[@valenrn8657]

@@TugaThings Gaddafi Libya also invaded Chad, hence the infamous Chad's Toyota war against the Soviet military hardware backed Libya with Soviet-made main battle tanks and supersonic fighter jets.

[@kth6736]

​@@TugaThings usn did the same to flight 655. america is no better than Gaddafi and the world is fed ip of this nonsense.

[@TugaThings]

@@kth6736 First I am talking about a dude not a country. It was Gaddafi who claimed responsibility and in the US case it was the captain of the ship, you can't blame an entire country for the mistakes of one guy. Second I'm pretty sure the flight 655 was shot down by mistake due to being close to fighting while the Pam Am Flight 103 was blown up on purpose by terrorists inside. Huge context difference

[@jlma4457]

Nothing unites more than a common enemy.

[@williamhenry8914]

Replace the dollar? That's NEVER been tried before. Lol.

[@yulia2473]

Laowhy86's video about BRICS is enough to convinced me not to believe in BRICS but to laugh at them 😂

[@clementng7718]

Comic currency 😂🎉

[@marilenaganea6578]

My Monopoly money will worth a lot more than that

[@blafonovision4342]

I sincerely hope they would do it. I would love to cut off trade with the PRC. It would be painful, but manufacturing would relocate.

[@nullx7]

Great!

[@rathersane]

It would be interesting to see what it would take to get China and India to agree with one another enough to share a common currency.

[@nomobobby]

Idk, a joint bailout plan for Pakistan with Indian Rupees sent to Pakistan for their Forex reserves? If they could stabilize the economies near them, it would show some real soft power in the Brics pact. Instead of just the next group of Uncle Sam's h8rs who bicker too much with each other to do anything about American influence.

[@kth6736]

Both china and India agree very strongly on ending american hegemony.

[@ChandanMishra-ql1bi]

There will be no brics if India and China don't move along

[@uplink-on-yt]

Interesting proposal here: "Let's BRIC our economies"

[@marioformosa4259]

Pretty Teen reminds me of American dismissal of Toyota cars " scratch the side and you'll find Campbell Soups" and British dismissal of Japanese motor-bikes (now not only the British motor-bike is gone but the whole of the Midlands including Birmingham is gone

[@wayausofbounds9255]

BRICS is a joke. You can't form a union of countries that not only have no common interest but has members actively opposed to each other. On top of that "Economic basket case" is a polite way of saying failed state. Each of these countries has in the past proved that their own self interest is of primary concern. This means each will be manipulating the currency in ways detrimental to the other members so they can come out on top.

[@randomtaiwan5085]

Fr idk why it exists im suprised india and china are even in brics together

[@badluck5647]

The G7 are united by common values, while BRICS are united by a lack of values.

[@badluck5647]

​@@randomtaiwan5085 India joins every organization they can. Most of these organizations tend to accomplish nothing.

[@eduwino151]

@@badluck5647 having we hate America as a common value doesnt work in real world economic lol

[@CuriousGene9]

@@badluck5647 The values of exploitation and subjugation

[@nnsnumbersandnotesunlimite7368]

If Brics currency would emerge, it would be without a partner in war with its neightbor which is a much too great liability. But the Yuan becoming to the next whole Manchuria currency (or even whole Russia currency) is clearly a likely event.

[@KanLuxiang]

What is a Manchuria currency? China controls most of Manchuria, so the yuan is already the standard currency there. A tiny portion of Manchuria is controlled by Russia, so the yuan would only replace the ruble there if Russia completely collapses.

[@nnsnumbersandnotesunlimite7368]

@@KanLuxiang Not really a tiny portion :The Chinese part is 1 550 000 km2 and the Russian part is 1 000 000 km2 which is almost twice the size of Ukraine.

[@KanLuxiang]

@@nnsnumbersandnotesunlimite7368 Russian Manchuria is tiny in terms of population. And also not that economically important, which is why I wondered the relevance of what currency is used there.

[@nathanpiazza9644]

His pronunciation of yuan is so chaotic and unhinged I love it

[@GustavSvard]

Oh wait, Pooty-poot is serious? Let me laugh even harder! LOLOLOLOLOLOLOLOL

[@vedranb87]

They should call it "BrickCoin". Awkward to pronounce, worthless on its own, but with intimidation it might just work.

