25 sats \ 4 replies \ @Undisciplined 10 Dec 2023 \ on: Petrodollar: The Playbook Reveals Itself econ
I don't expect the BRICS nations to be able to comanage a currency any better than the Europeans have, but I do expect it to be a major (perhaps existential) blow to the dollar in the near term.
Is that similar to how you see it or do you think I'm misjudging it?
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705 sats \ 3 replies \ @TomK OP 10 Dec 2023
I see the USD as no.1 currency in the long and a lot of Fiat currencies collapsing in it before the USD comes into trouble. But do not forget: whatever these BRICS are brewing: it will be the most powerful energy bloc and so their trading vehicle will be backed by energy. The Eurozone literally has nothing except their pseudo morals. They use the climate apocalypse to force others to shut down their energy like coal or gas to stay at the geopolitical table of power.
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278 sats \ 0 replies \ @elvismercury 10 Dec 2023
I'm a dollar milkshake guy, too.
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0 sats \ 1 reply \ @Undisciplined 10 Dec 2023
So. ultimately, you see the dollar coming out the other side of the BRICS challenge more or less unscathed?
What do you expect to be the biggest long term impact of the BRICS?
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257 sats \ 0 replies \ @TomK OP 10 Dec 2023
The USD will be fine for many years to come if You get rid of the Obiden-clans.... with SOFR there is the next step made to independency from failing European institutions.
Long term impact to the BRICS:
  1. capital movements to a strong USA and attractive conditions for partnering with this reborn hub of liberty.
  2. India as the typical ''swing state'' of the region could partner with the US to oppose China one day.
  3. Currency units are instable and always fail
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