[@CountScarlioni]

Although, pegging its value to that of precisely one housebrick would be kind of hilarious!

[@vedranb87]

@@CountScarlioni There was a tactic back in the day that ruffians would go around a block carrying a brick, asking people if they'd like to buy a brick. If they say no, they'd get attacked with the said brick and robbed. So the better option is to buy the brick at an outrageous price, but at least you don't get your head smashed.

[@CountScarlioni]

@@vedranb87 It does sound like the kind of fiscal policy Russia might actually try!

[@fanniemoseamedi1884]

USA is nothing without Africa and Asia. The time change is here.

[@waltershearls]

Yup the USA didn't exist before Asian markets open up right? What's hilarious is you're likely typing on USA technology on USA companies website using a VPN. 😅

[@joestraw8870]

This is basically the plot of Lionel Shriver‘s book, the Mandibles.

[@BosonCollider]

A new BICS currency may have some advantages, though I don't see China and India wanting a common currency. Also, including Brazil in a currency union _now_ means you have to include Argentina as well

[@tannerwilson4843]

Aren’t the all of the South America nations looking to create a common currency right now? Especially for trade within the continent?

[@BosonCollider]

@@tannerwilson4843 Yeah, that is more or less what is happening. And imo, a currency union based on geographic/cultural ties is an approach that makes way more sense than tying together wildly different countries across several continents.

[@kth6736]

Actually China, India and Russia can have a currency easily. Problem is with weak economies like brazil and south africa.

[@badluck5647]

China and Russia would have to give up capital controls to have a real reserve currency. However, once capital controls are gone, their citizens will just buy more dollars.

[@bikeandsee1647]

Currency is representative of goods, brics countries are rich in commodities and natural resourses. Besides the political use of the dollar, an impending urge to create an international currency is the impending default of US debt.

[@Red-32]

Feel the force

[@joebidenisyourpresidentget2481]

Option 1 : Join the rest of the civilized world. Option 2 : Create your own Monopoly money. Option 3 : Blame America for all your problems.

[@badluck5647]

Putin: 2 and 3

[@CuriousGene9]

The 'civilized' world have been slaughtering the 3rd world since it's inception. America does cause problems for others wherever it goes. Let's not pretend their war criminals are better than Russia's

[@croatianwarmaster7872]

@@CuriousGene9 American war criminals are better than Russian ones.

[@fij715]

Sex with children isn’t civilised.

[@ThatOneGuy7550]

Because slavery, murder and police brutality is civilised? Try the lethal injection

[@jarnMod]

For BRICS currency to happen, they need a strategic collaboration that is unlikely but still is pretty lucrative if the other party to join. That is they make it an OPEC barrel. Russia joins the maker of the OPEC. China, Brazil, India joins the taker. Instead of trading OPEC oil to only USD, these BRIC boys peg oil to OPEC barrel. Exchange rate of this currency will be whatever the oil price is but it has to be back by oil. OPEC will love this because that's what they're formed for, to manipulate oil price. Saudi doesn't lose anything because they can still sell oil to the west in USD, and if they want more USD, trade that OPEC BRIC whatever it is to USD. If you want cheap stuff from India and China, trade USD for that currency. OPEC will also secure the demand for the foreseeable future as Europe ditch oil and go with other form of energy. BRIC alone cannot make that currency. They don't have what the world needs. USD was special because it came at an opportune time. A truely political currency back by US guns and warships. Unless there is something as solid to back it, doesn't matter how big the economy of the BRIC is, they cannot overthrow the USD.

[@jeckjeck3119]

@Анти Наука 1: Most resources doesn't mean wealth, if it did, Sudan would be filthy rich right now. 2: That's just a potential you lot can't exploit to its fullest, and also a burden. More people = More resources needed on people. And if you are a dictatorship, more resources needed on controlling the people with a police state. 3: And?

[@kkpenney444]

Guns and ships and so the balance shifts 🎶 Hamilton h/t

[@stevesparta4995]

Putin: I have a plan, Arthur

[@keesko5740]

Brics currency with Venezuela,Brasil and South Africa is a good idea.The coin will devaluate immedatly and plunge into a record low

[@generalbenjaminarrola340]

Achismo

[@Schaelpy]

Russia is a state waiting to fail

[@gavasiarobinssson5108]

sanctions dont work

[@dfwherbie8814]

Liberalizing capital flows and the tensions between India and China are the biggest obstacles. India has expressed interest in doing so, just not in RMB. South Africa’s terrible economy can be dealt with too. If the BRICS peg their currency against their natural resources and center it around the yuan, like how the EU did with the Deutschmark, then it could work. Not all EU member-states are economically well off. Look at the mediterranean countries. This is happening, whether we like it or not. I also don’t think they want to replace the dollar. They just want a viable alternative. America has been abusing its USD hegemony.

[@themyth3686]

Rappers saying "stacking up BRICS" will have a whole new meaning

[@clivematthews95]

😂😂💀💀

[@Alitacyan]

BRICS currency? They may as well use monopoly money at that point 😏

[@mersifullwolf4054]

Brics is a joke 🤣😂😂🤣

[@la7dfa]

Putler is WEAK and desperate. He will be gone in a year.

[@vivekmehla9879]

Keep watching BBC and CNN😂😂😂😂😂

[@davisdupreez5397]

Putin calling for a common BRICS currency reminds me of Mr. Burns summoning the League of Evil. Dead on arrival lol.

[@pkbhattacharjee6318]

They said the same thing about the Dollar too.. lets wait and watch

[@eldrago19]

This might not happen but as the developing world gets richer there will be an increasing tendency to look at the US and go 'who put you in charge'?

[@CountScarlioni]

Everybody else put the US in charge. This is how reserve currencies work. In the 19th and early 20th century everyone's reserve currency of choice was the GBP. After WWII and Britain's steep economic decline, nations en-masse pegged their economies to the USD. Not because they loved the USA or because the Americans told them to, but because like with the £ before it, it's just common sense to conduct world trade in the currency of the nation doing the most buying and selling, and the nation least likely to default. It's an easy way to make trades safe, convenient and pragmatic. Creating a artificial rival reserve based on the principle of "We don't like those Yankees!" will go down like a lead balloon in any sane business community. Even Eurozone nations, who are host to the only realistic rival currency still do most of their trading in dollars. IF the dollar does decline as a reserve, it'll be in favour of an already established and trusted working currency, not a hashed together construct.

[@paulluka2029]

@@CountScarlioni you forgot to mention what will happen once Putin is out picture, how long will the Chinese put up with communism (it may have been a good ideology in china from the 60s up to early 2000s but today Chinese are more like European socialists communism is only left to politics). What it will happen once South Africa only ruling party since the end of apartheid loses elections which is very likely in the near future. The only two brics Nations that seems to be stable politically are Brazil and India but India like China trades very heavily with US am not sure the US can tolerate trade in currency sponsored by Putin.

[@CountScarlioni]

@@paulluka2029 Like all communist states, China are communist in name only. However their brand of hybridism is very different to the hybridism practised by Europe. They're both mixed economies sure, but coming at it from opposite directions. Europe is made up of free-market capitalists who have spliced some social democratic mechanisms into their state infrastructure. China on the other hand is a centralised communist economy that has spliced some free-market capitalism into their state infrastructure. Also, idealistically speaking Europe hybridise to further their national wellbeing. China hybridise to further their national wealth. Yes, South Africa is going to have to solve its ANC headache if it ever wants to be taken seriously again. After the debacle with Bolsonaro I'm not convinced Brazil is all that stable. That leaves India, whom I'd regard as stable, but run by nutters and suffering from badly underdeveloped infrastructure. That will need to be tackled before they can become a credible economic anchor in the world. So really when talking about the BRICS we're talking about China as the only credible counterweight to the G7. A counterweight that would be all the more credible with India by their side, but given the pair can barely tolerate one another, that's not happening any time soon!

[@jeckjeck3119]

@@CountScarlioni The most sensible assessment I have read so far.

[@CountScarlioni]

@Perre Inn The only truly useful alternative reserve to the dollar is the euro. Together they make up something like 80% of all anchor currencies. After that its the Yen and the Pound. The Remnimbi is by far the largest of the BRICS currencies in reserve and I think it makes up something like 2%. I expect its position to improve, but it has a LONG way to go. I think had Trump won a second term, there would probably be some significant investor panic by now, but he didn't, so the US has gone back to a fairly business as usual footing financially speaking. Could Trump return? Hopefully not but the Yanks can be highly unpredictable on these things so who knows. I'm still shocked Biden was the best alternative they could get.

[@badluck5647]

Why would India and China link their monetary well-being to economic basket cases like South Africa, Russia, and Brazil? It would be like the Euro, but everyone is 2008 Greece.

[@nammadesign7478]

Actually BRICS countries having a common currency is for trade and trade settlement between countries. I see a lot of people in the comments comparing this with Greece and eurozone Europe. People in BRICS will still be using their own currency for day to day stuff which is entirely different from what happened in Greece. And for the point of deficits between countries, it is anyway backed by a commodity and not just a Govt printed banknote.

[@TryRickPayton]

They probably gong to use it like a cc for buying oil and raw materials

[@phdang77]

The name of new common currency is PRICKS

[@thebienderman4848]

The South African people have nothing to do with what our corrupt government does

[@la7dfa]

Yes we take notice who does business with despots. If you want RuZZian tech and oil, then do not expect to get the best from the West in the future. Remember Russia and China are just copycats. They steal and counterfeit what the innovators in the West make. Choose your side.

[@TheNotSoFakeNews]

So is brazil going to use this currency or their own currency or the currency that they agreed that they would use with Argentina a few months ago?

[@robert6007]

Gaddafi tried to do something like that. I wonder how that turned out?

[@wothin]

It's always so cute how this channel tries to portray itself as neutral 😂😂😂

[@BenjaminKeller]

Well if one side is clearly in the wrong it wouldn't be "neutral" to "both sides" it.

[@dendradwar9464]

That really hit me to .. when it is very clear it is not .. that said there is some element of balance in it i.e. not rabid bias ..

[@wothin]

@Benjamin Keller this channel has almost always generic western view points on almost anything. I actually watch this channel to see whether I can predict their views. Works 90% of the time If I wanted something neutral, I'd watch indian channels, except if it is news about China or Pakistan

[@wothin]

@@dendradwar9464 yes its just genuinely funny how they say they are neutral while being anything but neutral. But I guess if you compare it to something like fox News sure. But that is a very low bar

[@jeckjeck3119]

@@wothin ''They said that the Earth is not flat, they are being unfair and not neutral.''

[@LucasMartins-dz6jx]

Because the world is tired of the decadent empire (USA), tired of them thinking they own the world and tired of the threats of economic sanctions if any country doesn't do what they want.

[@pabloagusti5104]

The USA: I order you NOT to jump from the window of an 11th floor without a parachute. Some people: You can't stop me, imperialists!

[@marilenaganea6578]

Cupcake your economic suicide will not make us cry.

[@dendradwar9464]

Well said!

[@jidec3165]

@@pabloagusti5104 huh?

[@ThugLife-tb4fu]

​@@pabloagusti5104 they want to put sanction on uganda because they introduced the same law what exist in saudia arabia and UAE but they did not put sanction on that 2 countries. That is problem and because we need multipolar world

[@angrynoodletwentyfive6463]

The issue with any of these countires trying to create their own currency even together is the old adage "there is no honor among thieves" all of these countries governments have proven themselves to be untrustworthy and/or disorganized in the past... Why would anyone trust a currency that was fronted by a pariah state and run by 5 countries 4 of which can barely control their own economies and all of which are willing to backstab each other and manipulate things the second it is to their advantage?

[@kth6736]

Each of these countries has more credibility than the usa. They inly lacked the guns to intimidate other countries. Now they do. Copium wont help.

[@corey2232]

This has been a thing people have talked about for ages, and it never changes. There's also no requirement for any country to use the dollar, it's just a choice countries make due to its ease of use internationally. Nothing is stopping anyone from just using whatever currency they deem most useful at any point.

[@SeeLasSee]

They might consider booting South Africa before it just embarrasses them.

[@GGNH1234]

Sometimes, only agreeing that 'MeRiCa bAd isn't enough.

[@TheAmericanAmerican]

TLDR News' most recent video: How to troll the Tankies Nice.

[@blackmanking3447]

Any gold currency can easily replace any existing currency....

[@djmars1983]

0:52 it sounds like tdlr news is getting scared.

[@calebhopkins7382]

It would have to at least as strong of a bond as the dollar. Which just can't be done overnight.